SPY - SP500: Buy Signals From Good Economy Dropping Inflation (Technical Analysis Upgrade)
2024-05-17 13:51:40 ET
Summary
- The market anticipates rate drop and AI boost for bull market.
- The inverted yield curve and commercial real estate depression are concerns.
- Daily, weekly, and monthly charts show bullish signals, with price at a new high.
The S&P 500 Index ([[SP500]], [[SPY]]) rocketed through resistance to a new high triggering Buy Signals on the charts below, aiming for a soft landing on the moon. The market is anticipating that the Fed will drop rates, which will be good for the economy and earnings. Also, we have the Artificial Intelligence, AI, booster rocket for a longer-term bull market, as well as the stimulus of defense spending to support Israel and Ukraine in their wars. That makes a moon shot plausible short term. It only takes one mistake by North Korea, Iran, Russia or China to start a bigger war. The market does not see that happening. Wartime spending could bring back inflation....
SP500: Buy Signals From Good Economy, Dropping Inflation (Technical Analysis Upgrade)