• 764 days Will The ECB Continue To Hike Rates?
  • 765 days Forbes: Aramco Remains Largest Company In The Middle East
  • 766 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,166 days Could Crypto Overtake Traditional Investment?
  • 1,171 days Americans Still Quitting Jobs At Record Pace
  • 1,173 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,176 days Is The Dollar Too Strong?
  • 1,176 days Big Tech Disappoints Investors on Earnings Calls
  • 1,177 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,179 days China Is Quietly Trying To Distance Itself From Russia
  • 1,179 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,183 days Crypto Investors Won Big In 2021
  • 1,183 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,184 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,186 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,187 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,190 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,191 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,191 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,193 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

The State of the Trend

In case you were wondering what tune Ben is singing in the shower, here's a hint:

Oh, I get by with a little help from my friends,
Mmm I get high with a little help from my friends,
Oh, I'm gonna try with a little help from my friends.

It's nice to know that his little CB friends around the world went all in and pushed the talk about the end of QE to the back burner. This helped save the day, and the major indices are firmly above their 2007 highs, and the SPX is above our bullish pivot level:

SPX Chart

There's a minor speed bump ahead, best seen on the intraday SPY chart, which coincides with the gap zone created on May 20th, but once that level is overcome, the race to the old highs is on:

SPY Chart

In summary, the SPX continues to closely follow the seasonal pattern, and the risk of a deeper correction at this point in time is subsiding.

 

Back to homepage

Leave a comment

Leave a comment