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SPDR-S&P-Regional-Banking  on September 27, 2023


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SPY: Possible Retracement Before Bullish Trend Resumes (Technical Analysis)

A trend signal was triggered at the end of May that aligns with the thesis of a secular bull market driven by favorable demographics. As shown on the monthly chart of the S&P 500 (SPX) below, the improvement in the stock market's longer-term trend allowed the seven-month moving average to recapture the fourteen-month moving average. The signal was nailed down on May 31, 2023, with the S&P 500 trading at 4180. Since the SPDR S&P 500 Index ETF Trust (NYSEARCA:SPY) tracks the S&P 500 Index, the signal below speaks to the long-term outlook and odds for SPY.

seekingalpha.com     Sep 27, 2023