Breakout or Bull Trap? $SPY Reclaims 200DMA but Faces 20W MA

Market_Chart
04-09

$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$

S&P 500 may have closed above its 200-day MA, but one hurdle remains: The 20-week moving average with the $SPY currently on track for a 6th consecutive close below it 🚨📉

S&P 500 $SPY posts first close above the 200-day moving average in 14 trading days 📈🥳🫂

More than 82% of S&P 500 stocks are now trading above their 5-day moving average, the strongest short-term market breadth since November 📈🥳🫂

Investors have been rotating to cash at one of the fastest paces in history 🚨🚨

Stock Market says goodbye to Extreme Fear for the first time in over a month 🥳📈🫂

S&P 500 Concludes Best Month! Shall We Sell In May?
April's final session: $S&P 500(.SPX)$ closed at all-time highs (+1%), $NASDAQ(.IXIC)$ +0.89%. Full month: S&P 500 +10.4%, Nasdaq +14.8% — the strongest single-month return since the post-COVID rebound in 2020. Based on historical data, if multiple new highs are reached in April, the subsequent market performance is usually relatively strong. Will the bull run continue into may? Do you chase the new high or wait for a pullback? Which sector do you think catches up?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment
22