To The Moon

$SPDR S&P 500 ETF Trust(SPY)$ is setting up for a massive 10% reversal for 2024. This is everything you need to know about this set-up. Image Key fundamental reasons for SPY being bullish: $6.2trillion waiting to get into the stock market. New bull market cycle starting at Phase 1 and can last 5-10 years. AI revolution + Producitivity increase FEDS cutting rates starting in September Image The $SPDR S&P 500 ETF Trust(SPY)$ 50SMA is at $540. - This is maximum the market will go to before bouncing hard and fast upwards again. - This is also big demand zone for buyers as you can see from the chart. - Market held here then went up towards all time highs. Image This is the trendline which defines the current structrue of the market. - It falls perfectly into $540 which is a big CONFLUENCE area of buyers - The market doesn't like to stay below the 20SMA (red line) for too long. - You have to pay attention everyday for the move. Image If you catch this reversal, it will be easy to grow a small account quickly. But, you will have to be able to hold through the volatility. Government will cut interest rates in Sept for the 1st time since March 2020. Most people will have more cash to spend becuase they will have less interest to pay on their debt. Most small businesses in IWM will pay less interest and this will improve their cash flow! PCE for June 2024 on Friday expected to follow the downtrend trend of inflation. This is extremely bullish and next week July 31st is FOMC. Image