SPY's 9-Week Streak: Overbought Warning Meets AI Bull Case
- Nine straight weeks of gains mark the longest streak since 2023, with SPY closing at record highs amid AI leadership from DELL, MU and QCOM.
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S&P 500 closed at record 7,580 amid ninth straight weekly gain, but gains remain heavily concentrated.
SPY and QQQ push fresh highs after strong breakouts, yet both stretch notably from their 20-period averages.
SPY futures ticked up 0.1% amid a tentative 60-day Iran ceasefire proposal, while Dell's explosive AI server growth sent its shares surging 40% and lifted HPE, SMCI, and NOW in sympathy.
SPY HVRB clusters on 15-minute charts reveal ongoing institutional buying versus selling, leaving indexes coiled for a potential larger move.
Oil prices plunged toward 10% weekly losses on US-Iran ceasefire prospects, with Brent at $92.55 and WTI at $87.11.
Rising PCE inflation to 3.8% and record-low consumer sentiment signal stagflation risks that could force Fed rate hikes and stall SPY's 11% YTD gains.
April data delivered conflicting signals on inflation and consumer health.
SPY rose 0.56% on May 28, tracking the S&P 500's 0.58% advance and Nasdaq-100's 0.84% gain.
Strong semiconductor earnings from Nvidia, AMD, and Micron are driving the S&P 500 higher, not confirmed peace deals.
Rising 10-year Treasury yields stem primarily from real yields—up 0.37 percentage points—rather than oil-driven inflation expectations, which...
VP Vance says the US and Iran are very close to a deal but not there yet, with unresolved issues including enrichment and a potential lifting of...
US consumer confidence fell to 93.1 in May as inflation worries from the Iran war intensified, prompting two-thirds of households to cut spending....
SPY and NVDA rallies are diverging, spotlighting narrow leadership risks for broader market sustainability.
SPY traders eye $750.92 pivot high for bullish breaks and $747.76 pivot low for bearish signals. A move above the high is viewed as bullish while a drop below the low turns bearish.
SPY and the broad market ripped to fresh highs even as April PCE hit 3.8% YoY—the hottest reading since May 2023. The move rests almost entirely on Iran ceasefire headlines that promise lower oil prices and keep the Fed on hold.
Markets surged to record highs on Thursday as reports emerged of a tentative 60-day US-Iran ceasefire extension, with SPY closing up 0.58% and the S&P...