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SPDR S&P 500 ETF Trust
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SPY
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$609.70
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+0.03%
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$609.94
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$610.99
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$609.07

Mark L. Newton, CMT AC
Head of Technical Strategy
Fri, February 14, 2025 | 12:01PM ET
My technical thoughts are that this breakout should be led by Big-Cap Technology and QQQ0.55% looks to the leader over SPY0.03% as well as RSP-0.26% . Furthermore, SPY0.03% looks to lead RSP-0.26% in relative strength until potentially mid-year, based on my interpretation of possible exhaustion counts setting up on these ratios. Thus, while many fret about valuation, or the degree of consecutive days of rally in stocks like META1.31% , it should be right to favor the leaders, and expect that QQQ can continue to lead the US stock market, with Technology which powers QQQ showing better relative strength than many of the other sectors or indices

Mark L. Newton, CMT AC
Head of Technical Strategy
Wed, January 22, 2025 | 9:46AM ET
DeMark hourly SPY0.03% chart shows that within 3-4 hours this morning, SPY could likely face exhaustion on this rally which would gel with the current TD Sell Setup shown on 240-minute timeframe on the same SPY chart. Overall, this sets up for short-term peaking by Friday in both SPY and also Treasuries, and a possible low in the Dollar while the broader trend in Equities has begun to broaden out.

Mark L. Newton, CMT AC
Head of Technical Strategy
Fri, November 22, 2024 | 2:36PM ET

Thomas Lee, CFA AC
Head of Research
Tue, November 19, 2024 | 10:13AM ET

Mark L. Newton, CMT AC
Head of Technical Strategy
Fri, September 13, 2024 | 3:25PM ET
Today's follow-through has brought SPY0.03% up to near July and Aug highs (JULY representing All-time Highs) while QQQ is a bit shy of Aug peaks and well off July highs which lie near 503.52 (currently 474.80) SPY is going to have initial resistance near 565 which could happen into early next week- I suspect the rally from early Sept is carving out 5 waves higher, which will require some backing and filling.. a push up to 565, then likely a 38-50% retracement (which might happen POST FOMC) before the start of a larger rally. Much of this will depend on the trajectory of the next few trading days, but trends are UP and the ability to get above 565 would cause a much larger rally at a time when many don't expect it. For now, SPY at 561.6 should have a bit more upside before some stalling out

Thomas Lee, CFA AC
Head of Research
Wed, September 4, 2024 | 1:29PM ET
While the next 8 weeks will be challenging, the highest probability is the August lows hold
- S&P 500 5,100 was 8/5 low
- Since 1928, during election years, August is most common low (44%)
- The October lows (election years) happen during recessions 2000, 2008 and 1992 (growth recession)

Mark L. Newton, CMT AC
Head of Technical Strategy
Tue, August 20, 2024 | 9:46AM ET
8 Straight days of gains and SPX is now within 1% of new all-time highs. Last week's relative strength in Technology, Discretionary, Financials proved to be strong outperformers. I am expecting a continued rally into Friday's Jackson hole FOMC meeting, and i DO expect both SPY and QQQ0.55% to reach all-time highs. At that point, i'll address my thoughts on Sept-Nov and what kind of pullback can happen. For now, trends and momentum remain strong near-term and it's been a very constructive bounce back for Equities along with Treasuries and Gold- 240 min Chart of SPY below. Further gains to SPY0.03% 565-8 look likely, then a stalling out.

Thomas Lee, CFA AC
Head of Research
Wed, July 31, 2024 | 11:29AM ET
At 2pm ET the FOMC will announce its interest rate decision and at 2:30p ET today, the press conference starts.
- the key is the Fed decision itself is clarity (no surprises expected, no cut today)
- equity markets have stalled waiting for "clarity"
- thus, we expect a substantial rally to start post-FOMC and last a week or two
- Mark Newton, Head of Technical Strategy, also sees high probability of this

Thomas Lee, CFA AC
Head of Research
Fri, June 14, 2024 | 11:01AM ET
The drop in US 10-year yields this week from 4.4% to 4.2% is a very good thing:
- this is an outright easing of financial conditions
- even if Fed make a "hawkish" pause Wednesday
- doesnβt matter if this drop in yields is due to "flight to safety" as France elections cause turmoil

Thomas Lee, CFA AC
Head of Research
Thu, June 13, 2024 | 9:05AM ET
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Last updated: 2025-02-17 16:40:02