Still expecting an October pullback on $SPY, but now thinking it kicks off from a higher level. We're inches from new all-time highs, and historically when the index punches through ATHs, it tends to run a bit further—just look at the last two breakouts.
Maybe Tom Lee's got it right this time. Rally could stretch to 7,900, maybe even 8,000 on the S&P500, then we get the mini-drip into the next FOMC meeting.
So the setup: let it rip higher first, then watch for the fade. Don't fight the breakout, but be ready to flip when momentum shifts.
Maybe Tom Lee's got it right this time. Rally could stretch to 7,900, maybe even 8,000 on the S&P500, then we get the mini-drip into the next FOMC meeting.
So the setup: let it rip higher first, then watch for the fade. Don't fight the breakout, but be ready to flip when momentum shifts.
