BradMatheny

Expect the US market to rotate before another leg higher begins

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
Expect the SPY and major US indexes to rotate a bit before starting another leg higher towards the end of August. The momentum is certain bullish at this point and earnings continue to drive higher expectations for the general market. My analysis suggests a bit of rotation could come over the next 5+ days as these new highs are created by the moderate push upward. After the middle of August, I expect the US markets to rocket a bit higher for about 20+ days.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.