Hi Mike, the SPY/QQQ were up nicely today, while the percentage of companies above their 100SMA was down again. I noticed that Lori Calvasina from RBC Capital Markets upped her year-end target to 5700 on the SPY. At this pace, the SPY might exceed that before the end of July. If that happens, there will be a mad scramble towards 6100. Thanks.
Hi Mike, the SPY/QQQ were up nicely today, while the percentage of companies above their 100SMA was down again. I noticed that Lori Calvasina from RBC Capital Markets upped her year-end target to 5700 on the SPY. At this pace, the SPY might exceed that before the end of July. If that happens, there will be a mad scramble towards 6100. Thanks.
Mike Hunt