Been a long week for the longs, but dip buyers finally showing up on Friday.
Equity sentiment vs returns for the S&P 500 couldn't be further apart than it is right now.
Long-term, buying S&P 500 (SPY) at the 200-week moving average has produced incredible long-term results.
Two standard deviations of S&P 500 (SPY) 50-day moving average, has price moving back inside of it again.
Solid continuation today, but the participation and volume remains quite light for the S&P 500 (SPY).
83% of the S&P 500 have beaten their estimates...you'd think we were coming out of a recession or something.
July would have finished in the red for the S&P 500 (SPY) if it weren't for the Mag 7 stocks. In 2025, they are responsible for 48% of the market's returns!
This particular chart on the S&P 500 (SPY), expects a major sell-off starting in 2026.
Since mid-May, the decoupling of RSP vs S&P 500 continues to increase.
SPY intraday holding up very well at 619 over the last two sessions.