SPY: Another New Breakout
Warren Bevan | May 26, 2017 01:21AM ET
“An hour of effective, precise, hard, disciplined, and integrated thinking can be worth a month of hard work.” – Kekich Credo #44
Pretty quiet action this week until we got news that the Fed is looking to raise rates sooner than later which increases the likelihood of a raise in June before summer recess.
Stocks like this news and are breaking out now with Alphabet Inc (NASDAQ:GOOGL) and Amazon.com Inc (NASDAQ:AMZN) in a heated battle to win the race to $1,000.
Many charts are coming around nicely and we should have a lot of new buys emerge over the days and weeks to come.
SPDR S&P 500 (NYSE:SPY) is back at its old tricks and moving higher.
Amazing action to be sure.
All clear for higher prices now.
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