SPY: Clean Breakout
Kay Kim | Jul 29, 2016 04:42PM ET
So many were calling the crash, so many panicked, so many acted emotionally, because they didn't understand the big picture.
Despite the many saying we were in a bear market last year and a half, that is a fallacy when you look at the chart below.
As you can clearly see, the major primary-term trend is UP and we never really got into a downtrend; if anything it was a sideways market the last year and half.
Today as the last day of July. Month-ending monthly chart tells us that the stocks are breaking out with enthusiasm.
We may see a pullback in the minor term, but I believe the stocks will continue to move higher in the long term for the next 5 years.
SPDR S&P 500 (NYSE:SPY)
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