On Friday the popular stock market averages continued to the upside. The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 attained all-time intraday and closing highs. The yield from 10-yr treasury notes rose a bit. Next week will be heavy with second quarter corporate earnings reports.
Above is mythree-month chart for the S&P 500 ETF (SPY). The SPY soared to all-time intraday and closing highs on May 7, before a drop. Its 50-day simple moving average again provided support on May 12. Then a stall which preceded a bounce up from that SMA on May 19, leading to an all-time intraday high on June 16.
After that came a brief dip below the 50-day SMA before a rebound on June 21 and general continuation toward an all-time intraday high on July 14. After another dip, that SMA proved supportive on Monday, leading to all-time intraday and closing highs on Friday.
You appear to be blocking the helpful ads on our website. If you wish this website to continue, please allow ads for this website. That can be done for this website, while still blocking ads for other websites. Thank you for your support.