Stock Market Action: Bullish
Wednesday’s stock market had all the elegance of a bullfight—first, the bears seemed to be running the show, pulling the SPY from $548.70 down to $540.22. It looked like they were in control, dragging it down like a prize catch on the line. But just when everyone thought the bulls were out of gas, they came charging back, closing the SPY above $552 with a vengeance. That blast upward was a clear power move.
The bulls keep their upper hand as long as the SPY is above $556.75. If the bulls manage to hold that level, we could see some more upside momentum.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.