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SPY Breaks Out, Bulls Bet on Broader Participation
Published 2 days, 5 hours ago
Description
SPDR S and P five hundred ETF, SPY, breaks above upper Bollinger Band, signaling strong buy for bulls. Historical data shows positive returns nine months and one year later. However, narrow market breadth, with fewer than sixty percent of stocks above moving averages, echoes dot-com bubble era. Semiconductor stocks also reaching dot-com bubble levels. Bulls hope for broader participation to sustain rally.
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