The Long Investor

$SPY TOP 20

Added 2025-03-23 20:29:07 +0000 UTC

$SPY has come close to testing its 200 Day MA from below this week and got as high as $571, with the 200 Day MA at $573, there was small pull back to end the week but no lower low has been made so there is no rejection under the 200 Day MA either

$SPY is also showing the same indications as the $QQQ and the Mega Caps, whereby the RSI is back out of the oversold territory and moving positively, while the MACD is showing a significant reversal signal.

I would like to see a confirmed test of the 200 Day MA before we start jumping to conclusions and I think this can come this week while the bullish indications are visible.

Job Claims and PCE will be the important economic data releases this week and the FED has consistently explained that they use PCE as their preferred metric to track inflation, so this will be vital this week.

Tuesday, March 25

CB Consumer Confidence – Measures consumer optimism.
New Home Sales – A key indicator for the housing market.

Wednesday, March 26

Durable Goods Orders – Reflects new orders for long-lasting manufactured goods.
Pending Home Sales – Provides insight into future home sales.

Thursday, March 27

Initial Jobless Claims – Weekly measure of new unemployment claims.
GDP (Final) Q4 2024 – Third and final estimate of GDP growth for the last quarter.
Core PCE Prices (Q4, Final) – Inflation measure within the GDP report.