The Long Investor

$SPY TOP 20

Added 2024-06-09 17:44:26 +0000 UTC

$SPY finished the week making another ATH and looks set to continue this month higher and the target of $550 is a realistic target here.

Unless something obscene happens in the meantime or $NVDA aggressively pulls back after its stock split this week but I don't think it will be sudden, it appears to be a gradual process until an economic event takes places.

We are seeing some activity in relation to commercial real estate being in a stressful position right but this has been known for some time now, there is also concerns that a number of regional banks in the US have been failing stress tests, up to 60+ banks assessed, they are likely connected with the commercial estate concerns.

But for now, the market seems unfazed by this and keeps pushing higher, the election year mentally has taken over, especially as the Fed delays rate cuts, Bulls are protected until then....as the Fed effectively says the economy is healthy by leaving rates high.

My strategy of accumulating cash will continue and I will continue to increase my exposure to Silver too as a market hedge.

I have no plans to reduce any of my positions either will the market holds right now.