Hey fellow traders! 🚀

I've been keeping a close eye on the SPY, and it's been on a rocket ride to new heights lately. Here's my take on why it still looks bullish, backed by some historical data:

Current SPX Action: 📈

So, the SPX recently closed at a mind-blowing 4929, and guess what? It's not done yet! The treasury dropped a bombshell by unexpectedly cutting borrowing, sending those pesky yields down. In premarket, SPX has been holding pretty steady, bouncing between 4920 and 4930. This could be the setup we've been waiting for!

Historical Comparison based on 1 day candle: 📊

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Here is the current SPY chart without overlay:

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Now, let's dive into the past because history often rhymes in the stock market. Check out these historical periods and their returns:

  1. 08/09/'98 - 01/06/'99: +0.32% after 2 month of the event happened
  2. 10/18/'11 - 03/19/'12: -8.79%, after 2 month of the event happened
  3. 11/18/'97 - 04/21/'98: +2.70% after 2 month of the event happened
  4. 02/23/'97 - 07/22/'97: +4.25% after 2 month of the event happened
  5. 06/27/'17 - 11/23/'17: +0.95% after 2 month of the event happened
  6. 09/06/'16 - 02/05/'17: +2.92% after 2 month of the event happened
  7. 01/09/'03 - 06/10/'03: -0.01% after 2 month of the event happened
  8. **10/31/'94 - 03/30/'95: +**8.01% after 2 month of the event happened