S&P500 SPY BOTTOM IN
SPY, a powerful bounce from the 415 support, this market so far looks like it wants to rally. A weak GDP but SPY rallies anyway. Yes the headline was bad largely due to the trade deficit from sanctions. But the SPY rallied. Now aapl and amzn are key to see where from here. Facebook is a releif rally not a buying opportunity. The dollar remains strong, strong currencies usually attract capital inflows which should benefit stocks. US ones that is! But with tightening credit conditions this is a time for quality, not growth stocks.
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