SPY could reach all-time highs ($779.37) as early as tomorrow due to breaking above a declining trend line, though volume was not heavy.
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First up with the S&P 500. As you can see here, what a monumental day and push higher we experienced today with the S&P 500. Up 1.55%. But notice one thing I I paid attention to today.
The volume was not really there. We had 49 million shares traded on the spiders today. Just flipping it on. That's not a heavy breakout scenario day. Now you can see we had heavier volume back here.
And it really wasn't standout, you know, very low volume, but it just wasn't a big rallying cry push with investors all loading in and pushing forward in the markets. But still, we find ourselves above this declining trend line most importantly.
And what that does, guys, I'll flip the volume off. That then brings into play all-time highs as early as tomorrow with this horizontal trend line that I just drew on the chart at $779.37.
Pushing up into that area is easily accomplishable tomorrow because of what we did today. Look at that huge gap up and and move forward that we had. We could easily come up in there and be talking about brand new all-time highs while the 10-year yield is just slightly under 5%.
What this channel has said about $SPY
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