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S&P 500: This Rally Is Real And Can Go On Further (Technical Analysis)

Aug. 02, 2022 6:00 AM ETVanguard S&P 500 ETF (VOO)AAPL, AMZN, GOOG, GOOGL, META, NFLX, VFH, VGT, VHT6 Comments


  • Over the past two weeks, the S&P 500 shrugged off a series of bad news from record CPI print, weaker GDP growth data, and a still hawkish Fed.
  • Furthermore, relatively weak earnings from the leading companies didn't bother the market as it continued its recovery. As a result, the market has continued to rally on bad news.
  • We also noted robust long-term bottoming signals in Technology, Financials, and Healthcare, which are the most critical sectors in the VOO.
  • Therefore, we believe the medium-term bottom in VOO is robust and should sustain its recovery from here. Notwithstanding, it's technically near-term overbought and should see near-term downside volatility.
  • Therefore, we rate VOO as a medium-term Buy. Investors can consider a short-term pullback first before adding exposure.
  • I do much more than just articles at Ultimate Growth Investing: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

Bull with Pink Purple Moody 80s lighting

Paul Campbell


The Vanguard S&P 500 ETF (NYSEARCA:VOO) is at a critical juncture after staging a remarkable recovery from its July lows. Our analysis suggests that it should also form VOO's medium-term bottom and sustain a robust medium-term

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This article was written by

JR Research profile picture

Ultimate Growth Investing, led by founder JR Wang of JR Research, helps investors better understand a range of investment sectors with a focus on technology. JR specializes in growth investments, utilizing a price action-based approach backed by actionable fundamental analysis. With a powerful toolkit, JR also provides insights into market sentiments, generating actionable market-leading indicators. In addition to tech and growth, JR also offers general stock analysis across a wide range of sectors and industries, with short- to medium-term stock analysis that includes a combination of long and short setups. Join the community today to improve your investment strategy and start experiencing the quality of our service.

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About JR: He was previously an Executive Director with a global financial services corporation and led company-wide, award-winning wealth management teams consistently ranked among the best in the company. He graduated with an Economics Degree from Asia's top-ranked National University of Singapore (NUS). NUS is also ranked among the top ten universities globally. I currently hold the rank of Major as a Commissioned Officer (Reservist) with the Singapore Armed Forces.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN, META, GOOGL, MSFT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (6)

I read approximately one constructive remark per ten destructive or simplistic remarks, your job can’t be easy but I do appreciate your hard effort. Thanks.
02 Aug. 2022
Mm, maybe. We'll see but my bet is for down today.
JR Research profile picture
@elba volatility creates the opportunity to digest the overheated short-term momentum.
Your critique was good. Thank you. I bought heavily through those early 4 weeks before the rally. I called the bottom and I’m very glad your analysis lends support to my buying. I’m expecting a run to a full recovery over the next 6 months in the S&P. The NAZ will do extremely well. I recommend you buy into high growth tech names now that have high cash, modest or low P/S and strong yoy rev growth, as soon as hawkish sentiment by the Fed softens they will rally up in a vacuum.
JR Research profile picture
@better investing Thanks for sharing your insights! Indeed, high growth should lead us out of this mess!
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