SPY: Bear Market Rally Or A Major Bottom?

Nov. 11, 2022 7:08 AM ETSPDR S&P 500 Trust ETF (SPY)SPX, XLK, XLRE, XLY110 Comments
Damir Tokic profile picture
Damir Tokic
4.43K Followers

Summary

  • Large 1-day rallies are usually associated with the bear market rallies.
  • Major bottoms require a policy change.
  • The Fed is still in inflation-fighting mode.

Uptrend rising arrow minimal 3D illustration

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The top 20: daily returns for S&P500

The SPDR S&P 500 Trust ETF (NYSEARCA:SPY) that tracks the S&P500 soared by 5.6% today (11/10/2022) - and almost broke into the top 20 daily S&P500 returns in history - since the 1920s. So, what does

10y-3mo spread

FRED

SPY sectors

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This article was written by

Damir Tokic profile picture
4.43K Followers
Global-macro research. Proprietary trader. Holding a valid Series 3 license as a Commodity Trading Adviser, member of National Futures Association. Professor of Finance. Editor-in-Chief Journal of Corporate Accounting and Finance.

Disclosure: I/we have a beneficial short position in the shares of SPX 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.

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