S&P 500 Index
Investment Thesis
SPY just reclaimed both the 50-day ($674) and 200-day ($664) MAs after a sharp March selloff, accompanied by a rare breadth thrust — % of S&P 500 stocks above their 50-day MA surged +41.6% in a single week. Price now sits just 2.3% below the 52-week high with elevated put/call ratios still signaling residual fear — a classic "wall of worry" setup.
Catalysts to Watch
SPY reclaimed both SMA-50 ($674.29) and SMA-200 ($664.36) in a sharp 7-session recovery from the March 30 low of $631.97, while the % of S&P 500 stocks above their 50-day MA exploded +41.6% in one week — a textbook breadth thrust.
Why It May Work
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Timeline
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