SPY breakout with a bullish run
S&P finds support around $355, reached the price target from last week of 357 multiple times.
Post-2016 election we had a very similar breakout and retest from the previous high. In 2016 that took about a month to mature, and in 2020, w/ the news from PFE , we accelerated the process, but I expect the history will repeat itself and we will have a nice bullish run for the next few weeks.
What's different in 2020 is to pay attention to the rising COVID cases and the 2nd wave of shutting down.
Post-2016 election we had a very similar breakout and retest from the previous high. In 2016 that took about a month to mature, and in 2020, w/ the news from PFE , we accelerated the process, but I expect the history will repeat itself and we will have a nice bullish run for the next few weeks.
What's different in 2020 is to pay attention to the rising COVID cases and the 2nd wave of shutting down.
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