The S&P 500 SPDR ETF (SPY) and Nasdaq 100 ETF (QQQ) are both on track to close over their respective 50-day moving average for the first time since February 21. This is another of many recent bullish trend signals for both indices. The 50-day moving average is used by many institutional investors as a key gauge of the intermediate trend. Also, of note, the Nasdaq 100 ETF (QQQ) has reclaimed all of the loss since the close on April 2, Liberation Day. SPY is just below the April 2 close. This is another bullish trend signal that confirms our technical view that the S&P 500 lows on April 7, at 4835, will be the low for this cycle, barring a U.S. recession in 2025. My post from 4/11/25, here.
4/11/25 post here.
