S&P 500: Broke Above Our 265

We called out yesterday the S&P 500 SPY ETF (NYSEARCA:SPY) having a key level of 265. Breaking above it is bullish and can follow through.

This is what we said yesterday,

"Whatever happens we need the market to guide us. We think the two key levels are 265 and 261 for the S&P 500 ETF SPY. Closing above 265 and we'd expect the market can continue to have follow through to the upside. Not doing it and it's worth being patient."

A little after 12 EDT yesterday on chat we recommended to start buying ahead of the Fed when we saw the market was already comfortably above 265. We felt it could hold higher by the close.

And we're seeing the follow through today.

I think this follow-through today can last a week or two potentially. The market could also get excited about the coming trade war resolution meeting coming towards month's end.

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Here's what subscribers are saying,

"The market is flat for this year and I am up over 50% in my account, thanks to Chaim!"

"Chaim, You have called it better than anyone I know over the last few months."

"great work Chaim! rock star ur a rock star!

All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless. We have no holdings in the stocks mentioned unless otherwise noted.

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