SPY shows bearish technicals (sell signal, downward trend) despite all-time high; less attractive than Q's stocks due to traditional company drag and Nasdaq divergence.
Bearish
“📊 What a "Green" September ACTUALLY Means for October (21 Charts)”
InvestAnswersPublished Sep 30 · 1 passage
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Let's take a look at the S&P 500. As I said before, we are at the all-time high, but we have a new sell signal here and the trend looks downward. Remember that Nasdaq can only move the S&P 500 index by a certain amount.
The S&P 500 index includes a lot of old, traditional companies that don't actually move in the same way. But we are now seeing a divergence between the Nasdaq and the S&P 500. I would be more bullish on Q's stocks here than on the S &P 500.
What this channel has said about $SPY
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2026-09-30BearishThis one
Let's take a look at the S&P 500. As I said before, we are at the all-time high, but we have a new sell signal here and the trend looks downward. Remember that Nasdaq can only move the S&P 500 index by a certain amount. The S&P 500 index includes a lot of old, traditional companies that don't actually move in the same way. But we are now seeing a divergence between the Nasdaq and the S&P 500. I would be more bullish on Q's stocks here than on the S &P 500.
Direction flip
2026-09-23Bullish
S&P 500. Here we go. Still very close to breaking a new alltime high. It's in within 1% of a new all-time high. Still strong. Trend is up.
Quote at 03:46 ›