Yesterday I made a humble prediction that SPY would continue bullish based on the potential 10-day MA crossing over the 50-day, along with the bullish candle from 5/8.

Maybe it’s luck, or maybe it’s just trusting the TA, but today’s close on SPY has given me a reason to be excited that my original $530 target from last month is not so out of reach (albeit, was a little too early on it).

Today’s candle closed well above both moving averages, and I would be looking for that crossover to complete as early as next week (or maybe this week if we get a really surprise big move).

Tomorrow 5/10 could see as high as $522.50, and bears would need a significant move downwards to the previous supports which are roughly $518 and $515. I remain on the bullish side for seeing ATH by 5/17.