SPY $671 Approaching All-Time High: $680–685 Seen Above $674
$SPDR S&P 500 ETF Trust(SPY)$ closed at $671.29, essentially flat (+0.0%), only about -0.4% away from its all-time high of $673.95.
The index has remained at a high for five consecutive days, indicating a strong bullish structure.
Growth and Blue Chips Resonate
Driven by this, the three major US stock indices rose simultaneously. Overall earnings season guidance was positive, and funds continued to rotate between the technology and industrial sectors.
Investors' growing confidence in interest rate cut expectations and slowing inflation further strengthened market risk appetite.
Breakout or Breakdown Ahead
From a technical perspective, trading volume is approximately 54–56 million, the MACD continues to rise, the RSI remains moderately strong, and the price remains above the EMA20, forming a favorable "trend extension" pattern.
Over the next week, if the upper limit of $674 is broken, the target range is $680–685; in the event of a short-term correction, support lies at $664 and $658.
Valuation
SPY does not have a specific P/E ratio, while the overall S&P 500 $S&P 500(.SPX)$ valuation is approximately 28–31 times, slightly above the long-term average but still within a reasonable range.
⚠️ Risk Warning
Interest rate repricing, changes in financial reports, and macroeconomic data may trigger short-term fluctuations. Technical analysis results are for reference only.
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