The analyst believes the market (SPY) has not topped yet and expects more upside until at least the end of August when NVDA reports, with a potential risk if the FED raises rates in September.
Market unlikely to top before NVDA reports at end of August; FED rate hikes from September could trigger a top; until then, more upside expected.
$SPY I don't believe the market has topped yet And I find it next to impossible for the market to top before $NVDA reports at the end of August. If the FED increase rates from September, this could be the trigger however. Until then, we can take more from this market. https://t.co/feaBNKaksb
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -1.6% | -0.9% |
| 1 week | -0.5% | -1.9% |
| 1 month | +0.4% | -0.3% |
| 3 months | — | — |
| 6 months | — | — |