Jun. 29 at 2:15 AM
$SPY
Multiple years ago, I said the SPY would run into issues around
$750
The resistance is there.
Look at this chart. Price to book ratio.
High P/B ratios can indicate strong growth expectations or overvaluation.
The earnings better keep rolling in, but I say they won’t as we move into 2027.
Commodities will pressure corporations more and more. The SPY only has about 5-6% weight in materials and energy.
The two sectors that will slam the earnings of the index itself.
$B $XOP $XOM $EOG
Commodities is where the money is going to be made.
Throw in emerging markets, agribusinesses and food producers.
Yes, I’m still over here pounding my table. 🤣
Just keep in mind, this madness can last longer than we think. I’m not shorting anything, yet. 👍
