Continued strength from $SPY and $QQQ this week pushed to fresh all-time highs for $SPY while the Q’s lag close behind. Yes, the world did not end, and the market has for now shaken off any threats of rising rates / US Treasury debt default. What stands in the way or more melt?
The $SPY, in particular, closed at $453.13 (+2.06%), just below its new all-time high of $454.64. A powerful recovery from mass panic just a few weeks ago.
The $QQQ also ended the week green, closing at $374.05 (+1.75%). Ballon raindrop weekly below all-time high? Next week should be spicy!