Here’s an updated list of stocks that make up SPY. The top 10 in green make up over 22% of the weight of SPY. The next 23 make up about 20% of the weight. So I focus mostly on the names in green, though understand that the banks (BAC/WFC/C) and healthcare stocks typically move together. Some of these are also on the DOW. Some of these are on NASDAQ.
SPY was started on January 22 1993 by State Street. It was the first ETF ever. It holds about $278 trillion in assets. It does pay a yearly dividend
This is the current trend of SPY. As you can see we are near the top of the trend, which is an ATH so tough to break and also a lot of hesitation to break it. Last time we got a trillion dollar company (AMZN) we had a great fall. Just had another trillion dollar company (MSFT) will history repeat at the same top?
For AMZN it was about a month after first hitting 2000 that it double topped and came back down
MSFT’s setup is a bit different but we’ll see. Also SPY’s weekly chart is stronger leading up to 293.94. The monthly chart is also completely different as we see a golden cross but volume is a tad light to break out. ER next week will decide much.
290.52 is the same support line SPY broke out from before so good line to keep an eye on