SPY Resilience: Market Confidence at 622 Support Level (E84)

SPY making new highs has support at 622 where it could bounce up, fill the gap, and continue making new highs, signaling resilient market confidence. Meanwhile, BTC has reached an impressive milestone of 120k, reflecting growing institutional adoption and widespread interest in cryptocurrencies. As interest rates continue to remain unchanged, we witness peculiar shifts in the housing market, with an increasing number of homes sitting unsold for longer periods. Agents are holding more open houses, suggesting a potential slow down in buyer urgency. Could we be seeing the transition to a buyer’s market, where buyers gain the upper hand in negotiations and pricing? This week, we have the highly anticipated CPI release along with the weekly jobless claims, both critical indicators that may influence investor sentiment moving forward. Additionally, amidst all these developments, there have been persistent rumors of a rate cut projected for September. What do you think the Fed will do with all of these tariff wars looming over the economy, potentially complicating their decision-making process?