The second week of August saw a downturn in market sentiment, with both the SPY and BTC.USD weekly outlooks expiring bearish. The SPY fell to $531.00, marginally above the strike price of $530.95, while Bitcoin plummeted to $60,378, significantly above the strike price of $56,797. In contrast, gold prices failed to meet expectations, with the GLD weekly outlook expiring neutral but incorrect, closing at $224.56, narrowly above the target price of $224.52. The notable upper and lower ranges for the week, $674.90 and $387.10 for the SPY, $64,931 and $55,825 for Bitcoin, and $228.53 and $220.51 for gold, highlight the market's volatility. Investors will be watching closely to see if this bearish trend continues into next week.
Expired SPY Weekly outlook. 2nd WK AUG 2024
> BEARISH 📉 CORRECT
Prior Week Closed Price: 532.99
This Week Target Price: 531.00
Strike Price: 530.95 on AUG 12, 2024
Upper Range: 674.90
Lower Range: 387.10
Expired BTC.USD Weekly outlook. 2nd WK AUG 2024
> BEARISH 📉 CORRECT
Prior Week Closed Price: 61,647
This Week Target Price: 60,378
Strike Price: 56,797 on AUG 15, 2024
Upper Range: 64,931
Lower Range: 55,825
Expired GLD Weekly outlook. 2nd WK AUG 2024
> NEUTRAL 📊 INCORRECT
Prior Week Closed Price: 224.56
This Week Target Price: 224.52
Upper Range: 228.53
Lower Range: 220.51
Expired SPY Weekly outlook. 2nd WK AUG 2024
> BEARISH 📉 CORRECT
Prior Week Closed Price: 532.99
This Week Target Price: 531.00
Strike Price: 530.95 on AUG 12, 2024
Expired BTC.USD Weekly outlook. 2nd WK AUG 2024
> BEARISH 📉 CORRECT
Prior Week Closed Price: 61,647
This Week Target Price: 60,378
Strike Price: 56,797 on AUG 15, 2024
Expired GLD Weekly outlook. 2nd WK AUG 2024
> NEUTRAL 📊 INCORRECT
Prior Week Closed Price: 224.56
This Week Target Price: 224.52