Global Markets Surge as Key Assets Exceed Expectations in Third Week of August 2024
Investors were buoyed by a string of bullish outcomes in major asset classes during the third week of August, as leading exchange-traded funds exceeded their projected price targets. The SPDR S&P 500 ETF (SPY) closed the week at $554.31, surpassing its $559.79 target and reaching a strike price of $562.72 on August 22nd. Bitcoin also outperformed, with the BTC.USD pair closing at $59,054 and reaching a high of $61,819 on August 21st, comfortably within its $54,072-$66,800 upper and lower range. Even the SPDR Gold Shares ETF (GLD) managed to break above its $233.66 target, closing the week at $231.99 and hitting a strike of $234.01 on August 20th. Analysts cited resilient consumer demand, easing inflationary pressures, and a dovish tilt from global central banks as key drivers behind the broad-based advances across equities, crypto, and commodities. As momentum builds, investors will be keen to see if this upward trend continues into the final week of August.
Expired SPY Weekly outlook. 3rd WK AUG 2024
> BULLISH 📈 CORRECT
Prior Week Closed Price: 554.31
This Week Target Price: 559.79
Strike Price: 562.72 on AUG 22, 2024
Upper Range: 569.59
Lower Range: 549.99
Expired BTC.USD Weekly outlook. 3rd WK AUG 2024
> BULLISH 📈 CORRECT
Prior Week Closed Price: 59,054
This Week Target Price: 60,436
Strike Price: 61,819 on AUG 21, 2024
Upper Range: 66,800
Lower Range: 54,072
Expired GLD Weekly outlook. 3rd WK AUG 2024
> BULLISH 📈 CORRECT
Prior Week Closed Price: 231.99
This Week Target Price: 233.66
Strike Price: 234.01 on AUG 20, 2024
Upper Range: 236.72
Lower Range: 230.59
Expired SPY Weekly outlook. 3rd WK AUG 2024
> BULLISH 📈 CORRECT
Prior Week Closed Price: 554.31
This Week Target Price: 559.79
Strike Price: 562.72 on AUG 22, 2024
Expired BTC.USD Weekly outlook. 3rd WK AUG 2024
> BULLISH 📈 CORRECT
Prior Week Closed Price: 59,054
This Week Target Price: 60,436
Strike Price: 61,819 on AUG 21, 2024
Expired GLD Weekly outlook. 3rd WK AUG 2024
> BULLISH 📈 CORRECT
Prior Week Closed Price: 231.99
This Week Target Price: 233.66
Strike Price: 234.01 on AUG 20, 2024