SPY — All updates

So, let's start with the S&P and the QQQ today. They're down, right? S&P and Q's are both down, but I want you to pay attention to something.

S&P. We take a look at this, it's about 11 4 million compared to 42 million. So significantly smaller than lower than average volume, right? But for me taking a look at this, what I see is the following.

Well, first off, I see a small ups sloping trend line that we are trying to break here, right? That could mean a broader downturn, you know, maybe about 1%. But that's not really telling me a whole lot.

All right, let's take a look at the spy chart. Let's see where we are and where we might be going here this week. Remember, we just talked to you about several key earnings reports coming this week.

Some from the AI uh sector, some from the cyber security sector. I think that's really headlined by Palo Alto as discussed and then also Broadcom. uh you could throw in there. Now, last week for pretty much the entire week, we spent it riding the 20-day and we find oursel near that again here today.

We are technically beneath it right now ahead of uh Monday's open. So, for me, a key level here is definitely going to be 76971. It's only 20 cents away from where we're currently at.

You want to call it 770, that would make sense, too. I would imagine that would also uh be a key level here. But um the formation that we are making on the daily chart here less than ideal for the bulls.

We did trade up on Friday towards the previous all-time high level of 77685. We did not quite test it, but then we pulled back in and held the 20. That sets up today where we're beneath the 20.

Can we close above or beneath that? We'll see. That should determine the direction. Now, the thing is is if we do close beneath it, and then we looks like we're going to move lower.

We actually have a lower high on the daily from uh August 14th or August 13th, which is where the all-time high is set. So, we'll see if that pattern continues here or if maybe we can kind of reverse that uh right off of the right off of the 20. See if we can recapture that.

Okay, so this is the Aslim Stock Market Outlook S&P 500 SPX for Friday, August 28th, 2026. Let's go ahead and hop into the charts. This is our grid that we actually share with level four members, uh where you can see our SPX uh and NDX and RUT analysis.

Let's first uh show you the S&P, which is what we're going to be honing in on in this video.

So, we're starting here with the with the S&P. And today, the S&P is kind of not doing a whole lot, right? We initially looked to open up slightly higher and even pushed up. We're up about half a percent.

Look like we're going to tackle those potential all-time highs again. Not quite. Big reversal in the markets.

So, I want to focus here on what's taking place in the S&P, and if you notice in both time frames now, we have this declining moving average, and we've got we've just made a lower high and a lower low in the average true range on the weekly, and you can see this bigger one on the daily chart, all right?

So, this is basically a zoomed-in version of this chart. And what what I'm saying here is with this declining volatility and rising trend in both time frames, this is a pretty solid condition to be in place for stock picking, to be able to buy stocks.

Now, we'll get into the charts and start off with the S&P 500. Guys, you can see here on the S&P 500, we continue to maintain within this bearish near-term consolidation after coming down from this pivot high top back here on August 14th.

Now, the spiders, as I've been highlighting, we should have an area of support right here at $760.40. That's the previous all-time highs. We've broken out above that, confirmed above it.

That means any sort of retrace down to this level is a buying opportunity.

The gains have been incredible this year. Uh almost doubling the return of the S&P 500 which has been fantastic.

We're going to look at the S&P 500. The market is slightly green today at 18%. So, this is the S&P 500. You can see it's in the top portion of these these Bowlinger band ranges.

We've got a point of control uh fairly recently uh below the 6,900 level.

All right. Uh hey, let's go back over here to SPY because it's time for our lesson of the day. How often should you rebalance? Longer term investors, right? Uh your 401k, like I know it does it automatically, and you can pick like 1 month, 1 quarter, every 6 months, once a year.

What should you pick, right? So, our friends over our partners actually over at YCharts did this study. So, their study was better than mine. I happened to see it when I was putting together my study and said, "I'm just going to steal your stuff."

And they're okay with that, they actually so that's fine.

We still have spy on the right-hand side, equities on the right-hand side, so that's really the only sector against VBI and X in a relative uptrend, but it's losing momentum.

It's doing that for last couple of weeks already. Basically started to roll over here, that's July 10th, and is is in that same rolling over trend ever since and it's now crossing into the weakening quadrant.

We saw the S&P come down to the uh 20-day moving average and the anchor off of the Leopold low and that's exactly what we were looking for this week is for it to pull back down into that range.

Now, so far it looks like that anchor is the low, but we still have a declining 5-day moving average, so I don't quite trust this.