There’s a tug-of-war going on in the markets right now.

As I showed you last week, the S&P 500 has no resistance from 550 to 580, and SPY could reach the high end of that range by November.

So long-term, stocks still look good.

In the short term, however, there are three problems…

First, the technical action we’ve seen lately in the SPDR S&P 500 ETF(SPY) itself…

I’ll tell you exactly what I’m seeing in today’s video, but what you need to know right now is that the long-term chart and the short-term chart do not agree with one another.

Now, SPY could break out of this formation and power higher – I’ve been saying, there’s nothing technical stopping SPY from getting to 580.

But that could change, depending on what happens next.

We’ll see how it develops – but I don’t think it’s a coincidence that the long- and short-term charts are out of alignment.

We’re seeing a few other signs of weakening in stocks right now…

Remember last week, Invesco DB US Dollar Index (UUP) was heading to post-COVID highs, a bad sign for stocks.

Unlike SPY, the short-term chart for UUP aligns perfectly with the long-term chart…

Both charts suggest a bullish outlook for UUP. That could weigh on stocks.

And third, just today, I released the Money Calendar for July…

And wouldn’t you know it, it’s forecasting a bearish end to the month.

In today’s video, we’ll compare the long- and short-term outlooks for stocks, bonds, commodities, and currencies (I already gave you my long- and short-term outlook for the crypto markets last week).

Now, for the record, I’m still bullish. There’s nothing on the short-term SPY chart that confirms we’re heading lower. So until I see confirmation that stocks have gone bearish, I’m sticking with my long-term bullish outlook.

Because, let’s face it, this market right now is being powered by hype surrounding artificial intelligence.

And that phenomenon isn’t going anywhere.

In fact, it’s just about to kick in to high gear – what I call the “Final Phase.”

More money will be made in AI in the next few months than we’ve seen in the past 5 years.

But you have to know exactly how to play it.

Because if you’re buying and holding AI stocks, like most so-called experts are telling you to do right now, you will get crushed.

I want you to be ready for what’s about to happen. So later this week, I’ll be sharing :

• What’s coming next for AI stocks – and why buy-and-hold investors are at risk

• How I’ll use one of my systems to time the market and get out clean – before the bust

• And how to make exponentially more on AI stocks BEFORE the market turns.

It’s all leading up to my webinar on July 9 at 8 p.m. Eastern – where I’ll give you my full plan to profit as we enter the Final Phase. You can reserve your spot now to join me for free.

Just click below to get started with today’s video – and I’ll be back with you tomorrow!

Good trading,

Tom Gentile
America’s Pattern Trader