SPDR S&P 500 ETF TRUSTUpdated SPY Day chart with strong Support and Resistance levels
The white liens represent strong support and resistance levels from the past decade (after testing support back on the jump in June, it became a resistance until we broke through it -- watch this level).A retracement back to mid 330s is possible, but if not, I'm leaning bullish with a PT of 356-358 in the coming weeks. A break of the following support levels, however, could deem very bearish results.
Note
AAPL bounced well off of the first support level, looking forward to more green over the next couple days -- however, the market overall does not look too strong right now and with the election coming right up on the corner, I wouldn't be surprised by last weeks sell-off be the beginning of a new downtrend. Good Luck!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.