🧠 SPY (SPDR S&P 500 ETF) — Technical Summary
Chart Timeframe: Daily (1D)
Latest Close: ~$603.75
After-Hours Price: ~$595 (notable drop of ~1.45%)
🟩 Recent Price Action:
Strong rally off March/April lows (~458) has pushed SPY through major Fibonacci levels.
Sharp uptrend support (green line) has held since bottom, but is now being tested.
Today’s after-hours drop to $595 places price back below the 78.6% Fib retracement level (~587) — a potential warning sign of a reversal or short-term weakness.
🔍 Fibonacci Levels (from ~644 to ~458 swing):
Level Price Status
23.6% ~518.2 Support (cleared)
38.2% ~536.4 Support
50.0% ~551.4 Support
61.8% ~566.1 Support
78.6% ~587.2 Currently being tested
100% ~644 Major resistance
🔺 Support Levels (Key Areas to Watch):
~587.2: 78.6% Fib + Bollinger Band middle (critical support now at risk).
~566–568: Fib 61.8% + horizontal consolidation support.
~551: Fib 50%, secondary support if breakdown continues.
Green uptrend line: Dynamic support — near convergence zone with ~587.
🔻 Resistance Levels:
~603–606: Immediate resistance (price rejected here intraday).
~615–620: Horizontal price shelf from Feb highs.
~644: Major swing high from earlier in 2025.
📈 Bollinger Bands (20, 2):
Price was hugging the upper band earlier today — sign of bullish momentum.
After-hours dip to $595 pushes price toward the 20-day SMA (~593) — possible mean reversion or early correction forming.
📉 Volume & Momentum:
Volume during the rally has been moderate to low, suggesting limited conviction.
No major volume spike despite the recent breakout attempt.
If selling volume increases tomorrow, it may confirm a short-term bearish reversal.
⚠️ Interpretation:
The after-hours dip to $595 is a yellow flag. It:
Falls below the breakout level of ~603.
Threatens the 78.6% Fib (which is a typical exhaustion zone in retracements).
May break below the sharp uptrend support line, triggering profit-taking.
Short-term bias: Shifting from bullish to neutral/bearish unless it reclaims 603 quickly on volume.
🧭 Next Key Watchpoints:
Bulls want to see:
A bounce from ~593–587 zone.
A reclaim of 603 with strong volume.
Bears want to see:
Breakdown below 587 with follow-through.
Confirmation below trendline and push toward 566.
Chart Timeframe: Daily (1D)
Latest Close: ~$603.75
After-Hours Price: ~$595 (notable drop of ~1.45%)
🟩 Recent Price Action:
Strong rally off March/April lows (~458) has pushed SPY through major Fibonacci levels.
Sharp uptrend support (green line) has held since bottom, but is now being tested.
Today’s after-hours drop to $595 places price back below the 78.6% Fib retracement level (~587) — a potential warning sign of a reversal or short-term weakness.
🔍 Fibonacci Levels (from ~644 to ~458 swing):
Level Price Status
23.6% ~518.2 Support (cleared)
38.2% ~536.4 Support
50.0% ~551.4 Support
61.8% ~566.1 Support
78.6% ~587.2 Currently being tested
100% ~644 Major resistance
🔺 Support Levels (Key Areas to Watch):
~587.2: 78.6% Fib + Bollinger Band middle (critical support now at risk).
~566–568: Fib 61.8% + horizontal consolidation support.
~551: Fib 50%, secondary support if breakdown continues.
Green uptrend line: Dynamic support — near convergence zone with ~587.
🔻 Resistance Levels:
~603–606: Immediate resistance (price rejected here intraday).
~615–620: Horizontal price shelf from Feb highs.
~644: Major swing high from earlier in 2025.
📈 Bollinger Bands (20, 2):
Price was hugging the upper band earlier today — sign of bullish momentum.
After-hours dip to $595 pushes price toward the 20-day SMA (~593) — possible mean reversion or early correction forming.
📉 Volume & Momentum:
Volume during the rally has been moderate to low, suggesting limited conviction.
No major volume spike despite the recent breakout attempt.
If selling volume increases tomorrow, it may confirm a short-term bearish reversal.
⚠️ Interpretation:
The after-hours dip to $595 is a yellow flag. It:
Falls below the breakout level of ~603.
Threatens the 78.6% Fib (which is a typical exhaustion zone in retracements).
May break below the sharp uptrend support line, triggering profit-taking.
Short-term bias: Shifting from bullish to neutral/bearish unless it reclaims 603 quickly on volume.
🧭 Next Key Watchpoints:
Bulls want to see:
A bounce from ~593–587 zone.
A reclaim of 603 with strong volume.
Bears want to see:
Breakdown below 587 with follow-through.
Confirmation below trendline and push toward 566.
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.
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.