- SPY has been in a long-term uptrend, with two major corrections (2022 & 2023) that touched the primary trend line before recovering.
- The most recent bullish channel (late 2023 - early 2024) has broken downward, indicating a short-term pullback.
- SPY remains bullish in the long-term as long as it stays above the primary trend line (~$500).
- Short-term correction might continue toward $550 before resuming the uptrend.
⚠️ Disclaimer: This is not financial advice. Always conduct your own research before making investment decisions.
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.