SPY 209.31: Neutral – Forms a 5-month trading range
SPY rebounded off the 204.11 five-month low (July 7, 2015, near the 200 day moving average) above the 207.98 range high (July 10, 2015) to form a swing low at the former and offer scope for further strength towards 211.25 near the 76.4% retracement of the 213.34/204.11 fall. Above there would open the key 213.34/213.78 resistance zone (as shown on the weekly chart). However, back below 207.98 would prolong the consolidation towards 204.11.
Outlook:
Short term: neutral
Long term: bullish
Outlook:
Short term: neutral
Long term: bullish
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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.