SPY Testing Short-term Do-or-Die Resistance
SPY testing confluent uptrend resistance today at the 100% extension of the March advance at 411- looking for possible inflection up here. Support now back at 402/04 with short-term bullish invalidation raised to the the uncovered gap near 400.
A topside breach from here keeps the focus on the 2023 high-day close at 416 and the stretch high at 418.
Michael Boutros, Sr Technical Strategist with FOREX.com
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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.