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SPDR S&P 500 ETF TRUST
Short

$SPY short term top downside from $521 to $481

373
SPY is looking like it put in a short term top here. I originally only thought that we had the potential to fall to $545 or so, but now looking at the chart, I think we have the possibility of falling farther.

The two targets that I'm looking for on the downside are $524.35 and 481.18.

Let's see if they get hit over the coming weeks.

If they hit, it'll be the ultimate buying opp as I think from there, we're likely to see SPY over $700 in the coming year or two.
Note
Likely we bottom at the first support. $480 is for 2026.
Note
Just an FYI, I think we actually go a little bit lower than the first target. Looking at $511 as the level to bid bottom
Note
I'm actually thinking we go all the way down to $480, likely this week too.
benjihyam
Also on:
Pivot PointsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Support and ResistanceTrend Analysis

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.
Pivot PointsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Support and ResistanceTrend Analysis
benjihyam
Also on:

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.