SPDR S&P 500 ETF TRUST
Long

Hold the 293 Support

68
If we're able to hold the $293 support and bounce off SPY should move to at least around $295.50 with the possibility of $298 this week. If we fall through the $293 support next move down would be around $289. Pre-market we're down slightly hovering around the $293 support. The MACD is looking ready for a bit of a move down with RSI also ready for a slight momentum break before it continues up into overbought territory so a neutral trading range of $292-$294 would allow for MACD and RSI to both set up for another SPY move up to $298. Watch to see how prices react after Monday open and whether we hold and bounce up from $293.

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.