SPY Analysis SPY 65m: An acute SPY study shared with peers was used to example the weekly movement of SPY. SPY vs ES was used as a benchmark for S&P Cash Index due to intraday activity (as of recent). Using the 65m horizon, key inflection points were identified using market structure and regression analysis.
Session highs for the index ending the week and quarter and marking a new yearly high with current price for SPY trading at 443.28 at the end of session. With July historically associated as a risk on period for the market, longer term bias for neutral-bullish remains (please seek 6WK study for ES1).
Forward looking (on acute horizon), fibonacci analysis was applied to current structure being developed during price rediscovery and confidence of character being developed where key levels are: 444.30 (HOD), 443.99, 443.62, *443.09*, *442.71*, 441.91, 441.11
*Prices of higher interest using fibonacci application
Bias: Neutral to risk on
ATR: 4.27
Price at time of publish: 443.28 (amc)
