Stock Market Crucial LEVEL To Watch!
In this Email letter I go over the crucial levels for the $SPY and what to expect.
Chart 1 - $SPY Weekly Timeframe via TradingView.com
The S&P 500 Is Going For $410
The S&P 500 has been falling dramatically for the past year and has had multiple rallies while dropping YTD. The past month the SPY has been up over 5%. Looking at the white trend line (drawn on Chart 1) 410 is a crucial level to watch for the bulls. Buyers have tested that level many times and have always rejected it.Â
Chart 2 - $SPY Daily Timeframe Zoomed In via TradingView.com
The Stock Market Is Making Higher Lows
Taking a look at a closer picture on the daily timeframe (Chart 2). We are making higher lows which is good for the bulls. We are approaching 402.38 which is a resistance on the daily timeframe. Above 402.38 we have 410.96-412 as our resistance which is the white trend line that I went over on the Chart 1. It is really important that we hold and stay above the higher low which is @ 390 for the bulls.
In Conclusion For $SPY...
- Bulls Need To Hold 390 To Be Bullish
-Â Above 402 Price Target 410
- 410 is a tough level to break
Stay Tuned!
I will be posting Weekly Newsletters on stocks to watch and a lot more educational content. - Firecycle114Â