As of early May, SPY consolidates around $560–$570, testing former support-turned-resistance.
On the daily chart, the market is pausing after a rapid rally, with $610 as major resistance and $540–$485 as key support. The 1-hour chart reflects a solid uptrend with recent consolidation between $555–$568, while the 15-minute chart shows intraday weakness with critical support at $560.
Three trading strategies emerge: (1) Bullish breakout, buying above $564–$568 with targets up to $580;
(2) Bearish breakdown, shorting below $560 with downside to $545; and
(3) Range trading, buying/selling within $558–$568 using tight stops. Confirmation via volume and candlestick patterns (e.g., engulfing or hammer) is essential.
Short-term bias is bullish, but with caution—if SPY holds $560, it could retest $570 or break higher. A drop below $556 invalidates the bullish outlook.
On the daily chart, the market is pausing after a rapid rally, with $610 as major resistance and $540–$485 as key support. The 1-hour chart reflects a solid uptrend with recent consolidation between $555–$568, while the 15-minute chart shows intraday weakness with critical support at $560.
Three trading strategies emerge: (1) Bullish breakout, buying above $564–$568 with targets up to $580;
(2) Bearish breakdown, shorting below $560 with downside to $545; and
(3) Range trading, buying/selling within $558–$568 using tight stops. Confirmation via volume and candlestick patterns (e.g., engulfing or hammer) is essential.
Short-term bias is bullish, but with caution—if SPY holds $560, it could retest $570 or break higher. A drop below $556 invalidates the bullish outlook.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.