$SPY barely closed positive by 0.02% yesterday. Tech heavy Nasdaq was again strong as the index is well stacked with companaies that have increasing revenue stream from digitization in the coronavirus economy.
$ES futures are up 12 handles as of now and are pointing to a higher open for $SPY. It is likely that the 292.93 at 61,6% retrace will be tested and perhaps taken out today.
Volatility is getting lower which also supports higher prices.
$SPY support is 288-290 and resistance at 293, then 297 and 300.
A strong move is imminent as the prices getting squeezed tight.
Going with the flow whichever way it breaks.
$ES futures are up 12 handles as of now and are pointing to a higher open for $SPY. It is likely that the 292.93 at 61,6% retrace will be tested and perhaps taken out today.
Volatility is getting lower which also supports higher prices.
$SPY support is 288-290 and resistance at 293, then 297 and 300.
A strong move is imminent as the prices getting squeezed tight.
Going with the flow whichever way it breaks.