Get started
realchartchamp

S&P500: Key Support Level for SPY Bulls to Defend

Long
SPDR S&P 500 ETF TRUST (BATS:SPY)  
realchartchamp  
BATS:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators SPDR S&P 500 ETF (SPY) spy500 spylong spyanalysis spyforcast spysignals spycalls spyidea spyindex
0
0
trendanalysis chartpattern indicator spy spy500 spylong spyanalysis spyforcast spysignals spycalls spyidea spyindex
The S&P 500 been gradually breaking downwards since peaking in July. SPY has reached the bottom of this red parallel channel last week. This is a key support level that has been providing strong support, and I think SPY bulls need to defend this price level this week. The RSI is oversold so the conditions are good for a rebound here.
Want more of my content?

Check out my YouTube and Twitter updates across all financial markets

Join my exclusive Discord community for swing trading, options trading, and long-term investing.

There is a free trial period for the group

Links👇

Related Ideas

realchartchamp
S&P 500 at Strong Resistance, Short Trade Setup for SPXS
realchartchamp
$SPX: The S&P 500's Key Yellow Resistance Target
realchartchamp
$SPY Quarter 3 (Q3) Analysis
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.