BULLISH

• A positive MACD crossover on the daily chart confirms SPY is moving in a positive uptrend. The last time we saw this type of behaviour we went on to test the top bollinger band on the daily chart
• 5 EMA acts as support on the daily chart, any dip around the $296 level should be a good buy in the short term

BEARISH

• A double top can be observed on the MACD through the hourly chart
• On the hourly chart we see the 70 level RSI acting as resistance
• MACD on the weekly chart has yet to make a bullish crossver

Hourly Chart

Daily Chart

Weekly Chart