SPY levels to keep an eye on
Bullish
- On the daily chart we see SPY dipping below and ripping above the diagonal support line
- 200 EMA acted as support on the daily chart
- From the weekly chart we see a low of $285 and it finished up at $294.35, thats a 3.16% jump. (Last time it did this was in the of Oct 29, 2019, as it finished 3.16% off its low. The following week, SPY reached a high of 3%)
Bearish
- 100 EMA will be next resistance at $295.17
- 14 day RSI at 50% is $295.24, as below we see it acting as some resistance
- MACD crossed below the centerline
- Potential resistance at the 50 EMA