Trend: Strong bullish continuation. Price just broke above the key 610 level, entering a momentum phase toward the projected 650 target.
Structure: SPY is trading inside a rising channel. The upper bound aligns with the 650 level, suggesting this is the next liquidity zone.
Support Zones:
610: Now a critical support. If it holds, buyers remain in control.
580–560: First unfilled gap — a likely magnet if price dips.
540–530: Second unfilled gap — stronger support on deeper pullback.
500–480: Major demand block — structural bottom of the current rally.
Moving Average (EMA): Price is trading above its EMA, confirming bullish momentum.
Gaps: Two visible gaps remain open below, both likely to act as magnets if bulls lose momentum.
📈 Expected Range:
Above 610 → Target: 650
Below 610 → Watch for gap fills at 580 and 540
Structure: SPY is trading inside a rising channel. The upper bound aligns with the 650 level, suggesting this is the next liquidity zone.
Support Zones:
610: Now a critical support. If it holds, buyers remain in control.
580–560: First unfilled gap — a likely magnet if price dips.
540–530: Second unfilled gap — stronger support on deeper pullback.
500–480: Major demand block — structural bottom of the current rally.
Moving Average (EMA): Price is trading above its EMA, confirming bullish momentum.
Gaps: Two visible gaps remain open below, both likely to act as magnets if bulls lose momentum.
📈 Expected Range:
Above 610 → Target: 650
Below 610 → Watch for gap fills at 580 and 540
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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.
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.