SPDR S&P 500 ETF ($SPY)

$SPY has been trading between 380-415, a difference of 35 points. From the chart on the bullish side it looks like a possible ‘V’ pattern which would indicate a possible price target of $450, which was a resistance point in early 2022. If $SPY fades and breaks $380 from the bearish side it would look like a possible double top with a price target of $345. Exactly the low of 2022 where it bounced off of in mid October of last year.

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SPDR S&P 500 ETF ($SPY)

Joey Ramson