We are approaching major support for $SPY
February 21, 2023 - by Editor Prism MarketView
We are approaching major support for $SPY – the key trendline from the October lows along with the 50 and 200 Day Moving Averages. As interest rates continue to rise, and the Fed seems set on holding firm longer than most expected, it looks like we will be testing these support levels very soon. The resolution of this will most likely set the tone for the next significant directional move.
