SPY Technical Analysis

2021年3月19日

SPY Technical Analysis

Key Levels:
- Supports: Yellow Horizontal Lines - 371.90, 378.50, 385.85
- Resistance: Orange Horizontal Lines - 394.20, 398.12

RSI- Bearish Divergence
Bollinger Bands - Moving Average 388, Lower Band 376 upper 399

Yesterday we closed at all time highs and then we gapped down in the morning due to bond yields rising and had bearish price action going into close. Tomorrow is Friday so weekly close will be important to determining if we see $400 or not. If we reject resistance levels and fall through moving averages and next support levels I think SPY will see 370s to test lower bollinger band. I will continue to trade cautiously and keep some cash on the side because of the bearish divergence. 394 will be a key level to stay above for $400. Below $390 and I think we will see $385 and then will continue to watch price action for bounces, break throughs, and rejects at key levels.