SPDR S&P 500 ETF TRUST

SPY close analysis 5/2/2023

82
Bears showed up as per yesterday's confirmation (see related post) and we found support just below 409. That's a bit deeper than I expected today but well within a pullback threshold.

Tomorrow is interest rate decision. It's a total lotto guess where things will go from here: gaps at 405 and 415 both beg to be filled. The initial move will most likely wick into one zone and be the false move with the follow-up real move in the opposite direction. My long term bias is still bullish-leaning into the 420's.

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