๐ $SPY at a Critical Crossroads: Can It Reclaim $770?
Since forming in April 2026, $SPDR S&P 500 ETF Trust(SPY)$ has bounced off the same trendline four times. On Friday, it held again near $760.
Now trading around $767.50, SPY faces two key resistance levels:
๐น $768.50 โ 50-day SMA
๐น $771.18 โ 20-day SMA
The first hurdle is a daily close above $768.50, with a move above $770 offering a stronger signal that buyers are regaining control.
If SPY can reclaim these levels, a push toward its all-time highs could be back on the table this week. If it fails, the recent bounce may struggle to gain traction.
๐ Earnings could be the next catalyst. $TSLA and $META kick off a key stretch of tech earnings, potentially influencing broader market sentiment.
I'm watching the technical levels closely, but I'm only bullish on one of these two earnings plays this week.
๐ Key takeaway: $760 is trendline support; $768.50โ$771.18 is the resistance zone to reclaim. Until buyers clear it, the rebound remains unconfirmed.
Trade the levels, not the headlines. ๐ฏ๐
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