SPY (S&P500 ETF) is currently in a short-term consolidation price pattern (end of December 2024).
SPY price needs to hold and rally above $583 to avoid a daily bearish head-and-shoulders resistance price pattern.
Support Prices to the downside are: $583, $577, $569, $555, $532.
Resistance Prices to the upside are: $592, $600, $604, $613, $626.
Several Key Events will be occurring in the USA, January 2025:
-CES 2025 Conference (week 2)
-Inflation Data (week 2)
-Stock Market Earnings Season begins (week 2 to 4)
-New President taking office, potential law changes (week 3 to 4)
-FOMC Press Conference (week 4)
Note: Any of the above events can cause stock market volatility and override technical charts.
Date: 12/30/2024 pm
SPY price needs to hold and rally above $583 to avoid a daily bearish head-and-shoulders resistance price pattern.
Support Prices to the downside are: $583, $577, $569, $555, $532.
Resistance Prices to the upside are: $592, $600, $604, $613, $626.
Several Key Events will be occurring in the USA, January 2025:
-CES 2025 Conference (week 2)
-Inflation Data (week 2)
-Stock Market Earnings Season begins (week 2 to 4)
-New President taking office, potential law changes (week 3 to 4)
-FOMC Press Conference (week 4)
Note: Any of the above events can cause stock market volatility and override technical charts.
Date: 12/30/2024 pm
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Follow Me on TradingView, Youtube, X, Instagram.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.