S&P500 $SPY | SPY’s All-Time High - Where to Next? | Feb23'25S&P500 AMEX:SPY | SPY’s All-Time High - Where to Next? | Feb23'25
AMEX:SPY BUY/LONG ZONE (GREEN): $597.50 - $613.23
AMEX:SPY DO NOT TRADE/DNT ZONE (WHITE): $584.88 - $597.50
AMEX:SPY SELL/SHORT ZONE (RED): $574.00 - $584.88
AMEX:SPY Trends:
AMEX:SPY Weekly Trend: Bullish
AMEX:SPY Daily Trend: Bullish
AMEX:SPY 4H Trend: Bullish
AMEX:SPY 1H Trend: Bearish
AMEX:SPY just reached a new all-time high! How did price get there?
AMEX:SPY experienced a small range between 602.45 – 604.00, followed by bearish momentum, leading to a 3% drop in price. However, bullish momentum quickly stepped in, pushing the price up before continuing downward again. This bearish trend was short-lived and appears to have formed a developing range rather than a sustained downtrend.
Shortly after, price broke back above 597.50, signaling the start of a new bullish trend. SPY then established a ranging pattern between 597.50 - 608.00 before ultimately breaking out to a new all-time high of 613.23. Despite the breakout, price action has now dropped back into the range between 597.50 - 608.00.
Where to next? Will SPY hold its new highs, or is this the start of a reversal?
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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