SPY (S&P500 ETF) - Daily Price Consolidation - End of 2024SPY (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