SPY Watch The Open...

I wanted to share some important insights about the SPY (SPDR S&P 500 ETF Trust) based on the latest market data.

Our analysis has identified several key points that could impact your trading strategy:

1. Current Price Action: The current price of SPY is around $548.99, showing a slight decline of 0.18%.
2. Support Levels: We have identified support levels around $548 and $544.
3. Resistance Levels: The recent peak around $565.15 acts as a resistance level.
4. EMA Analysis: The chart includes two EMAs (Exponential Moving Averages) - EMA5 at $549.53 and EMA15 at $551.98. The price is currently below both EMAs, indicating a potential bearish trend.
5. RSI Indicator: The RSI (Relative Strength Index) is at 33.33, suggesting the stock is approaching oversold conditions.

Trading Strategy Insight:

• If the price holds at the $548 support level, it might present a buying opportunity for a short-term rebound.
• If the price breaks below the $548 support level, it could signal further downside potential, with the next support around $544.
• Watch for any bullish signals such as a price move above the EMAs or an increase in RSI above 30 to consider a buy position.

For more detailed strategies and insights, I invite you to join our webinar before the market opens tomorrow. During the webinar, we will discuss our Hot Shot system's latest order and how you can leverage it in your trading.

Click here to see how the system works

To Your Trading Success,
Casey Stubbs

If you have any questions or need further information, please don't hesitate to reach out.