Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

March 18 S&P 500 Update – SPY’s Weekly Open at Resistance

$SPY had a weekly open with a bullish gap higher. This weekly open is at the white resistance line, and SPY has been trading sideways within a range between the light blue trendlines with lows around $508 and highs around $517. Why is SPY bullish today? Nvidia has an important GTC event today, and investors are hopeful that Nvidia can continue to carry the stock market on its shoulders. There is an FOMC meeting on Wednesday that will be important this week as well. For now I think SPY continues trading within this range.

ChartChamp socials: https://linktr.ee/realchartchamp

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

IWM Struggling to Break Through the Red Resistance Line

IWM was attempting a bullish breakout above the red resistance line. However, this turned into a failed bullish breakout and IWM is back below the red resistance line again. I would monitor for more attempts to break the red resistance line over the next few weeks. For now there is support building up around $191. […]

Read More
Default Thumbnail

QQQ Weekly Open with a Bullish Gap

QQQ had a bullish weekly open with a gap higher. I have updated my charts, and I have the red resistance line as a key price target of interest at $446.09. I think QQQ could have some upside this week especially if we get some strong data and strong earnings announcements from the Mag 7. […]

Read More
Default Thumbnail

SPY Potential Rebound Soon

We have a big week ahead in the stock market with a lot of big companies reporting earnings. The S&P had a very bearish week last week and I think we could see a rebound this week. It will be important to see if the Magnificent 7 reports strong earnings, and whether GDP and PCE […]

Read More