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SPDR S&P 500 ETF TRUST

SPY Testing Short-term Do-or-Die Resistance

By FOREXcom
Broker
SPY testing confluent uptrend resistance today at the 100% extension of the March advance at 411- looking for possible inflection up here.

Support now back at 402/04 with short-term bullish invalidation raised to the the uncovered gap near 400.

A topside breach from here keeps the focus on the 2023 high-day close at 416 and the stretch high at 418.

Michael Boutros, Sr Technical Strategist with FOREX.com
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