SPY no mans land but look out below!

2 Ağu

It appears SPY hit it's head hard on overhead resistance and has flirted with support several times on the one day. I believe if we tap support again around $538 we will break through it to the downside. If SPY can get over the $555 resistance on a few daily candles we could test a new all time high, but that's a long shot fundamentally all companies are citing a weak consumer.