Import support and resistance levels to watch in the SPYs.
S&P 500 – Despite all of the hysteria about how the so-called ‘Trade War’ has markets plummeting, the SPYs are right back to the same level that they were at when the Fake News Financial Media started reporting this ‘story’. They have broken their recent downtrend after finding support around the $268 level, which was the same level as the low on May 29th. Short-term this level will probably continue to be support.
If they continue to rally they will probably hit resistance around the $280 level. This was the top in February, March, and mid-April. Longer-term, there should be support around the $260 level because that is where the lows were earlier this year.
If they continue to rally they will probably hit resistance around the $280 level. This was the top in February, March, and mid-April. Longer-term, there should be support around the $260 level because that is where the lows were earlier this year.
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