SPY potential pullback

10月4日

With USA elections looming, geopolitical instability and wars intensifying in the middle east looking at the price action on SPY, currently retesting 570.00 region after swinging in the past two weeks between 574.00 - 565.00. Technical indicators show a possible buyer exhaustion and now a sellers market with investors taking profits therefore possibly driving price action downward. looking to retest support at 550.00 - 545.00. Our main resistance currently is 570.00 if not broken we could see price move to test support levels and below.