The moving average you see drawn in blue is 26 weeks = 6 months.
If we stay above this line, there is no reason to think we won't go higher; in fact, this level is a great place to enter a position.
There is also horizontal support around $450.
If we stay above this line, there is no reason to think we won't go higher; in fact, this level is a great place to enter a position.
There is also horizontal support around $450.
I expect we see the SPY to stay within its large horizontal range for some time.