- As technical traders, we look exclusively at the price action to provide specific clues as to the current trend or a potential change in trend.
- The current resistance for the SPY is the 475 top that happened around January 6, 2022. This top was 212.5% of March 23, 2020, low that was put in at the height of the Covid global pandemic.
- Now, after experiencing a nice rally back of a little over 50%, we are waiting to see if the rally can continue or if rotation will occur, sending the price back lower.
For further details see:
What Will Be The Impact Of Rising Rates On Stocks And Commodities?