SPY intraday holding up very well at 619 over the last two sessions.
It'd be ironic if suddenly the crowd became bearish in July on SPY.
Devalue the dollar enough, you can spark a stock market rally and ignore the purchasing power decreasing.
The divergence is catching eyes between Dow Transports (IYT) and SPY.
With the exception of Healthcare and Semiconductors, everything else seems bent on reflecting overall price action on SPY.
The 200-day moving average and major price level support being tested on SPY here.
How long before all-time highs? SPY has had a massive bounce recently, rallying 17 of the last 20 sessions and traders are wondering how much higher the S&P 500 can go. In this video, I'll provide a detailed technical analysis of SPY, highlighting key resistance levels, the reason for the rally and who's behind it,
The month of May, so far has gone absolutely nowhere, on mind numbing-low volume.
Haven't seen a month that was once down 10%, close less than 2% since the Great Depression.
What was once broken resistance is now acting as support on SPY.
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