Christian Harris @crh_55: "📈 SPY Pulls Back From..."

United Kingdom

📈 SPY Pulls Back From Resistance But Trend Structure Stays Intact Yesterday SPY slipped to close around 689.6 after briefly trading above 691, producing a modest red candle that turned down again from the well‑defined resistance band just under 692 and near the upper boundary of the rising channel. The move marks a minor rejection at the highs but leaves price comfortably in the upper half of the multi‑month uptrend, suggesting a routine high‑level pause rather than a decisive reversal. Moving Averages & Trend Structure Price remains above the 20‑day, 50‑day and 100‑day simple moving averages, all of which are upward‑sloping and stacked in bullish order, signalling that the intermediate trend continues to favour the upside despite the latest soft session. The 200‑day moving average down in the high‑620s is also rising, confirming that SPY is still in a strong primary uptrend and that any pullback towards the mid‑660s or 652 would, for now, be a correction within that broader structure. Support, Resistance & Key Zones On the upside, the red horizontal line around 691–692, backed by the slightly higher blue channel roof, remains the key ceiling where multiple rallies have stalled in recent weeks and where yesterday’s advance again failed to hold. Immediate support sits near 684–685 at the rising 20‑day average, with stronger backing around 671–672 at the 50‑day line and recent swing low, followed by the 652 shelf and the major structural base near 640 that has contained all significant pullbacks since August. Implications For Long‑Term Investors For long‑term investors, SPY’s small decline after setting new closing highs earlier in the week looks like a normal consolidation at elevated levels. The index remains only a fraction below record territory and well above all major moving averages. Maintaining core exposure remains technically justified, though given three consecutive years of double‑digit gains and stretched valuations, some may choose to rebalance gradually into strength and plan to add on deeper dips towards the 50‑day or 100‑day averages rather than chase price at resistance. Tactics For Short‑Term Technical Traders Short‑term traders can continue to use the 691–692 area as a tactical pivot: while SPY closes below this band and intraday pushes are rejected, fading strength into that zone with tight stops just above the channel high and targeting mean‑reversion towards 684 or the 671–672 support band offers a defined‑risk setup. A convincing daily close above roughly 692 with immediate follow‑through would instead favour breakout‑following strategies, using the 684 region or, for more conservative swing positions, the 671–672 area as logical reference points for stop placement. Key Market News From The Last Session In the most recent session the S&P 500 fell about 0.3 percent to roughly 6,921, its first loss in four days, as investors took profits after a strong start to the year and reacted nervously to renewed geopolitical tensions and fresh policy proposals from President Trump that pressured defence, homebuilding and major financial stocks. The Nasdaq managed to eke out a small gain, helped by continued strength in selected AI technology names, but broader selling ahead of the psychologically important 7,000 level for the S&P 500 highlighted growing short‑term resistance and helped drive the intraday reversal seen on the SPY chart. Historical Price Data ✅ The all-time high SPDR S&P 500 ETF stock closing price was 691.81 on January 06, 2026 ✅ The SPDR S&P 500 ETF 52-week high stock price is 693.96, which is 0.6% above the current share price ✅ The SPDR S&P 500 ETF 52-week low stock price is 481.80, which is 30.1% below the current share price ✅ The average SPDR S&P 500 ETF stock price for the last 52 weeks is 621.66. ⚠️ Disclaimer: This is not financial advice. Trading carries risk. This information is for educational purposes only. 💚 Happy & Safe Investing $SPY (State Street SPDR S&P 500 ETF) / $QQQ (Invesco QQQ) / $DIA.US (SPDR Dow Jones Industrial Average ETF Trust ) / $IWM (Ishares Russell 2000 ETF) / $SPX500 / $NSDQ100 / $DJ30 / $RTY