Christian Harris @crh_55: "📈 SPY Grinds Sideways..."

United Kingdom

📈 SPY Grinds Sideways Just Under Resistance Yesterday SPY slipped fractionally to close near 687, leaving another small-bodied candle sitting just beneath the established resistance band around 690 and within the upper half of its four‑month rising channel. The sequence of marginal lower closes over the last few sessions, without any meaningful breakdown, points to a slow loss of upside momentum rather than an outright reversal, with the ETF effectively marking time into year‑end. Moving Averages & Trend Structure Price remains above the 20‑day, 50‑day and 100‑day simple moving averages, all of which retain a modest upward slope, so the intermediate trend is still technically bullish despite the recent stalling. The 200‑day moving average continues to trend higher well below current price, confirming that the dominant long‑term backdrop remains an uptrend, and that any near‑term pullback from here would initially be a correction within that structure rather than a confirmed change of regime. Support, Resistance & Key Zones The horizontal resistance line around 690, reinforced by the slightly higher upper channel boundary, continues to act as a clear ceiling where multiple rally attempts have failed, making this the key breakout trigger level for both investors and traders. On the downside, initial support sits in the 683–685 area where the 20‑day moving average and short‑term swing lows converge, followed by more robust backing near 671 at the 50‑day average and the previous reaction trough, with deeper structural support still anchored at 652 and then 640. Implications For Long‑Term Investors For long‑term investors, SPY’s position near all‑time highs with all major moving averages trending upwards still argues for staying invested, as there is no decisive break of key support or evidence of a classic topping pattern. That said, the repeated inability to clear 690 together with the extended distance above the 200‑day average means some may opt to trim or rebalance marginally into strength, waiting to add on more attractive pullbacks towards the 50‑day or 100‑day averages rather than committing fresh capital at resistance. Tactics For Short‑Term Technical Traders Short‑term traders can continue to treat 690 as the tactical pivot: while daily closes remain beneath this band and intraday probes fail to hold, fading strength into the 689–692 zone with tight stops just above the channel high and targeting mean‑reversion back towards 683 or even the 50‑day average offers a defined‑risk approach. A strong daily close above roughly 691–692 backed by immediate follow‑through would instead favour breakout‑following strategies, using the 683–685 region or, for swing traders, the 671 area as logical reference points for protective stops. Key Market News From The Last Session In the latest session the S&P 500 dipped about 0.3 percent, extending its post‑Christmas losing streak to a third straight day as the much‑anticipated Santa‑rally period continued to underwhelm and investors locked in profits from 2025’s strong gains. Selling pressure was concentrated in large technology and AI‑linked names, while broader risk appetite was constrained by concerns that high valuations and uncertainty around how far the Federal Reserve’s 2026 easing cycle will go could keep the index range‑bound after a roughly 17 percent advance for the year. Historical Price Data ✅ The all-time high SPDR S&P 500 ETF stock closing price was 690.38 on December 24, 2025 ✅ The SPDR S&P 500 ETF 52-week high stock price is 691.66, which is 0.7% above the current share price ✅ The SPDR S&P 500 ETF 52-week low stock price is 481.80, which is 29.9% below the current share price ✅ The average SPDR S&P 500 ETF stock price for the last 52 weeks is 619.71. ⚠️ 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