Christian Harris @crh_55: "📈 SPY Presses Into Record..."

United Kingdom

📈 SPY Presses Into Record Territory: Santa‑Rally Momentum Persists The latest daily candle shows SPY closing essentially flat around 690 after setting a marginal new closing high, with price pinned directly against the long‑standing horizontal resistance line now marked near 690. The ETF remains within the rising channel that has contained price since late summer, but is now riding its upper boundary, signalling a strong yet increasingly extended advance where additional upside may come with growing two‑way risk. Moving Averages & Trend Structure Price is trading above the 20‑day, 50‑day and 100‑day simple moving averages, all of which are sloping higher and stacked in bullish order, confirming that short‑ and medium‑term momentum remain firmly positive. The 200‑day moving average is rising well below spot, reinforcing that the dominant long‑term trend is still up, and that any pullback from current levels would, at least initially, be a correction within a broader bull market rather than a confirmed reversal. Support, Resistance & Key Zones The red horizontal line at roughly 690 has now been tested repeatedly from below and effectively represents both immediate resistance and a new record‑close zone. A sustained move and hold above this level would confirm a breakout to fresh highs beyond the existing channel. On the downside, the first area of support sits around 683–685 where recent swing lows and the rising 20‑day average converge, followed by a stronger band near 671–672 at the 50‑day average and prior reaction low, with deeper structural support still anchored around 652 and then 640. Implications For Long‑Term Investors For long‑term investors, the technical picture argues for staying invested: price is making new highs with all major moving averages trending upwards, and there is no sign yet of a decisive breakdown through key supports or a topping pattern. However, given SPY’s position near the upper channel boundary and extended distance above the 200‑day average, some investors may choose to rebalance or trim marginally into strength, planning to redeploy on pullbacks towards the 50‑day or 100‑day averages rather than chase price at resistance. Tactics For Short‑Term Technical Traders Short‑term traders can treat 690 as the key pivot. While daily closes hover just beneath or around this level with no strong follow‑through, fading intraday strength into the 690–692 area with tight stops just above the channel high, and targeting mean‑reversion back towards 683–685 or even the 50‑day line, offers a defined‑risk mean‑reversion setup. Conversely, a convincing push that closes well above 691–692 and holds that level on a subsequent retest would favour breakout‑follow strategies, with protective stops logically placed under the 683–685 zone or, for more conservative swing trades, beneath the 50‑day average around 671. Recent Market News Affecting The S&P 500 In the most recent session, the S&P 500 touched yet another intraday record and finished little changed, extending a week that has already delivered roughly a 1.4 percent gain and left the index up about 18 percent year‑to‑date as the Santa‑rally period continues. Sentiment was supported by resilient economic data and still‑benign inflation readings, which helped keep expectations for only cautious, 'hawkish' Fed rate cuts intact, while ongoing enthusiasm for large technology and AI‑linked stocks kept the broader index hovering just below the symbolic 7,000 level. 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 0.2% above the current share price ✅ The SPDR S&P 500 ETF 52-week low stock price is 481.80, which is 30.2% below the current share price ✅ The average SPDR S&P 500 ETF stock price for the last 52 weeks is 618.91. ⚠️ 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