Christian Harris @crh_55: "📈 SPY Grinds Higher But..."

United Kingdom

📈 SPY Grinds Higher But Still Capped Under Channel Resistance Yesterday SPY closed around 687.7, up slightly on the day and continuing the slow rebound from the early‑January dip while remaining just beneath the long‑standing 690 resistance band and upper channel line. The price action keeps SPY in the upper half of its multi‑month rising channel, suggesting a steady but mature uptrend where buyers are still in control but struggling to force a clean breakout to new highs. Moving Averages & Trend Structure Price is trading above the 20‑day, 50‑day and 100‑day simple moving averages, all of which are upward‑sloping and stacked in bullish order, confirming that the intermediate trend remains positive despite the recent sideways drift. The 200‑day moving average down near the low‑620s is also rising, so the primary long‑term trend for SPY remains firmly up, with any pullback towards the mid‑660s or 652 likely to be treated as corrective rather than as the start of a bear phase unless those levels decisively fail. Support, Resistance & Key Zones Immediate resistance is defined by the red horizontal line around 690 together with the slightly higher blue channel boundary, an area that has repeatedly capped rallies since early December and again last week. On the downside, the nearest support sits around 667–670 where the latest swing low and the 50‑day moving average converge, with a stronger cushion at 652 and a major structural shelf around 640 that has contained all significant pullbacks since August. Implications For Long‑Term Investors For long‑term investors, SPY’s position near all‑time highs and well above its 200‑day moving average still favours staying invested, particularly given that the index has just logged a third straight year of double‑digit gains driven by large US companies and AI‑linked growth stocks. However, the repeated stalling under 690 and the extended distance above long‑term averages make it reasonable to phase in new capital on dips towards the 50‑day or 100‑day averages rather than chase price at resistance, using a clean break below roughly 640 as a more serious trigger to reassess risk. Tactics For Short‑Term Technical Traders Short‑term technical traders can continue to treat 690 as the tactical pivot. While closes remain below this band, fading intraday strength into the 688–692 area with tight stops above the channel high and targeting mean‑reversion towards the 675–670 region offers a defined‑risk range‑trading approach. A decisive daily close above about 691–692, backed by follow‑through, would instead favour breakout‑following strategies, with the 683 area or, more conservatively, the 667–670 support band providing logical reference points for stop placement. Key Market News From The Last Session In the latest session the S&P 500 rose roughly 0.6–0.7 percent to a new closing high around 6,902, helped by strong gains in energy and financial stocks as oil prices jumped after a US operation in Venezuela and banks rallied on expectations of solid earnings and dividend growth. The advance extended the early‑January rebound that followed a year‑end pullback, with investors showing renewed appetite for risk as the index pushes back towards the psychologically important 6,900–7,000 zone while the Federal Reserve maintains a cautiously supportive stance after 2025’s rate cuts. 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 0.6% 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 620.84. ⚠️ 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