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$SPY Slams Into Key Gap Fill & Trend Line: Take Note Of This

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  • inthemoneystocks's Avatar
    36 posts since Aug '10
    • The S&P 500 is having a solid rally today on light volume. At this very moment the $SPY (the tracking ETF for the S&P 500) is filling a major gap from May 2nd, 2016. In addition, it is tagging a downsloping trend line that starts on April 20th, 2016.

       

      Note the chart below. This should be significant resistance for the markets. Look for a possible pull back off this level.

       

       

       

       

      Gareth Soloway

      InTheMoneyStocks

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