Levels to Watch in SPY's Upside Breakout

My SPY Point & Figure Chart (see attached) printed above (253.00) a multiple prior higher resistance zone at 251.00 to 252.00, which triggers a next immediate upside target of 255.25, and then to 258-260.

At this juncture, only a print of 251.50 will stall the upside breakout, and will initiate a down-column of Red O's, which will indicate that a digestion-correction period is in progress after today's enormous P&F up-column from 246 to 253.

Last is 252.02

1 04 SPY PF Chart G
1 04 SPY PF Chart G

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!