SPY Levels to Watch

A DSI case in point, SPY is down about $0.07 right now, yet DSI is at 95%. For the time being, no one cares that SPY is overbought.

That said, however, from a channel analysis perspective, let's notice that SPY is bumping up against the upper channel boundary line of its Oct.-Jan. bullish price channel. The 273.80 - 274.20 area is the next zone from where SPY could reach near term upside exhaustion, and thereafter reverse into a correction. To get any initial downside traction, SPY needs to break below 271.40.

1 08 18 SPY 1110 GIF
1 08 18 SPY 1110 GIF
  • 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!