SPY Formation

SPY has found resistance of 134 nearly to the penny three times within the last two weeks and once again on 2/16.

I don’t use technical analysis often but the support/resistance levels, the spinning top reversal candle, and large capitulation last Monday are interesting considering how the broad market has timed this move with the kickoff to earnings season. Good levels when thinking about risk/reward.

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SPY Capitulation/Accumulation

Capitulation/Accumulation On Volume:

SPY 2.5 Month Support: