SPDR S&P 500 ETF Trust (SPY)
is pressing into all-time high resistance within a robust weekly uptrend. Trading at $774.83 (Post-market: $775.28 at time of posting), price action is consolidating just below its local high of $779.37 inside a defined overhead Resistance Block. A weekly close above $779.37 clears the overhead supply and signals a continuation of the primary bull trend. If price rejects at this key barrier, immediate downside support rests at the upper Point of Control (POC) at $765.69, followed by internal support at $756.00 along the weekly current trendline.
Bullish Scenario
(Breakout Expansion): Hold above $765.69 $ ightarrow$ Break through $779.37 Resistance Block ➡️ Price discovery into new all-time highs.
Bearish / Pullback Scenario
(Support Retest): Rejection at $779.37 ➡️ Retest $765.69 (Upper POC) ➡️ Secondary dip toward $756.00 (Internal Support) to retest the weekly current support line.
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Not financial Advice.
is pressing into all-time high resistance within a robust weekly uptrend. Trading at $774.83 (Post-market: $775.28 at time of posting), price action is consolidating just below its local high of $779....