Neutral SPY Technical Levels and Catalysts

5 days ago

Stocks with Josh

"All right, let's kick things off by first going into the SPY. I want to make a few points there about what I'm watching. This was the last stress test the market went through on the SPY back in July. We had this red bearish week and then a recovery that pushed price back to the top of the range. Now, we're in the beginning of our second week and we're still struggling with the top of this range, which means the market largely is neutral. However, if positive catalysts emerge and the market pushes above 675, we could rip straight away to 680, making brand new all-time highs."

The analyst reviews SPY's technical levels, noting that the market is currently neutral as it consolidates near the top of a key bearish candle from July. He highlights important trigger levels around 671 and 675, suggesting that a breakout above 675 could lead to a bullish move to 680. The commentary emphasizes the need for a catalyst to shift the market's neutral stance.

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