Overview
This section examines the possibility of a pullback in SPY, based on recent price movements and historical trends.
Current Price Stretch Relative to Moving Average
SPY is currently trading approximately 9.5% above its 30-week moving average. This level of extension is notable, as it approaches the threshold observed during previous pullbacks.
Historical Context
Looking back, the last significant instance when SPY was stretched about 10% above its 30-week moving average resulted in a pullback toward the end of March 2024. This comparison provides context for the current market situation.
Observational Note
It is worth noting that a confirmed closing price for the current week has not yet been established. This analysis is not a prediction, but rather an observation intended to increase awareness of market conditions.
This section examines the possibility of a pullback in SPY, based on recent price movements and historical trends.
Current Price Stretch Relative to Moving Average
SPY is currently trading approximately 9.5% above its 30-week moving average. This level of extension is notable, as it approaches the threshold observed during previous pullbacks.
Historical Context
Looking back, the last significant instance when SPY was stretched about 10% above its 30-week moving average resulted in a pullback toward the end of March 2024. This comparison provides context for the current market situation.
Observational Note
It is worth noting that a confirmed closing price for the current week has not yet been established. This analysis is not a prediction, but rather an observation intended to increase awareness of market conditions.
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I am under no obligation to post any action or update to any idea.
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I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.