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Benzinga
92 days

How To Trade SPY And Top Tech Stocks Using Technical Analysis

1. SPY trading near pivotal level of 587.31; bullish targets set at 589.71. 2. Holding above 592.00 may push SPY towards 593.73 and then 595.14. 3. Failure to sustain above 587.31 could lead to downward targets around 585.75. 4. Economic data visibility is limited; expect volatility due to credit rating concerns. 5. Traders advised to manage risk and adjust strategies based on market conditions.

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FAQ

Why Bullish?

SPY's potential for upward movement appears strong above key resistance levels, akin to past bullish trends in similar market conditions.

How important is it?

The analysis provides precise data-driven insights on SPY's trading levels that may significantly influence trading decisions today.

Why Short Term?

Immediate market dynamics suggest SPY is likely to move based on today's trading activity as seen historically during high volatility periods.

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