1. SPY bulls must hold 563.23 to aim for 564.29. 2. If 563.23 breaks, SPY could fall to 561.90. 3. Key market event: FOMC Interest Rate Decision at 2 PM ET. 4. Volatility expected post-rate decision could create trading opportunities. 5. Bulls aim for targets up to 567.81 with sustained strength.
The recommendation for bullish action around critical support indicates significant positive sentiment. Historical patterns show similar setups often lead to upward movement, especially before major news.
The focus on critical price levels and market sentiment indicates a notable likelihood of SPY's price movement due to trader reactions.
The upcoming FOMC decision is expected to create immediate market reactions, impacting SPY short-term trading dynamics.