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Benzinga
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How To Trade SPY, Top Tech Stocks As Focus Turns To May New Home Sales

1. SPY is currently trading near a pivotal level of 607.55. 2. Bullish strength above 608.35 could target 609.33 and higher. 3. Bearish pressure below 607.55 targets critical support levels at 606.34. 4. Market reacts to Jerome Powell's testimony influencing volatility today. 5. Economic data releases could affect SPY's performance throughout the day.

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FAQ

Why Bullish?

Current trading around key pivot level suggests SPY may experience upward momentum. Historical trends show bullish patterns after breaks above pivotal levels.

How important is it?

The article provides key price levels affecting SPY and forecasts probable movement directions. This actionable insight enhances trading strategies based on market conditions.

Why Short Term?

Immediate price movements potentially driven by today's economic data and Powell's commentary. Short-term volatility expected from scheduled market events.

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