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Benzinga
76 days

How To Trade SPY, Top Tech Stocks As Private Sector Hiring Slows In May

1. SPY's pivotal price level is 596.57 with breakdown targets. 2. Bullish momentum needed above 598.04 for upward movement. 3. Sustained strength could reach targets at 600.51 and 601.22. 4. Failure to maintain support at 596.57 targets lower levels. 5. Key economic indicators are due from 8:15 AM ET today.

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FAQ

Why Bullish?

SPY is showing bullish patterns if key levels are maintained. Historical data shows similar support levels preceding upward trends.

How important is it?

The analysis focuses on immediate trading tactics for SPY, imperative for traders. New economic data could shift market sentiment quickly.

Why Short Term?

Immediate trading levels suggest a reaction within today’s session. Short-term focus is relevant due to daily trading adjustments.

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