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Benzinga
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Technical Analysis For Trading SPY And Top Tech Stocks, As Market Braces For Fed Rate Decision

1. SPY is near critical level of 561.90; needs upward movement. 2. Sustained buying above 564.29 could lead to a rally to 565.38. 3. Key bearish target for SPY is 557.44 if selling pressure intensifies. 4. Market volatility expected due to Fed's interest rate decision. 5. Geopolitical tensions may also impact broader market movements.

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FAQ

Why Bullish?

The article indicates key support levels for SPY, indicating potential upward momentum. Historical examples show bullish rallies often follow sustained buying above significant price levels.

How important is it?

The article focuses on technical levels where SPY is currently trading, crucial for traders. Elevated volume and market conditions make it relevant despite macroeconomic factors.

Why Short Term?

The anticipated volatility and Fed announcements suggest immediate market reactions. Short-term traders typically react to news, impacting prices quickly.

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