$SPY (State Street SPDR S&P 500 ETF Trust) is showing a short-term bearish reversal on the 1-minute chart, trading at $776.114 (+0.28%) after failing to sustain its intraday high.
Trend & Moving Averages
• Short-Term Trend: Bearish. The price has clearly broken below the key short-term moving averages.
• MA Crossovers: The yellow MA(7) at 776.37 has crossed cleanly below the pink MA(25) at 776.41, generating a classic bearish moving average crossover signal.
• Dynamic Resistance: Both the MA(7) and MA(25) have now rolled over and are serving as immediate overhead resistance, pushing the price lower toward the long-term purple MA(99) at 776.62 boundary zone.
Key Price Levels
• Local Resistance: $776.90. The bulls attempted to push higher during the 18:10 ET window but encountered heavy selling pressure, forming a minor double-top structure.
• Immediate Support: $775.88. This represents the local low established around the 18:29 ET mark. A breach below this floor will likely accelerate selling pressure.
Volume Analysis
• Selling Pressure: The largest volume spike on this window occurred on a massive red candle around 18:29, highlighting institutional/heavy retail distribution at higher levels.
• Follow-through: The current closing candle is small-bodied but deeply red, closing near its absolute lows at $776.11, indicating that the bears maintain total control of the immediate order flow.
Tactical Outlook
The immediate bias remains short-term bearish. Expect a retest of the $775.88 support floor. Bulls should wait for a structural change—such as a clean break back above the MA(25) ($776.41)—before looking for long entries.
Trend & Moving Averages
• Short-Term Trend: Bearish. The price has clearly broken below the key short-term moving averages.
• MA Crossovers: The yellow MA(7) at 776.37 has crossed cleanly below the pink MA(25) at 776.41, generating a classic bearish moving average crossover signal.
• Dynamic Resistance: Both the MA(7) and MA(25) have now rolled over and are serving as immediate overhead resistance, pushing the price lower toward the long-term purple MA(99) at 776.62 boundary zone.
Key Price Levels
• Local Resistance: $776.90. The bulls attempted to push higher during the 18:10 ET window but encountered heavy selling pressure, forming a minor double-top structure.
• Immediate Support: $775.88. This represents the local low established around the 18:29 ET mark. A breach below this floor will likely accelerate selling pressure.
Volume Analysis
• Selling Pressure: The largest volume spike on this window occurred on a massive red candle around 18:29, highlighting institutional/heavy retail distribution at higher levels.
• Follow-through: The current closing candle is small-bodied but deeply red, closing near its absolute lows at $776.11, indicating that the bears maintain total control of the immediate order flow.
Tactical Outlook
The immediate bias remains short-term bearish. Expect a retest of the $775.88 support floor. Bulls should wait for a structural change—such as a clean break back above the MA(25) ($776.41)—before looking for long entries.