The Long Investor

$SPY TOP 20

Added 2025-03-26 20:33:34 +0000 UTC

$SPY's first attempt at staying above the 200 Day MA at $574 has not been successful and the price action finished the day at $568, with an all round weak market today, lead by a -5.74% day from $NVDA.

There is no rejection at this level yet and it is worth considering that the 50 Weekly MA is at $565 right now too, which has not been tested or lost, as Vojtech has mentioned today.

So as it stands, the price action is right in the middle of the 50 WMA and the 200 Day MA, this does not tell us the direction next, we need more price action.

Support has neither been held and resistance has not been rejected.

Today was red across the board and this doesn't feel comfortable but any pre-emptive moves right now is not wise.

We will continue to monitor and once we have confirmation, we can act.