As of May 22, 2026, SPY (SPDR S&P 500 ETF) is in a uptrend state on the daily chart, with a confidence level of 74%. Key support is at $730 and key resistance at $750. Strong HH/HL rebound from the ~$630 swing low with price pushing to new highs near $745; RSI elevated (~69) and price extended above rising EMA50/EMA100.
Bullish continuation: brief digestion/pullback holds above the prior breakout zone, then pushes through the $750 area to a new leg up (Elliott: wave (5) extension attempt after a sharp wave (4) washout in March).
Bearish pullback: failure at/near $750 followed by mean reversion toward the rising EMA50/EMA100 cluster; still a pullback within the broader uptrend unless $695 breaks (Fib: a typical retrace toward ~38.2% of the March->May rally aligns roughly with the low-$700s).
Hold above $730 on 2+ daily closes (supporting continued trend continuation).
Daily close below $710 (EMA50) would signal a trend break into a deeper pullback.
Start on pullback to prior breakout/RSI reset near ~$730; add at EMA50 (~$710); heavy add near EMA100 (~$696) where trend support confluences (only if price stabilizes).
Trim into strength as price gets increasingly extended above EMA50/EMA100 and psychological round-number overheads; larger trims/close reserved for a multi-quarter/multi-year overshoot beyond trend support.
As of May 22, 2026, SPY (SPDR S&P 500 ETF) is in a uptrend state on the daily chart with 74% confidence. Strong HH/HL rebound from the ~$630 swing low with price pushing to new highs near $745; RSI elevated (~69) and price extended above rising EMA50/EMA100.
On the daily timeframe, SPY has key support at $730 and key resistance at $750. The most likely scenario (bullish) targets $750 and $770, with a revert level at $732.
SPY (SPDR S&P 500 ETF) is currently classified as uptrend on the daily chart, with 74% confidence. Confirmation requires: Hold above $730 on 2+ daily closes (supporting continued trend continuation). This would be invalidated by: Daily close below $710 (EMA50) would signal a trend break into a deeper pullback.
The most likely scenario (bullish) targets $750 and $770, with a revert level at $732. The alternative scenario (bearish) targets $710 and $696.
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