🔍 Daily Analysis – Week of August 18, 2025

On the daily timeframe, things are getting more interesting.

SPY built out a new support zone that ties directly into the uptrend line. As long as this area holds, we’re looking for continuation higher, specifically a break above the new resistance zone near 646.19, which would open the door to the next fib target at 647.53.

However, if bulls can’t muster fresh momentum from this support zone, we should expect a test of the 50SMA and some broader consolidation before the trend resumes.

Key developments:

• The 50, 100, and 200 SMA alignment is finally returning to a healthy 50 > 100 > 200 stance.

• That structural alignment, combined with the ongoing uptrend, strongly suggests we’re setting up for new 52-week highs if support continues to hold.

• RSI and MFI have cooled off just enough to allow for more upside without immediate exhaustion risk.

Takeaway: This is a “wait and see” week. Watch how SPY behaves at support. If bulls step in, we could be off to new highs quickly. If not, the 50SMA test becomes likely before the next leg up.