Weekly Market Momentum
SPY Recovery Attempt Begins, But the Bull Flag Still Needs to Form
SPY rebounded sharply last week, invalidated the prior bear flag, and reclaimed the 50SMA and 100SMA. But the daily downtrend is still intact, and a new bull flag has not formed yet. This week’s analysis focuses on the 200SMA, the pullback that may build the next pattern, and the levels bulls must hold.
SPY Bear Flag Still Active as Bulls Test Key Resistance
SPY rebounded from weekly support last week, but the active daily bear flag remains intact. The key level now is 663.09 near the 200SMA, where bulls must reclaim resistance or risk another leg lower back toward 644.72, 636.64, and 629.25.
SPY Bear Flag Continues Toward Key Weekly Support
SPY remains in an active daily bear flag after breaking below 644.72 and reaching its first target at 636.64. With the next target at 626.35 and weekly support just below, this week’s analysis maps the path lower, the key resistance band overhead, and what to watch for if buyers begin forming a base.
SPY Bear Flag Continues as Price Reaches Major Support Zone
SPY continued the active bear flag breakdown this week, losing the 200SMA and weekly fib fan support while hitting both downside swing targets. The next key level is weekly support at 629.25, with buyers still needing to prove themselves before any reversal can be trusted.
