Apr 14, 01:27 PM

SPY Rises 1.5% Pre-Market, Above Death Cross; SPX Faces 5,500 Test Amid 7.5% YTD Decline

The SPDR S&P 500 ETF Trust (SPY) saw a pre-market increase of 1.5%, helping it remain above the 'Death Cross' threshold, where the 50-day moving average falls below the 200-day moving average. Despite this uptick, the ETF is still down approximately 7.5% year-to-date (YTD) but has gained 5.5% since the beginning of the year. Market analysts are closely monitoring the S&P 500 index (SPX), which is facing a critical test around the 5,500 level. The SPY is currently about 13% off a key Fibonacci level that has previously served as support. Analysts note that a tactical battleground is forming around the $550 mark for SPY, with additional support identified in the $460 to $480 range.

#Death Cross #Fibonacci

Written with ChatGPT (GPT-4o mini).

Sources

Larry Thompson, CMT CPA@HostileCharts
2 years ago
$SPY - Confluence of Support around $460-480. https://t.co/P7A5UHwSwD
Larry Thompson, CMT CPA@HostileCharts
2 years ago
$SPY - Tactically...$550 will be where a fight begins..IMO. https://t.co/3IW2kRxOHP
Joe Kunkle@OptionsHawk
2 years ago
$SPY now about 13% off that 61.8% Fibonacci level that held as support for those three days straight despite a volatile tape and was also a key long-term trend support and retest of that 2022 high as well as nearly completing a 50% retrace of the 2022/2024 range, and rising https://t.co/H3yQn5vhQq

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SPY Rises 1.5% Pre-Market, Above Death Cross; SPX Faces 5,500 Test Amid 7.5% YTD Decline

Sources

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