SPY Daily Technical Analysis
S&P 500 Index
SPDR S&P 500 ETF - Tracks the S&P 500 index of the largest U.S. companies and serves as a core benchmark for the U.S. market.
SPY Technical Analysis Summary
The chart shows a strong primary uptrend that is currently undergoing a period of healthy consolidation. While the long-term moving averages (50 and 200 SMAs) confirm a bullish bias, short-term indicators like the bearish MACD crossover and neutral RSI suggest momentum has paused. The price is currently sandwiched between immediate support at the 50-day SMA (~682) and resistance near recent highs (~697).
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SPY Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Neutral
Price is consolidating sideways just below the 20-day SMA (688.84), supported by a flat RSI near 52 and a bearish MACD crossover indicating stalling momentum.
Long-term Sentiment (weeks to months): Bullish
The long-term trend remains strongly upward, with price trading well above the rising 50-day (681.91) and 200-day (636.96) moving averages.
Report Metadata
- Timeframe: daily
- Generated at: 2026-01-23T15:01:14.278Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $681.18 | $680.45 - $681.91 | Strong | Confluence of the 50-day SMA and the lower Bollinger Band. |
| $661.50 | $658.00 - $665.00 | Strong | Previous resistance zone turned support during the November breakout. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $696.12 | $695.00 - $697.23 | Strong | Recent all-time highs and the upper Bollinger Band. |
| $702.50 | $700.00 - $705.00 | Weak | Psychological round number resistance above current highs. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Weak | Bullish Consolidation | Bullish | N/A | Price is moving sideways in a tight range after a strong uptrend, potentially forming a bull flag or rectangle pattern. |
| Strong | Uptrend Channel | Bullish | N/A | A clear sequence of higher highs and higher lows maintained since mid-2024. |
Frequently Asked Questions about SPY
What is the current sentiment for SPY?
The short-term sentiment for SPY is currently Neutral because Price is consolidating sideways just below the 20-day SMA (688.84), supported by a flat RSI near 52 and a bearish MACD crossover indicating stalling momentum.. The long-term trend is classified as Bullish.
What are the key support levels for SPY?
StockDips.AI has identified key support levels for SPY at $681.18 and $661.50. These levels may represent potential accumulation zones where buying interest could emerge.
Is SPY in a significant dip or a Value Dip right now?
SPY has a Value Score of 41/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.