S&P 500 Index (SPY) Monthly 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
SPY remains entrenched in a powerful multi-year secular bull market, underpinned by perfect bullish moving-average alignment and robust monthly momentum above the 70 RSI threshold. While short-term pause or minor consolidation is visible near the upper Bollinger Band around 780–810, the broader structural trend remains firmly intact. Crucial multi-year support rests near the rising 20-month SMA around 680, preserving the overarching upside trajectory for long-term investors.
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SPY Monthly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price remains in a strong upward trend well above the rising 20-month moving average (679.72) and continues to hold near upper Bollinger Band territory despite minor monthly consolidation.
Long-term Sentiment (weeks to months): Bullish
Clear multi-decade secular bull market with stacked, upward-sloping moving averages (20 SMA > 50 SMA > 200 SMA) and sustained RSI above 60 confirming strong regime dominance.
Report Metadata
- Timeframe: monthly
- Generated at: Nov 1, 2026
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $675.00 | $670.00 - $680.00 | Strong | Confluence of the rising 20-month simple moving average and the middle Bollinger Band. |
| $470.00 | $460.00 - $480.00 | Strong | Major secular breakout level representing the 2021-2022 cycle peaks. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $795.00 | $780.00 - $810.00 | Moderate | Current all-time high monthly wick peak aligned with the upper Bollinger Band ceiling. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Secular Base Breakout and Trend Continuation | Bullish | N/A | Multi-year breakout above the 2022 consolidation range followed by sustained higher highs and higher lows riding the upper Bollinger Band envelope. |
Frequently Asked Questions about SPY
What is the current sentiment for SPY?
The short-term sentiment for SPY is currently Bullish because Price remains in a strong upward trend well above the rising 20-month moving average (679.72) and continues to hold near upper Bollinger Band territory despite minor monthly consolidation. 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 $675.00 and $470.00. 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 11/100. 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.