SPY Weekly 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 in a dominant, long-term weekly uptrend, characterized by price action well above rising 50-week and 200-week moving averages. While a recent bearish MACD crossover suggests a potential slowing of near-term momentum or a period of consolidation, the overarching structural trend remains firmly bullish. Long-term investors should watch the 50-week SMA as a key barometer for continued trend health.
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SPY Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price remains in a steady sequence of higher highs and higher lows, holding above the rising 20-week SMA. While MACD shows a bearish crossover indicating slowing momentum, price structure has not broken down.
Long-term Sentiment (weeks to months): Bullish
The chart displays a robust, multi-year uptrend. Price is trading significantly above both the 50-week and 200-week SMAs, which are sloping upwards, confirming sustained long-term buying pressure.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-21T18:01:55.008Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $677.50 | $670.00 - $685.00 | Weak | Immediate support zone aligned with the rising 20-week SMA and recent minor swing lows. |
| $640.00 | $630.00 - $650.00 | Strong | Major structural support zone converging with the 50-week SMA and a significant prior period of consolidation. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $697.50 | $690.00 - $705.00 | Weak | Current all-time high territory and the psychological 700 level. Lacks historical touches to be considered strong. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Long-term Ascending Trend | Bullish | N/A | A sustained, multi-year sequence of higher highs and higher lows consistently riding above key moving averages. |
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 steady sequence of higher highs and higher lows, holding above the rising 20-week SMA. While MACD shows a bearish crossover indicating slowing momentum, price structure has not broken down.. 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 $677.50 and $640.00. 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 79/100. It is currently flagged as a significant dip in the Top Dips list. It is also listed as a Value Dip because long-term sentiment is bullish.
View the full interactive analysis on StockDips.AI.