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 bull trend, supported by an intact bullish alignment of the 20, 50, and 200-week moving averages. Following a vigorous advance toward record territory near 790, price is undergoing an orderly consolidation above its 20-week SMA with RSI sustaining a healthy momentum level of 62.24. As long as weekly closes maintain support above the 750–758 zone, the broader structural bias remains strongly pointed toward an eventual test and continuation through the 800 psychological milestone.
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SPY Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price is consolidating constructively near all-time highs while holding comfortably above the rising 20-week SMA (755.40) and RSI remains positive at 62.24.
Long-term Sentiment (weeks to months): Bullish
Clear multi-year uptrend structure with ascending 20-, 50-, and 200-week moving averages forming a bullish stack alongside a consistent sequence of higher highs and higher lows.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-10-02T21:01:41.875Z
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $754.00 | $750.00 - $758.00 | Moderate | Confluence of the rising 20-week SMA (755.40) and recent weekly pullback lows. |
| $707.50 | $700.00 - $715.00 | Strong | Key psychological level aligned with the rising 50-week SMA (713.26) and prior breakout zone. |
| $650.00 | $640.00 - $660.00 | Strong | Major swing low established during the previous significant market correction. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $789.00 | $783.00 - $795.00 | Strong | Upper Bollinger Band (783.07) and the recent weekly all-time high wick peak. |
| $805.00 | $800.00 - $810.00 | Moderate | Major psychological round-number resistance zone and potential overhead expansion target. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Moderate | High-Level Consolidation | Bullish | $800.00 | Multi-week tight consolidation range just below the all-time high, allowing moving averages to catch up without significant price degradation. |
| Strong | Ascending Trend | Bullish | N/A | Prolonged multi-year weekly bull trend supported by dynamic moving-average demand. |
Frequently Asked Questions about SPY
What is the current sentiment for SPY?
The short-term sentiment for SPY is currently Bullish because Price is consolidating constructively near all-time highs while holding comfortably above the rising 20-week SMA (755.40) and RSI remains positive at 62.24.. 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 $754.00 and $707.50. 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 48/100. 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.