| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The S&P 500 has been appreciating in an ascending channel pattern since the beginning of June. The pair reached the $300 mark during last week's trading sessions.
Currently, the SPY.US/USD pair is trading near a resistance level formed by the weekly R1 at 301.92.
Everything being equal, it is likely that the pair could edge lower within this week's sessions. The possible target for the pair would be near a support level at 294.63.
On the other hand, if the pair breaks the weekly R1 at 301.92, a surge towards the weekly R2 at 310.72 could be expected in the nearest future.