5 key levels of SPY you need to memorize

$SPDR S&P 500 ETF Trust(SPY)$ bounced 15% in 15 days back to $550. The bottom of market was on April 7 at $480.

But, 75 days from now if no tariff deal is made with China, SPY will crash towards $450.

Here's 5 key levels of SPY you need to memorize 🧵

1. Breakaway gap from $545-$555. This level needs to be filled right away to show strength in the market. You can see right now its a big level of selling pressure. It will most likely get filled and head towards 50SMA at $563.

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2. This is a common gap from $526-$534. In the next week or so the market will find a way to close this gap so we are not of the woods yet, there will be chaos as the SPY still is in battle in this range from $480-$550.

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3. 200SMA is at $573 right now. Until we can close above this level we are still in a bear market and institutions are not ready to pull the trigger to go long just yet. There is still a lot of uncertainty as long as we stay under $573.

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4. Downtrend of the bear market. We haven't broke this level becuase there is still too much uncertainty and weakness coming to the economy. If we can break this level then we'd quickly move towards $563 the 50SMA.

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5. This is the 50SMA.The last time we broke under this level was Sept 2023. It took only 3 months to break over it again. Its very possible the SPY will want to break back over this level in May 2025.

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