Technical Pulse: SPDR S&P 500 ETF Trust August 31, 2022 502


SPDR S&P 500 ETF Trust (NYSEARCA: SPY) A retest of the immediate support at 386.00-393.00 is possible before price edges higher as:   


  1. The ichimoku cloud support and previous neckline resistance turned support provide confluence of supports at 389.80.
  2. The 61.8% Fibonacci retracement level provides support at the 388.74 price level, with the swing high of 431.73 and swing low of 362.17 as points of reference.
  3. Price could reach resistance zone 1 at 403.00-410.00 before heading towards resistance zone 2 at 420.00-430.00 thereafter.



*Expected timeline of the trade is 12 weeks from the date of report issuance.




Red box = Resistance zone

Green box = Support zone

Blue line = Coversion line


Red line = Base line


Green area = Ichimoku cloud

Notify of
Inline Feedbacks
View all comments

About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!