SPY barely closed positive by 0.02% yesterday. Tech heavy Nasdaq was again strong as the index is well stacked with companaies that have increasing revenue stream from digitization in the coronavirus economy.
ES futures are up 12 handles as of now and are pointing to a higher open for $SPY. It is likely that the 292.93 at 61,6% retrace will be tested and perhaps taken out today. Volatility is getting lower which also supports higher prices.
SPY support is 288-290 and resistance at 293, then 297 and 300. A strong move is imminent as the prices getting squeezed tight.
Going with the flow whichever way it breaks.
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