SPY Is Digesting Under 776 - Trend Line Holds.
The uptrend is consolidating. SPY has spent the session digesting under the 776.81 high, trading 770, holding well above the 765 trend line that has defined the move. The surface is split - the hourly reads a strong bullish thesis while the 4H cooled to bottom-quartile - which is typical of a market catching its breath after new highs. An NR7 is compressing here too, so a move is loading. The trend is intact as long as 765 holds. Neutral.
Resistance: 776.81 - the high
Key resistance: 778.00 - open air above
Current price: 770.68
Support: 765.71 - the trend line
Key support: 759.67 - the prior high
Structural floor: 753.22 - deeper support
Two paths from here:
It holds 765 and breaks 776.81. Consolidating above the trend line without giving it back keeps the path higher. A break of 776.81 with the NR7 resolving up opens 778 and clean air. The trend structure is intact.
The NR7 resolves down into a backfill. Compression plus a cooled 4H surface at the highs can break the other way. A loss of 765.71 would signal the run needs a deeper rest toward 759. The NR7 says the move is close either way.
SPY is digesting under its high with the trend line holding and an NR7 winding tight - a move is coming soon. Above 765 the trend continues; a break of 765 signals the backfill. The compression will resolve it.
Built with SYNTHESIS v3.3 | SOM / ACE / IMP / SYNTHESIS
Study, not financial advice.
The uptrend is consolidating. SPY has spent the session digesting under the 776.81 high, trading 770, holding well above the 765 trend line that has defined the move. The surface is split - the hourly reads a strong bullish thesis while the 4H cooled to bottom-quartile - which is typical of a market catching its breath after new highs. An NR7 is compressing here too, so a move is loading. The trend is intact as long as 765 holds. Neutral.
Resistance: 776.81 - the high
Key resistance: 778.00 - open air above
Current price: 770.68
Support: 765.71 - the trend line
Key support: 759.67 - the prior high
Structural floor: 753.22 - deeper support
Two paths from here:
It holds 765 and breaks 776.81. Consolidating above the trend line without giving it back keeps the path higher. A break of 776.81 with the NR7 resolving up opens 778 and clean air. The trend structure is intact.
The NR7 resolves down into a backfill. Compression plus a cooled 4H surface at the highs can break the other way. A loss of 765.71 would signal the run needs a deeper rest toward 759. The NR7 says the move is close either way.
SPY is digesting under its high with the trend line holding and an NR7 winding tight - a move is coming soon. Above 765 the trend continues; a break of 765 signals the backfill. The compression will resolve it.
Built with SYNTHESIS v3.3 | SOM / ACE / IMP / SYNTHESIS
Study, not financial advice.
Nota
Morning Update: Held 765, pressing 776.81 again.SPY tagged 776.85 and is trading 773, holding just under the high with the 765 trend line intact. The uptrend held and the high is being tested, but there is no clean break above 776.81 yet. Digesting at the highs with euphoria building. 776.81 is the level that opens 778; 765 is still the line that keeps the trend.
Study, not financial advice.
Mapping macro structure, custom indicators, and radial geometry.
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📊 View my published scripts: tradingview.com/u/virDeStratera/
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Mapping macro structure, custom indicators, and radial geometry.
📊 View my published scripts: tradingview.com/u/virDeStratera/
📊 View my published scripts: tradingview.com/u/virDeStratera/
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.