$SPY

Bullish on SPY into next week provided it holds above 7570; a break below leads to neutral/gray area and potential drop to 7000.

BullishHe framed it in weeks

“Yields Reverse Early Fall, 5% Nears With Fed Hike Locked, Oil Drops As Markets Rally”

Verified InvestingPublished Sep 11 · 2 passages

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The S&P had a good day today.

I said I was bullish on the S&P. That worked out beautifully today. We'll have to see how things go. So, let's jump into the charts. The S&P 500 was up 86%. So, just shy of 1% on the day.

Remember, if you've been following along in my daily live game plans at 9:00 a.m. Monday through Friday, we talked about how as long as we hold this level on the S&P, the bullish bias remains.

Sure enough, today a good gap up and it held most of its gains today. And again, I would remain bullish into next week. Even if yields hit 5%, I would remain bullish as long as the S&P does not close below 7570 or so on that chart on the chart right in front of you.

Now, if we do break below that, this is the neutral zone. This is where it's going to be more of a gray area. Does the market break out or does it recapture the bullish stature?

We'll have to watch and see. But ultimately, if we get below 7,400, I think you break there. You know where you go? Straight down 400 points to this technical level on the S&P at 7,000.

Watchpoints

daily closing price relative to 7570

What this channel has said about $SPY

Verified Investing has 17 calls on this stock; only the adjacent ones are shown.

2026-09-14

So, let's jump right into it, guys, with the S&P 500 first on the daily time frame. You can see here today we were closing very nicely underneath the previous all-time highs. Now, we did that as you see here back on Thursday. Friday gave us a little bit of a relief, pushed us right back above this previous all-time high pivot, but then today we actually closed back above it. And mainly, you can see here the last 10-minute candle helped push price back closer to that trend line. But when we did open up underneath that trend line today, you could see we pushed up, made a few different 10-minute candle attempts to break that trend line, got rejected, and then ultimately pushed through with lighter volume towards the middle of the day than since rolled right back over. Didn't come all the way back down to that trend line. But most thing is important, it closed back above it, much like it did yesterday. So right now with this dip and last week's dip, it in essence is xed off the chart and we start again tomorrow with this key level, this line in the sand. Basically this trend line at $76040 is the near-term support for the S&P 500. I'm remind you we've hit it here, breached it here, and are hitting it several times today. So this is weakening this level of support, but nonetheless, near-term that is the level of support. Next level beyond that is going to be right around 755 the top end range of these pivots back here from July on the S&P 500.

Quote at 01:11 ›

2026-09-11BullishThis one

The S&P had a good day today.

2026-09-11

Let's start with the S&P. Now, the S&P is currently up about 1%, filling the gap created from Tuesday's price action.

Quote at 00:49 ›

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