Support and Resistance Moving Averages SPDR S&P 500 ETF (SPY) market analysis Technical Analysis avwap vwapmultitimeframe vwappivot

supportandresistance movingaverage spy market analysis technicalanalysis avwap vwapmultitimeframe vwappivot

SPY sellers have been in control since March 29, and today finally hammered the SPY down below a significant support daily chart support level - finding support at the AVWAP drawn off of the March 15th Fed rate hike. I believe the support level that was gapped below today will be tested as resistance in the near future. If it fails off of that support level, I'd expect the SPY to go down and test support at the AVWAP drawn off of the beginning 2021.