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SPY pattern could strengthen above $762, Scott Redler notes

SPY pattern could strengthen above $762, Scott Redler notes
SPY must hold above $762 for pattern

Scott Redler, Scott Redler, said SPY made a significant upward move and gap in the previous session. He added that whether SPY can maintain levels above $762 may determine if it can form a stronger setup to clear $769 and then $774 toward new all-time highs over the coming days and weeks.

Redler described current trading action as highly stock specific and sector specific, particularly in the period following the election.

Redler recently pointed out that the S&P 500 held the 764 level and was set to test resistance at 772 in a previous update here. He has also focused on key earnings from companies such as TSLA, NFLX, and META during a busy reporting period earlier this month. These observations provide further context to his ongoing analysis of sector and stock moves.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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