π’ $SPY September Setup Keeps Bulls in Control
The broader $SPDR S&P 500 ETF Trust(SPY)$ trend remains bullish, but a short-term pullback is still on the table. π
Price is currently facing heavy resistance around $773β$776, an area that also sits within the short-term institutional sell zone. If buyers fail to push the index to a fresh all-time high over the next month, a 2%β3% correction toward $750 could follow. π»
That would not break the longer-term bullish structure. Instead, a move back toward $750 could simply represent a normal pullback and potentially fill the volume-profile gap.
π― The Levels That Matter
$773β$776 β Key overhead resistance
$750 β Pullback target / volume-profile gap
$800 β Potential year-end upside target π
If $750 holds, the next move could be another attempt toward $800 by year-end.
Looking further out, the broader expectation remains for new all-time highs within the next 90 days. The bigger question is increasingly about timing, not direction.
For now, the strategy is simple: respect the levels, wait for price confirmation, and don't let short-term volatility dictate the trade. ππ§
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