SPY Weekly Technical Analysis
S&P 500 Index
SPDR S&P 500 ETF - Tracks the S&P 500 index of the largest U.S. companies and serves as a core benchmark for the U.S. market.
SPY Technical Analysis Summary
SPY exhibits a dominating long-term uptrend, trading significantly above its key moving averages (50 and 200 SMAs) with no signs of structural breakdown. Short-term action is characterized by consolidation just below the psychological 700 level and the upper Bollinger Band, while the MACD bearish crossover suggests a temporary pause in momentum. The RSI remains in bullish territory, implying the trend is healthy as long as price holds above the 20-week SMA support near 677. A breakout above 701 would likely signal trend continuation.
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SPY Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price is consolidating near all-time highs and holding above the 20-week SMA, with RSI at 63.47 indicating healthy momentum despite a cooling MACD.
Long-term Sentiment (weeks to months): Bullish
The chart shows a robust multi-year uptrend with price action well above the rising 50-week and 200-week SMAs.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-01-31T23:24:57.010Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $673.63 | $670.00 - $677.26 | Strong | Confluence of recent swing lows and the 20-week SMA (Bollinger Band basis). |
| $627.50 | $625.00 - $630.00 | Strong | Major trend support aligned with the rising 50-week SMA (currently 628.48). |
| $507.50 | $505.00 - $510.00 | Strong | Long-term structural floor at the 200-week SMA. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $699.51 | $697.84 - $701.17 | Strong | Current all-time high zone extending to the upper Bollinger Band. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Bullish Trend Channel | Bullish | N/A | Price has adhered to a consistent upward channel since late 2023, creating a series of higher highs and higher lows. |
| Weak | High-Level Consolidation | Neutral | N/A | Sideways movement in recent weeks near the 700 level, digesting gains while remaining above the middle Bollinger Band. |
Frequently Asked Questions about SPY
What is the current sentiment for SPY?
The short-term sentiment for SPY is currently Bullish because Price is consolidating near all-time highs and holding above the 20-week SMA, with RSI at 63.47 indicating healthy momentum despite a cooling MACD.. The long-term trend is classified as Bullish.
What are the key support levels for SPY?
StockDips.AI has identified key support levels for SPY at $673.63 and $627.50. These levels may represent potential accumulation zones where buying interest could emerge.
Is SPY in a significant dip or a Value Dip right now?
SPY has a Value Score of 179/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.