$SPY

SPY is being watched for a potential break of its overarching trend line, with support seen near $730 if it breaks.

“Nobody Is Trading: The Volume Signal Under Today's Selloff”
Verified InvestingPublished Aug 31 · 5 passages
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So, let's start with the S&P and the QQQ today. They're down, right? S&P and Q's are both down, but I want you to pay attention to something.

S&P. We take a look at this, it's about 11 4 million compared to 42 million. So significantly smaller than lower than average volume, right? But for me taking a look at this, what I see is the following.

Well, first off, I see a small ups sloping trend line that we are trying to break here, right? That could mean a broader downturn, you know, maybe about 1%. But that's not really telling me a whole lot.

What I'm really watching, and the trend line that I kind of gave away by turning and tuning into the spy briefly, is watching this overarching trend line. On the S&P, the same trend line is a trend line I'm watching.

I've spoken over the past couple weeks about how the S&P and the Q's have kind of decoupled. S&P, you can see, continuing to try and push up closer to new all-time highs. We'll see what happens first whether we end up breaking up making new all-time highs or breaking down from this ups sloping trend line.

Similar kind of deal here on the spy. Uh let's say if this breaks ultimately looking for support down here around $730.

What this channel has said about $SPY

Verified Investing has 9 calls on this stock; only the adjacent ones are shown.

2026-09-01
All right, let's jump into the S&P 500 first with the SPY on the daily time frame. You can see here guys, what have I been saying was going to happen and what should happen because we talk about this in this show so often. We talk about breakouts and retraces to that trend line from which it broke out from. We clearly see we have a high pivot back here on June 2nd. Today was the day we had price come back in and tag that exact same price point and get support and bounce up off of this range. Now, if you take away everything that's going on in the background, this should be a bounce setup. We have three sharp days moving lower right into an area of support. We should be bouncing up tomorrow and testing the gap fill from trading action yesterday. But with the macro backdrop and with price action already coming so close to this level of support in essence weakening this area, that's reducing probabilities of a potential bounce. But, I would not be surprised to see us up and close positive tomorrow just because of the technicals on the chart. We very well likely will need help in the 10-year yield and US oil department for that bounce to materialize.
Quote at 01:31 ›
2026-08-31This one
So, let's start with the S&P and the QQQ today. They're down, right? S&P and Q's are both down, but I want you to pay attention to something.
2026-08-28Bearish
So, we're starting here with the with the S&P. And today, the S&P is kind of not doing a whole lot, right? We initially looked to open up slightly higher and even pushed up. We're up about half a percent. Look like we're going to tackle those potential all-time highs again. Not quite. Big reversal in the markets.
Quote at 01:03 ›
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