$SPY

Higher interest rates increase the likelihood of a downward move in SPY towards $760.40.

Bearish

“Bloom Energy S&P 500 Addition & Macro Breakouts”

Verified InvestingPublished Sep 8 · 4 passages

01:06/ —Open the source video

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4 passages

First off with the S&P 500 on the SPY daily ETF that we see here, price action came down about 0.55% and really, as you see here with the high pivot, never had an opportunity to go green today.

We didn't gap up, instead we gap down and then sold off for the majority of the day.

Flipping over to the 10-minute chart, you see here we opened up, came down, made an attempt to go up higher, but that was about as high as we were getting after that decline on the S&P 500.

Nasty end of the day sell, a nice wick pulling price back up, but this price action did actually make a near uh term intraday low on the day to close out.

Now, we can see here with the SPDR's move, we kiss gap fill as the near-term support. So, that means if we continue selling, the next area of support to watch is down here at $760.40.

That is the previous all-time high pivot. Into the upside, we'll get jammed up by this declining trend line that you see here at $772.21.

The likelihood, if rates do push higher, is for a move lower on the S&P 500, favoring this level down at $760.40.

Watchpoints

Interest rates pushing higher

What this channel has said about $SPY

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

2026-09-09Bearish

First off, the S&P 500 with the SPY daily ETF. We did come down, as I said, nearly half a percent.

Quote at 01:14 ›

2026-09-08BearishThis one

First off with the S&P 500 on the SPY daily ETF that we see here, price action came down about 0.55% and really, as you see here with the high pivot, never had an opportunity to go green today. We didn't gap up, instead we gap down and then sold off for the majority of the day.

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 ›

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