$SPY

SPY is under short-term technical pressure but poised for a potential bounce at support near $749.

He framed it in days

“Yield Surge Puts Markets Under Pressure Ahead of FOMC Decision”

Verified InvestingPublished Sep 15 · 2 passages

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We got the spiders down 46%. Not a big tremendous fall, but still pushing down on the charts. You notice today we did close underneath this previous all-time high pivot. This level illustrated by a horizontal trend line on your charts has been the area of support for the most recent declines that we saw starting this month in September.

Now, we've breached it most recently September 10th. We breached it again yesterday, but did our best to fight and get above it to close. Now, today couldn't hold on. Had to push down lower.

What happens tomorrow is significant because if we close underneath this red candle that increases probabilities of this break remaining active and staying intact pushing us down to the next level of support which would come into contact with a three pivot on or three hit inclining trend line meaning that this next hit likely is due to provide a near-term bounce if not pause the selling pressure in the near term.

That key level of support is down here near $749 on that inclining trend line. As you can see, that's dynamic. So, it increases as it goes up on the charts uh as we push forward through time.

So, I'll be watching that inclining trend line very closely for near-term bounce potentials on the S&P 500. Now, if we start floating up, this clearly to the top end is another declining trend line that will be holding down price in the very near term, too.

Watchpoints

price action relative to the $749 inclining trend line support

What this channel has said about $SPY

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2026-09-15This one

We got the spiders down 46%. Not a big tremendous fall, but still pushing down on the charts. You notice today we did close underneath this previous all-time high pivot. This level illustrated by a horizontal trend line on your charts has been the area of support for the most recent declines that we saw starting this month in September. Now, we've breached it most recently September 10th. We breached it again yesterday, but did our best to fight and get above it to close. Now, today couldn't hold on. Had to push down lower.

2026-09-14

So, let's jump right into it, guys, with the S&P 500 first on the daily time frame. You can see here today we were closing very nicely underneath the previous all-time highs. Now, we did that as you see here back on Thursday. Friday gave us a little bit of a relief, pushed us right back above this previous all-time high pivot, but then today we actually closed back above it. And mainly, you can see here the last 10-minute candle helped push price back closer to that trend line. But when we did open up underneath that trend line today, you could see we pushed up, made a few different 10-minute candle attempts to break that trend line, got rejected, and then ultimately pushed through with lighter volume towards the middle of the day than since rolled right back over. Didn't come all the way back down to that trend line. But most thing is important, it closed back above it, much like it did yesterday. So right now with this dip and last week's dip, it in essence is xed off the chart and we start again tomorrow with this key level, this line in the sand. Basically this trend line at $76040 is the near-term support for the S&P 500. I'm remind you we've hit it here, breached it here, and are hitting it several times today. So this is weakening this level of support, but nonetheless, near-term that is the level of support. Next level beyond that is going to be right around 755 the top end range of these pivots back here from July on the S&P 500.

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