How Benzinga’s view on $SPY changed

Channel profile →This channel has 5 credited speakers: Counterpoint Research, Lion, Third party cited in the quote, Tim Melvin / Lawrence Chang, Timothy Horan (Oppenheimer)2 entries

2026-09-11

“Can A Hot CPI Force a Fed Rate Hike? | PreMarket Playbook | September 11, 2026”

SPY is consolidating sideways; holding support suggests upside to new highs, while breaking support or rising yields signals downside.

All right, let's do it. Let's take a look at our SPY chart. Now, we've talked a lot about the sideways formation or the sideways trading. We did come back into the bottom of the range.

I know we dipped beneath that 760, but today, at least with the gap up here, it sure looks like we're going to recapture that today. So, number one, the key is going to be, can we actually close above 75857?

It's great that we're trading above that now. Uh, it's great that we're peing above that, but really we want to close above that. We also have our sights set on the 20-day moving average, which we've really kind of been oscillating around, sometimes kind of trading above, sometimes using it as resistance and trading a little bit below it.

But that is on deck here today. 76677 should be upside resistance if we trade up towards that level. If we can uh close above that, that would be excellent. If I back the chart out a little bit here to encompass um maybe the entire summer about since what the end of or beginning of April here.

Um you can see that our volume point of control is still down here at 740. So I'd love to trade a little bit higher. I'd love to maybe break out to a new all-time high. But if we're just not ready to do that yet and we do end up coming back in, it's also worth keeping 740 on your radar.

Not for today, but for another possible bounce spot in the future if we do in fact trade lower.

Watch the source12:52

2026-08-31Bearish

“$SPY, $QQQ Slide as US-Iran Tensions Flare | PreMarket Playbook | August 31, 2026”

SPY is bearish; repeated rejection at VWAP and trading below the 20-day SMA indicate weakness.

All right, let's take a look at the spy chart. Let's see where we are and where we might be going here this week. Remember, we just talked to you about several key earnings reports coming this week.

Some from the AI uh sector, some from the cyber security sector. I think that's really headlined by Palo Alto as discussed and then also Broadcom. uh you could throw in there. Now, last week for pretty much the entire week, we spent it riding the 20-day and we find oursel near that again here today.

We are technically beneath it right now ahead of uh Monday's open. So, for me, a key level here is definitely going to be 76971. It's only 20 cents away from where we're currently at.

You want to call it 770, that would make sense, too. I would imagine that would also uh be a key level here. But um the formation that we are making on the daily chart here less than ideal for the bulls.

We did trade up on Friday towards the previous all-time high level of 77685. We did not quite test it, but then we pulled back in and held the 20. That sets up today where we're beneath the 20.

Can we close above or beneath that? We'll see. That should determine the direction. Now, the thing is is if we do close beneath it, and then we looks like we're going to move lower.

We actually have a lower high on the daily from uh August 14th or August 13th, which is where the all-time high is set. So, we'll see if that pattern continues here or if maybe we can kind of reverse that uh right off of the right off of the 20. See if we can recapture that.

Watch the source15:40