Next Key Resistance On The SPDR S&P 500 ETF Trust
The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) continues to rally, approaching its next resistance point at $198.50. This is the last resistance level prior to the all time high of $199.06. While a resistance level, do not look for a major pull back on the daily chart. This would be an intra day trade or one day swing trade. Light volume and holiday price action should continue to keep the markets marching towards the 2,000 level on the S&P 500 (SPY 200.00). Cheers and happy trading.