The SPY (S&P 500 ETF) serves as a key benchmark for tracking the performance of the S&P 500 index. Recent discussions highlight its volatility, noting a drop of over 30%, while the S&P 500 itself showed significant gains of 81.5% and notable declines and rises in comparison to various time frames. Currently, SPY remains under the 50 SMA on the 4-hour chart, signaling ongoing market uncertainties.
“SPY's under the 50 SMA here on the 4hour time frame. We actually closed under it.”
“So this looks good, man. Higher highs, higher lows are being made here on SPY. Uh but again, you never know what the market's going to do, especially in the midst of this trade war, especially as we're days away from that South Korea meeting between Trump and and Chi, right?”