S&P 500 ETF (SPY) Trading Breakout Targets $390

The S&P 500 (SPY) is showing little to no evidence of weakness and remains in a bullish trading trend.

The recent trading breakout and follow-through confirms this and likely points higher into next week.

Upside price targets for SPY remain around $390 and stop losses should be raised to 379.23.

It would likely take a move below 364.82 to see any real acceleration in selling of the S&P 500 ETF.

s&p 500 etf trading rally price breakout higher analysis image january

If you have an interest in seeing timely intra-day market updates on my private twitter feed, please follow @NewtonAdvisors. Also, feel free to send me an email at info@newtonadvisor.com regarding how my Technical work can add alpha to your portfolio management process.

Twitter:  @MarkNewtonCMT

Author has positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

Sign up for our FREE newsletter
and receive our best trading ideas and research