The S&P 500 has managed to close above 2,800 this week and make a new 2019 high, but the index is still dealing with resistance between 2,815-2,820. As shown in the charts for SPY below, this is an area that the index has tested (and failed) five times already over the last six months. It would be a fitting end to what has been a strong week for US equities if the S&P could finally break through resistance today. All it will take to push through is a gain of roughly 50 basis points today. Happy Friday trading!
Note that the charts below are pulled directly from the Tools section of our membership area. You can start using all of Bespoke’s helpful trading tools by starting a 2-month free trial to Bespoke Interactive today.