SPDR S&P 500 ETF upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session

The SPDR S&P 500 ETF price gained 0.683% on the last trading day (Thursday, 8th May 2025), rising from $561.15 to $564.98. During the last trading day the ETF fluctuated 0.584% from a day low at $561.70 to a day high of $564.98. The price has risen in 8 of the last 10 days and is up by 3.36% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 59 million shares were bought and sold for approximately $33.28 billion.

The ETFhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $562.22, a level that may pose a second chance to hit a runner. According to fan-theory $651.81 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

The SPDR S&P 500 ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $561.17 and $546.89. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 02, 2025, and so far it has fallen -0.314%. Further fall is indicated until a new bottom pivot has been found.

SPDR S&P 500 finds support from accumulated volume at $548.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $3.28 between high and low, or 0.584%. For the last week, the ETF has had daily average volatility of 0.82%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.