SPY ETF price ended at $575.84 on Friday, after gaining 0.520%

The SPY ETF price gained 0.520% on the last trading day (Friday, 7th Mar 2025), rising from $572.86 to $575.84. During the last trading day the ETF fluctuated 2.08% from a day low at $565.63 to a day high of $577.37. The price has fallen in 6 of the last 10 days and is down by -4.01% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 76 million shares were bought and sold for approximately $43.84 billion.

The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $572.80 will give a strong sell signal and a trend shift may be expected.Given the current horizontal trend, you can expect SPY ETF with a 90% probability to be traded between $569.48 and $608.49 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETF seldom manage to go directly from the bottom of a trend up to the top. ETF turning up in the middle of a horizontal trend are therefore considered to be potential runners.

A buy signal was issued from a pivot bottom point on Thursday, March 06, 2025, and so far it has risen 0.520%. Further rise is indicated until a new top pivot has been found. 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. The SPY ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the ETF. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $581.66 and $598.99. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

SPY finds support from accumulated volume at $572.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $11.74 (2.08%) between high and low. For the last week, the ETF has had daily average volatility of 2.24%.

SPY holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.