Stronger technical forecast for SPDR S&P 500 ETF price after Tuesday trading

The SPDR S&P 500 ETF price gained 0.570% on the last trading day (Tuesday, 3rd Jun 2025), rising from $592.71 to $596.09. During the last trading day the ETF fluctuated 0.89% from a day low at $591.85 to a day high of $597.10. The price has been going up and down for this period, and there has been a 0.2% gain for the last 2 weeks. 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, 63 million shares were bought and sold for approximately $37.79 billion.

The ETF lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $610.83 will firstly indicate a stronger rate of rising.Given the current short-term trend, the ETF is expected to rise 4.85% during the next 3 months and, with a 90% probability hold a price between $538.43 and $640.45 at the end of this 3-month period.

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 $589.46 and $566.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 08, 2025, and so far it has risen 20.06%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the ETF finds support just below today's level from accumulated volume at $548.62 and $505.28.There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, SPDR S&P 500 finds support just below today's level at $548.62. If this is broken, then the next support from accumulated volume will be at $505.28 and $504.38.

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 $5.25 (0.89%) between high and low. For the last week, the ETF has had daily average volatility of 0.99%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR S&P 500 ETF to perform well in the short-term.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.