I am often asked what the intraday support and resistance levels are for watching for when the S&P may dip or bounce back. At the same time I am also asked how to determine support and resistance levels for daily trading, especially as it pertains to the SPY ETF Hedge Strategy.
It’s of value to know this for trading the SPY ETF intraday and can help spot where an uptrend may start and end and where a spike may run into trouble, fall back but then stall out before trying to rebound. Following the intraday support and trend movements can assist in knowing where to place trades and where to close them often resulting in bigger daily returns in the SPY ETF trade.
This strategy article is for members and looks at how to plot support and resistance levels which can become important for not just trading in the SPY ETF but for stock and option trades as well.
This Spy ETF strategy article is for FullyInformed Members.
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