How SPY Behaved
SPY opened at 771.76 and finished 0.31% lower, closing at 769.38 after trading between 768.31 and 775.30.
The session high was recorded first, around 11:01 ET, before price later rotated down to the session low around 13:10 ET. SPY finished in the lower quarter of its intraday range.
What Drove the Market
Across corroborating market coverage, the session was shaped by several macro and sector drivers. Inflation and Federal Reserve expectations remained an important part of the session's macro setup. Large-cap technology and semiconductor shares were an important index-level influence during the session. Attention also turned toward major retailer earnings for a read on consumer demand and margins.
Inflation and Federal Reserve expectations remained an important part of the session's macro setup.
Large-cap technology and semiconductor shares were an important index-level influence during the session.
Attention also turned toward major retailer earnings for a read on consumer demand and margins.
Published Read vs. Actual SPY Result
The published directional read is compared with the completed session outcome.
Price Areas That Actually Mattered
SPY first traded through this downside observation level at 10:13:00 ET.
SPY first traded through this upside observation level at 10:53:00 ET.
What the Next Session Is Set Up to Test
SHORT outlook • confirmation 770.10 • invalidation 774.42 • target 767.94 • extension 765.77.