SPY Confirms the Breakout: What’s Next and 3 Setups to Watch

🔍Daily SPY Analysis – Week Ending August 23, 2025

The daily chart reveals the week’s structure with much greater clarity.

As anticipated in last week’s commentary, price pulled back into thesupport zone, tested therising trendline, and held. Buyers stepped in exactly where they needed to, preserving the integrity of the uptrend and setting the stage for a potential continuation.

On Friday, price begantesting resistance at 646.19, though it has not yet closed above it. This is the next level to clear. If bulls can follow through with a decisive close above this resistance, the path opens toward the next fib targets at653.51and662.81.

📌Key Points:

• The support zone around 635.92 held perfectly, aligning with both horizontal structure and the uptrend line

• Friday’s strong candle marks a shift in momentum back toward buyers

• Squeeze momentum and TrueMomentumremain positive, but have more room to expand

• MFI and RSIhave reset from recent highs, providing room for another leg up without immediate risk of exhaustion

As long as price continues to hold the uptrend, the outlook remains bullish. This is a continuation setup in the making. A close above resistance would confirm it and likely accelerate upside toward the marked targets.