SPY Weekly & Daily Market Analysis – Support Zone in Focus

🔍 Daily Analysis – Week of August 18, 2025

On the daily timeframe, things are getting more interesting.

SPY built out anew support zonethat ties directly into the uptrend line. As long as this area holds, we’re looking for continuation higher, specifically a break above the new resistance zone near646.19, which would open the door to the next fib target at647.53.

However, if bulls can’t muster fresh momentum from this support zone, we should expect a test of the50SMAand some broader consolidation before the trend resumes.

Key developments:

• The 50, 100, and 200 SMA alignment is finally returning to ahealthy 50 > 100 > 200stance.

• That structural alignment, combined with the ongoing uptrend, strongly suggests we’re setting up fornew 52-week highsif support continues to hold.

• RSI and MFI have cooled off just enough to allow for more upside without immediate exhaustion risk.

Takeaway:This is a “wait and see” week. Watch how SPY behaves at support. If bulls step in, we could be off to new highs quickly. If not, the 50SMA test becomes likely before the next leg up.