**SPY — SPDR S&P 500 ETF — Daily Chart Breakdown** *Friday 4/10*State Street SPDR S&P 500 ETFAMEX:SPYEthicalxTrader**SPY — SPDR S&P 500 ETF — Daily Chart Breakdown** *Friday 4/10* **These trading plans for SPY are purely for idea for those that are very familiar with SPY trading and know how to consistently trade it. All others should completely disregard and steer clear of SPY. Trading SPY is high risk.** --- ## 🔍 Key Observations • SPY is currently trading around **679.46** after a strong recovery bounce off the recent **632 flush low** • Price has reclaimed several key levels and is now pressing into a **major resistance / supply zone** • The most important area right now is the **678–680 pivot**, which price is testing into the close • The bounce has been sharp, but this is now a key spot where bulls need continuation This is a critical area because it sits just under the **680 post-market / horizontal resistance shelf**. --- ## 📈 Key Support Levels ### Immediate Support • **678.47** → immediate pivot support • **675.65** → first support shelf • **672.71** → stronger near-term support • **668.47 – 666.84** → major demand zone • **663.70 – 662.37** → larger support shelf The strongest short-term support is now **675–676**. --- ## 📉 Resistance Levels • **680.00** → immediate breakout trigger • **681.09 – 682.90** → near-term resistance • **685.24** → major resistance • **688.91** → continuation target • **691.57 – 696.09** → major upside zone A close above **680–681** opens room for continuation. --- ## 📊 EMA / Trend Structure • Price has reclaimed above the **50EMA on the daily** • The **200EMA remains below and rising** • Daily structure has improved significantly from the recent flush • Momentum has shifted back toward buyers short term This now looks like a **strong relief rally / potential continuation attempt** --- ## 🎯 Trading Plan ### Bullish Scenario Trigger Hold above **678.47** and reclaim **680–681** Targets • PT1: **682.90** • PT2: **685.24** • PT3: **688.91 – 691.57** If momentum continues, the upper zone near **696** becomes the larger target. --- ### Bearish Scenario Trigger Loss of **678.47** and rejection from 680 Targets • PT1: **675.65** • PT2: **672.71** • PT3: **668.47 – 666.84** If sellers reject this area, this could turn into a failed bounce. --- ## 📌 Summary SPY has made a strong recovery off the flush low and is now testing **major resistance** • key pivot = **678–680** • breakout above = bullish continuation • rejection = pullback into mid-670s This is one of the most important decision zones on the chart right now. A clean break over 680 would likely bring momentum buyers back in quickly.