SPY Is Testing 765.52 After Closing Above 770.09.State Street SPDR S&P 500 ETFBATS:SPYvirDeStateraSPY Is Testing 765.52 After Closing Above 770.09. SPY closed yesterday at 773.09, its first close above 770.09 since October 15, but is trading near 765.80 premarket - back under the line and sitting on 765.52 support. The hourly structure is bearish and transitional, with a fresh bearish announcement printed premarket at a mid-range quartile. The 4H light is green with a top-quartile bull read. The timeframes disagree, and the premarket move is not a close. Resistance: 769.05 - Tuesday's close Key resistance: 770.09 - the line it closed above yesterday Current price: 765.80 Support: 765.52 - the level being tested Key support: 762.57 - the next shelf Structural floor: 760.80 - last week's lows Two paths from here: It holds and closes back above 770.09. A regular session close over the line keeps yesterday's breakout intact and reopens 773.93, then 777.72. In that version the gap down was only a premarket dip. It closes under 765.52 and the breakout fails. A regular session close below support opens 762.57 and then 760.80. Below 765.52 the move back above 770.09 is undone. Yesterday's breakout and this morning's gap down cannot both stand - the regular session close settles it. 770.09 to hold the break, 765.52 to fail it. Built with SOM / ACE / IMP Study, not financial advice.