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Benzinga
Benzinga
Business
Mark Putrino

BZ Chart Of The Day: The Magic Level For SPY

NYSE ETF

The SPDR S&P 500 ETF Trust (NYSE:SPY) has run into resistance at around $415. If it can break through, there’s a good chance that a new uptrend forms.

Resistance is a large group of investors trying to sell their shares at, or close to, the same price. And as you can see on the following chart, that has been the case with SPY and the $415 level.

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