SPY Coils in TTM Squeeze at $690.31, Breakout Imminent

SPY (SPY) traded flat at $690.31 on December 27.

Technical indicators paint a bullish picture:

• Moving Averages: Price trades above the 9-day EMA ($684.91) with a bullish stack. The 21-day EMA at $682.34 provides support.
• Momentum: RSI at 63.7 is in neutral territory but trending higher. MACD is bullish (3.17 vs signal 2.52).
• Volatility: Stock has been in a TTM Squeeze for 5 days, indicating compressed volatility and potential for a significant move.

Key levels to watch: Support at $673.70, Resistance at $692.69.