SPY Support around 360?

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 Looking at the 30-year chart of the S&P 500 ETF (SPY), the yellow line represents a crucial support level that held in March 2020 and again in October 2022 during severe periods of panic selling pressure. This rising line now sits at around 360 or 3,600 for the S&P 500 index, roughly 220 points, or 5.7% below where the market closed out the year last Friday. 


The SPY is bouncing between 360 and 421, is the market sees stormy wind it will test 360.

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