$SPY is holding the recovery zone, but 752 is the real test
SPY looks interesting here because buyers defended the sharp dip near 742 to 743 and pushed price back toward 751. That recovery is a good sign, but the chart is still not fully clean because price is sitting right under the 752 to 755 supply area where sellers reacted before.
My setup is simple. If It holds above 748 and reclaims 752 with strength, I’d look for continuation toward 755 first, then 758 to 760 if volume supports the move. That would show buyers are not just defending the dip, they are taking control again.
If price rejects around 752 and breaks below 748, I’d avoid chasing and wait for 743 to 745 as the next support retest. Losing that zone would make the setup weaker and could open a deeper pullback.
For me, this is a confirmation trade, not a blind buy. It is showing resilience, but after a strong recovery candle, the best trade is usually waiting for either a clean breakout above resistance or a calm retest near support. Patience beats buying the middle of the range.
