SPY Daily Levels & Game Plan
Friday, July 31, 2026
750.42
749.57
748.46
747.35
747.08
744.00
743.60
741.69
736.04
733.38
8:36 AM Eastern - Today is the last trading day of July and SPY is back up above the upper (intermediate trendline) that price kept getting rejected at. This is what's happening right now during the premarket - things can change of course. Right now though, the bulls seem to be trying to make a stand. It remains to be seen if they can stick it.
There is some overhead resistance that the bulls will run into - starting right about where price is now, with about one our before the opening bell. The upper trendline runs from 744 at the opening bell to about 743.60 by the closing bell. If price dips below the trendline, there is yesterday's close at 741.69 that could be a line in the sand. That level at 741.69 and the trendline levels are not tradeable levels by default. They are gauges.
Otherwise the levels today are designed for base hits. If volatility increases, adjust position size accordingly to minimize risk. And give the levels more wiggle room. Typically a Friday Summer makes for slow market. But anything can happen at any time. If price approaches levels the right way, they are viable to trade against. If the market starts acting unusual, there is no shame in not trading a level. It's always trader's choice.
No data releases of significance scheduled for today. Trade well!
Note: entering trades after 9:45 AM Eastern and before 3:30 PM Eastern is recommended. An even more conservative approach is to trade only in the morning and ignore any price action – and not enter trades – after 12:00 noon or so. Base hits can be pulled out of the market in the afternoon of course, but generally when volume decreases, as it usually does during the lunch hour and early afternoon, the SPY’s reaction to the levels can be more unpredictable.