T3 Live on $SPY (Oct 26, 2026)
SPY is only about 3% off its highs while many stocks have been crushed, and since SPY has not had its downside catch-up yet, that could still happen. The weekly ascending channel looks vulnerable to breaking down; if SPY breaks and stays below 758 a downside move could follow, so all buying power should not be deployed now.
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And then, you know, you take them out of the way and then you bring in, you know, the S&P, which is right here, and you take a look at the the spies, and all of a sudden it's like hunky dory land where you're only down 3% off the highs, which what this does is it creates, you know, like a confusion and a divergence in the brain.
Like how could you bottom feed those names that are all gotten crushed if all of a sudden what if what if the the spies because it hasn't happened yet. What if they play some downside catchup? Cuz that could happen.
Um, you know, the spies right now, if you take a look, are up a bunch. Spies are only up a$128, you know, so it's very quiet. You know, Friday's low is 768. This is 758. Here's your 100 day.
Um, I did show you guys the weekly chart just to show you like, hey guys, got to be a little careful here. You know, it it looks as if this ascending channel could break to the downside.
Just to show you, just to just to prepare, just in case. This is the the the range we've been in, which has been really tough. This candle right here, you know, two weeks ago, took this out and now no real progress.
So, if we were to really really break below 758 and stay below, um you could get that that that um that move to the downside, which is why you can't start putting all your buying power to work now.
What this channel has said about $SPY
T3 Live has 11 calls on this stock; only the adjacent ones are shown.