The SPDR S&P 500 ETF Trust, known as SPY, is a popular exchange-traded fund that tracks the performance of the S&P 500 index. Investors use SPY as a way to gain exposure to the overall stock market without having to purchase individual stocks.
Pivot points are a technical analysis tool used by traders to identify potential turning points in the market. They are calculated based on the previous day’s high, low, and close prices, and can help traders determine levels of support and resistance for a particular security.
When using pivot points with SPY, traders can look for potential entry and exit points for their trades. By analyzing these levels, traders can make more informed decisions about when to buy or sell SPY shares.
Overall, SPDR S&P 500 ETF Trust is a popular choice for investors looking to diversify their portfolios and gain exposure to the broader stock market. Utilizing pivot points can help traders navigate the market and make more informed decisions when trading SPY shares.