SPY Is Holding New Highs At 774.

The trend is intact and the surface finally agrees. SPY held its gains and is trading 774, just under the 774.79 high, with the conviction engine now reading a bullish thesis and top-quartile. The divergence that had price and surface disagreeing on the break is gone - the surface caught up. The move from 748 to 774 is a clean trend now. The only caveat is how far and fast it has run: this is extended, and holding new highs after a vertical week invites a rest. Neutral.

Resistance: 774.79 - the high
Key resistance: 778.00 - open air above
Current price: 774.43
Support: 765.71 - first support
Key support: 759.67 - the prior high
Structural floor: 755.66 - the breakout base

Two paths from here:

It holds 765 and extends. With the surface now confirming and price at new highs, holding above 765 keeps the trend intact toward 778. A confirmed trend with the conviction surface on side is the strongest configuration there is.

It pulls back to digest the run. A near-vertical week into new highs is stretched. A loss of 765.71 and then 759 would signal a healthy backfill after the run. Extended trends rest; they do not go straight up forever.

SPY is holding new highs with the surface finally confirming the move - the break that started on a divergence has become a clean trend. The only question now is duration: it is extended, and even strong trends pause. 765 is the level that keeps it going.

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Study, not financial advice.