The SPDR S&P 500 ETF Trust (SPY) traded higher, driven by strong mega cap tech earnings, easing geopolitical tensions, and falling oil prices. The ETF recently hovered around a day's range of $748.80 to $758.58.

Technical outlook:
SPY is on bullish momentum, moving on partial consolidation with support and resistance. Price have been ranging on this horizontal for a couple of over two months now, in respect to the structure. Price is currently at the resistance level, as we anticipate a short term retracement.

Key Outline:
A clear pullback at this point, activate a sell position down to $730.45, as next potential support.

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