— Grayson Roze (@GraysonRoze) August 3, 2022
Today’s Chart of the Day was shared by Grayson Roze (@GraysonRoze). These are some of the largest equity index ETFs including; $SPY, $MDY, $SLY, $VTI, $IWB and $IWM. Grayson points out that all six of these ETFs are testing their Q1 lows. Price has already been rejected at these levels once before in early June. Will the second attempt be the charm? It would be a huge win for the bulls if the major indices reclaimed their Q1 lows. Keep an eye on how these tests play out in the near term!