This daily chart is supposed to show you the most recent support and resistance levels. The two we watch most often is the previous days highs and lows and the last swing highs and lows. These levels are important for both day trading and swing trading.
Here is the technical analysis of SPY. Even though it bounced off of Monday’s lows, at KIS Chart Analysis we would like to see it come down and fill the gap before it continues this move up.