SPDR S&P 500 ETF Sharply Higher

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

'' SPDR S$P 500 ETF SPY shares are trading higher by $1.94 at 209.89 in Monday's session. It has rallied over $2.50 since bottoming at $207.01 in Friday's session. The low from Friday coincided with a trio of lows in the issue from April 7 ($207.24), April 8 ($207.08) and April 9 ($207.19). For now the major resistance in the issue stands at the pari of highs from at last week a the $211 level, after peaking last Wednesday at $211.04 and last Thursday at $210.98. The all time high for the ETF stands at its December 18 high ($212.97) and the all time closing was made on March 2 at $211.99.