What should traders verify before buying SPY?

Traders should verify the move is backed by market breadth, earnings expectations, liquidity conditions, macro confidence and that the rally holds after the first impulse.

Why Is S&P 500 ETF Up Today?

Direct answer

SPY may rise if earnings expectations improve or liquidity conditions ease.

Most likely bullish catalysts

Strong earnings reports

Improving strong earnings reports can support a stronger bid in S&P 500 ETF.

Improved liquidity conditions

Improving improved liquidity conditions can support a stronger bid in S&P 500 ETF.

Rising macro confidence

Improving rising macro confidence can support a stronger bid in S&P 500 ETF.

What confirms the rally

Confirm the move is supported by market breadth rather than a thin short squeeze.
Check whether leadership across related etf markets is also improving.
Only trust continuation if the chart holds gains after the first impulsive push.