SPY February 10, 202515 Minutes
For the rise 595.99 to 608.13
SPY retraced 61.8%. So, 601-602 is a good level to go long with SL 598.Since the retracement was 61.8% double top is possible around 607-608 levels.
So looks good R:R ratio.
Foe the fall 6018.13 to 600.65 need to cross 605.5 for uptrend.
Hence 601-602 buy will have a target 604-605 levels.
But
SPY at the moment is below moving averages with 200 and 50 being around 603 to 604 levels which i expect to be resisted.Hence no trade today.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.