SPY March 10, 202560 Minutes
Last week we managed to hit 565 as projected.
Now we are having LL with oscillator divergence.
Also, we can see in the channel LL 566.63 is a green bar with close near top of bar.
Now from Marcg 4 to 7
SPY struggling to cross the mid channel line.Foe the fall 597.43 to 565.63 a retracement up to 585 is possible.
583 is 50 averages.
On Monday holding 573-573.5 I expect a move towards577 - 581 range.
Due to oscillator divergence, I will not short.
No trade day for me on Monday as long is also above 598 for the moment.
On the other side if 564 is broken my target is 560 which will end the extension move as drawn.
Some consolidation is coming this week which will give us a better picture hopefully by Wednesday.
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Disclaimer
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.