$SPY October 22, 2024
SPY October 22, 202415 Minutes.
The downward bias target 580 was done yesterday.
SPY bounced back with a good bar with close near top of bar once 580 was done.This was 9 averages in daily.
For the fall 585.39 to 581.60
SPY retraced 61.8% to 583.5 levels.For the rise from 565.27 to 586.12
SPY has retraced 23.6% levels.So today holding 580 is crucial for furter uptrend to continue.
Buy is above 585 levels and sell below 580 levels for a possible target 573-575 levels.
This is not a chart to short for more than 3 to 5$ targets as of now.
If draw an extension from 566.6 to 585.27 to 578.54 first target is 588-590 levels for a buy above 585.
I expect a good move today or tomorrow as all numbers near moving averages in chart in 15 minutes time frame.
Time for a sideways consolidation move with bias towards upside.
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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.