$SPY February 3, 2025
SPY February 3, 2025Weekly
We will consider 2 lows.
218 made in 2020 and 348 made in 2022.
Now for the move 218 to 473 to 362.
100% move for the extension i218 to 473 is 612 levels.
That is nearly achieved around 610 levels.
Now for the extension drawn from 348 to 459 to 409 1.618 extension is around 591.
This is also done.
However, in monthly time frame for the extension 218 to 479 to 348 100% extension is at 620 levels. Which is the next target.
At the moment daily is strong.
We have 9,21 and 50 converging.
100 averages are at 586 levels.
So, if any fall I expect good support around those levels.
60 Minutes.
As written earlier
SPY in a box.Gaps, long bars need to be sorted out.
200 hourly is at 596 levels being bottom of box.
So, I will dell only below that.
For the rise 575 to 610.78 50% retracement 593 levels.
SPY already attempted once that level and bounced back to 609 levels.So, for the rise 594.64 to 609.96 holding 599-600 is important for uptrend to continue.
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.
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.