$SPY October 29, 2024
SPY October 29, 202415 Minutes
For the fall 586.12 to 574.41
SPY retraced 78%. Hence, I expect only a double bottom for this move.For the rise 574.41 to 584.46
SPY retraced 61.8%. So, holding 576 uptrends to continue.
In 60 minutes 575-576 is 200 averages.
So, the shorts initiated yesterday will be covered at 579. If I get a lower. I am lucky.
SL at 582 for a zero trade.
At the moment I expect 579 or 575 to provide a good support.
Long is still above 585 only.
I am usually negative bias as long as
SPY is below moving averages especially 200 or 100 in 15 minutes.
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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.