$SPY June 6, 2024AMEX:SPY June 6, 2024
15 Minutes.
As expected, 533 was done yesterday.
If we take the last sideways consolidation rise from 524.95 to 534.69, holding today 532 i have a target 538-540 levels.
However as AMEX:SPY has moved from 522.6 to 534.69 from Monday to Wednesday, i expect a sideways consolidation today before attempting to hit 538 tomorrow.
As we can see in chart AMEX:SPY is having multiple hits at channel mid, so I expect a breakout, retrace and then swift move to 538-540 tomorrow.
The moving averages are getting sorted out to be in order with 100 expected to cross 200 today.
The only negative issue is oscillator divergence which should get sorted out today.