SPY
April 9, 2024. 15 Minutes.
After the fall, sideways as expected.
SPY
has retraced 61.8% of the fall. Buy is still above 525 only.
Need to close above 200 averages in 15 minutes.
As all moving averages are near in 15 minutes I expect a onesided move today based on open.
If break 517.5 I have a target of 512-513 levels and ig cross 520.5 then the target is 523-524 levels.
512 is approximately 61.8% retracement for the move 509 to 524 as marked in the chart and 522-524 is channel mid and top respectively.