$SPY December 5, 2024

SPY December 5, 2024

15 Minutes
60 Minutes

Gaps not getting filled.
Very strong uptrend.
Being a moving average and Fib trader i do not have a setup for fresh entry or short.

At the moment if any pull back 60o is the number to watch.
It is 9 moving averages in day, and 38.2% retracement for the move 587.43 to 607.91.

SPY not even breaking 21 averages in 60 minutes since the move started from 587.43.

HH HL pattern. No way to short.
At the moment even if I short at 601 levels the target is only 598. So not much R:R.

Need to continue the longs for 608-612 as initial target provided 601 is holding.
I have no position.