$SPY October 22, 2024

SPY October 22, 2024

15 Minutes.

The downward bias target 580 was done yesterday.

SPY bounced back with a good bar with close near top of bar once 580 was done.

This was 9 averages in daily.

For the fall 585.39 to 581.60 SPY retraced 61.8% to 583.5 levels.

For the rise from 565.27 to 586.12 SPY has retraced 23.6% levels.

So today holding 580 is crucial for furter uptrend to continue.

Buy is above 585 levels and sell below 580 levels for a possible target 573-575 levels.

This is not a chart to short for more than 3 to 5$ targets as of now.

If draw an extension from 566.6 to 585.27 to 578.54 first target is 588-590 levels for a buy above 585.

I expect a good move today or tomorrow as all numbers near moving averages in chart in 15 minutes time frame.
Time for a sideways consolidation move with bias towards upside.