SPY Thu 9-25

9-25: The afternoon liftoff took the 15 min RSI back to +70 as expected, right into resistance at 199.50-199.60. I think a test 198.50-198.70 is likely and should resolve some of the overbought condition. Action there may determine if 50 MA (197.82) will be tested again today/tomorrow. If support holds at 198.50 then a retest of 200.31 becomes likely. Otherwise 197.8, then 196.60

Upside target: 200.30
Downside target: 198.60, 197.82, 196.60

UPDATE: Two downside targets hit in first 40 min. Next up 196.60?
UPDATE 2: Final downside target of the morning hit. Bonus target 195.75 up next?