$SPY gets back to $450, now what?
We have been looking for 
SPY to get back to $450, provided it could clear the 200-day moving average.
It has been pretty much rangebound between 430 and 440 -- roughly speaking -- and once it cleared the latter, $450 was the upside target. It's not just the 50% retracement, but back into the December lows. From here, we'll have to navigate. another push higher could put the 61.8% retracement, 21-day and volume-based VWAP in play. If we fail here, last week's high near $444 and the 10-day moving average are in play.
SPY to get back to $450, provided it could clear the 200-day moving average. It has been pretty much rangebound between 430 and 440 -- roughly speaking -- and once it cleared the latter, $450 was the upside target. It's not just the 50% retracement, but back into the December lows. From here, we'll have to navigate. another push higher could put the 61.8% retracement, 21-day and volume-based VWAP in play. If we fail here, last week's high near $444 and the 10-day moving average are in play.
כתב ויתור
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