$SPY November 16, 2023

SPY November 16, 2023

15 Minutes.
As expected not much movement to the upside.
Nor any retracement.
Now SPY in 15 minutes is less than 9,21 and 50 averages.

It looks like a retracement will happen today.
I am expecting 446-447 levels.

As you can see for the 2 rise
433.39 to 451.37
440.1 to 451.37

we have a fibo meeting at 444.5 levels.
No trade da for me.

Yorum:

In daily if you consider the fall 459 to 409 then 440 is important to hold. It is 61.8% retracement. And if a retrace happens to say 440-444 levs then the first target is 459.
Also in daily stochastics, the black bar has come on top. So any retracement is a buy as of now.
Trend change below 440-438 levels on a closing basis.