SPY
May 24, 2024 15 Minutes.
SPY
opened gap up. Close was bad. as it closed near low of bar.
Having expected 534 on upside, short opportunity came easily.
We have 2 issues.
SPY
made ATH. But close in daily and week so far is bad. Near low of bar. So, if today we have a closure near end of bar in week. Next week we will have downtrend.
So now buy is confirmed only above 533.5 levels.
Till then we keep shorting. For the moment.
For the day any retrace to 529.5 for the fall 531.49 to 524.73 will give opportunity to short.
We are having 517 as 21 EMA in daily.
Thats the target I will short next week.