$SPY September 24, 2024

24. Sept.

SPY September 24, 2024

15 Minutes.

Looks like consolidation was done yesterday.

For the fall 572.88 to 565.17 SPY retraced to 570 levels which is 61.8% retracement.

Now we have a range fixed.
Sell below 565 and buy above 570.5 as long as the bar is closed near bottom or top on that breakout.

Also, in for the rise from 565.17 to 570.34 SPY retraced yesterday to 568 levels which again represents 61.8% retracement for that rise.

Bias is towards long.

I will go long above 570.5 levels based on closure.
I expect a gap up so as usual may not get a chance to enter.
I will wait for first 15 minutes in case of gap up before taking long.

Target 574 to 578 levels for the Fib extension as drawn in chart.