$SPY 14, September 2024

9月14日

SPY 14, September 2024

Weekend views.

Uptrend confirmed.
I will be worried only if 510 is broken as of now.

On daily my target is 580 levels initially.

This is derived from 1.5 times extension for the move 348 to 459 to 409 levels.

On Monday if SPY is able to cross 564-565 levels and hold for at least one hour we can see a big move towards 580 in few days.

Now holding 555-557 is crucial for next uptrend.

In 15 minutes for the last rise 556.53 to 563.03 it is important to hold 559-560 levels.

If 559 is broken, then we will have another multiple tops around 563 and hence can expect some sideways between 554 to 560 to converge the moving averages.

Not the time to short in any time frame. As of now.