SPY
April 2, 2024. 15 Minutes
Took support at 200 averages twice and bounced back.
In 60 minute time frame considering the rise from 508.6 to 524.61 we can see oscillator divergence in play.
We are also having
SPY
around 9,21,50 averages in 60 minute time frame. 61.8% retracement is around 514 levels. So this level must hold for any uptrend to continue.
In 15 minute time frame considering the last rise from 521.06 to 522.79,
SPY
must hold 521.5 levels. If this level is broken I will try for a short for a target 518 initially being 38.2% retracement for the hourly rise.
At the moment long is only above 525.8 levels.