$SPY August 28, 2024

8月28日

SPY August 28, 2024

15 Minutes

Yesterday SPY managed to hold 558 levels even though it opened gap down.

Today for the rise 558.32 to 562.05 holding 560 levels uptrend will continue.

I will go long above 562.5 levels for 564 to 565 as target for today. A good close could take us to 567 this week if 558 is held.

The lower levels are still intact between 553 to 558 levels with 556 as a good support.

Once 553 is broken then we can see a possible $8 to $10 retracement.

So, I will wait to short till 553 is broken.