$SPY September 18, 2024

18 Sep

SPY September 18, 2024

15 Minutes

SPY managed to make an ATH at 566.57.

Now for the rise 539.95 to 566.57 it is important to hold 560.

Below that weakness can be seen for a target 554 +-1 levels. So shorting is not worth.

If SPY manages to hold 563-566 levels, we can see 574 +- as a target for the longs.

A retracement is on cards due to oscillator divergence. or a sideways moment between 560-566 levels.

On a daily level, if SPY consolidated between 556-566 levels i expect 574 as initial target.

Again. Not the time for shorts for me.