SPY
May 3, 2024 15 Minutes.
Last 2 days
SPY
managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024. Now all moving averages have converged, 50 averages are around 502.5 levels.
So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510 levels.
My SL will be 500.
If I consider the rise from 493.86 to 510.75, we can see that 61.8% retracement has managed to hold twice around 499.5 levels. Thus, I expect a move 510 levels only.