$SPY May 23, 2024AMEX:SPY May 23, 2024
15 Minutes.
Once more day. 531 became a tough nut to crack. As expected once 529 broke we have a low near 527.5 levels.
For the last rise from 499.55 to 531.56 23.6% retracement is 524 levels.
in 15 minutes for the rise from 520.56 to 531.56 61.8% retracement is 525 levels.
Today as expected in 15 minutes AMEX:SPY too support at 200 averages.
For the day if we take the last fall 531.56 to 527.6 530.8 to 531 will be a level to short SL 532.5 to 533.
My target for upside is still 534 provided 532 is taken out convincingly.
For the day my bias is towards 524- 525 once 527.4 is born on downside.