SPY
May 22, 2024 15 Minutes.
Oscillator divergence getting sorted out.
At the moment sell below 529.7 and buy above 531.75.
If
SPT
crosses 531.75 with bar having close near top, we can buy for 534 range. And if it closes below 529 with bar close near low of bar i will short for 527.5 levels which also is possible 200 average during the day.
For the day consider the rise 529.07 to 531.51.
SPY
need to hold 530for a target 533.5 to 534 if 531.75 is crossed. At the moment
SPY
is struggling around 531.5 three times. One negative issue I have is, the stochastics had a black bar on top and it retraced say below 25 without creating a black bar at bottom. But once it has crossed 75 there is no black bar on top. So, momentum seems to have lost. Have marked in chart.
So, I will wait for first 15 minutes after open and take a call.