SPY
February 19, 2024 15 Minutes.
498.5 was protected and 503 was not crossed.
For the day I will consider 2 rises.
490.72 to 502.86 and
494.4 ad 502.86
498 +- 0.5 becomes crucial today.
No trade day today.
I will watch for a setup to emerge.
Holding the longs still and will close if 495 is broken on the downside.
If
SPY
is between 497 and 503 today then I will be convinced that 504 could be taken out this week. Once 495 is broken I will look for short for a target 490-491 levels being around 200 averages in 60 minute chart. This is also 21-day support daily.
490.72 could be an HL if held., and hence becomes crucial to hold.