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
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.