SPY
November 23, 2023 15 Minutes.
I exited my position at the gap up yesterday around 456 levels.
I feel
SPY
is getting tired. As of now nearly all upside targets are met.
We have an oscillator divergence. Price making higher, Oscillator not keeping it up.
For any upside today I expect 457 a good level to short.
SPY
is making HH, and HL in the channel. But the bars are not good. The red bars are longer compared to the green.
So I expect the channel around 453 to be broken for a swift target of 446-450 levels.
For the day holding 453-453.5 levels, target is 457-458.
Below 453 first target is 451-451.5 being 50 averages and 61.8% retracement for the rise 448.12 to 456.38.