SPY
September 14,2023 15 Minutes
Yesterday projected levels were held.
Moving averages have converged.
If we consider 453.67 as wave 5 then ABC is going on.
442.75 A, 447.77 B.
Hence pattern will break only above 448.77.
Today if 445.33 is broken downside we can expect 442-440 levels as C.
As discussed last few days considering the fall 453.67 to 442.5 61.8% retracement is around 449-450 levels. That also is top of channel as of now.
I expect
SPY
to break on lower channel and have a target 440-442 levels. If we see in daily 440 need to hold to continue uptrend as it is 61.8 % retracements for the rise 433-453.