SPY
September 20,2023 15 Minutes
Achieved $440 as target.
Shorts closed.
I will consider 3 fibs.
The fall 451.07 to 439.94
The fall 444.96 to 439.94.
Ride 439.94 to 443.29.
As of now uptrend only above 451.07.
If we take 439.94 then 444.96 has to break to change trend.
For the rise to continue we need 441.6 to hold today,
9, 21 average is below 50. Closure is around 50 averages.
I expect 444.9 - 445.6 to give resistance being 100-200 averages on upside.
A per Elliott wave if i consider 439.94 as A then B is 443.29 and C will be down.
Since Stochastic black bar is at bottom sell on rise is still on.
This retracement in 15 minutes is also due to oscillator divergence in 15 minutes as price was making LL but oscillator did not.
Hence i will sell around 444 - 444.5 levels.