$SPY April 17, 2024 Short
SPDR S&P 500 ETF TRUSTArca
Description
⋅ AMEX:SPY April 17, 2024
15 Minutes.
Consolidation day.
Today is Wednesday. I am expecting a one sided move.
For the fall 506.5 to 502.61, AMEX:SPY retraced 78% and fell at close.
For the two lows 502.43 and 502.22 we have oscillator divergence.
I believe the uptrend for that divergence is over from 502.2 to 506.
Today action will be above 507 or below 502.
My upside target is limited to 509-510 levels.
My downside target is 497-500.
I prefer to short at the moment.
I generally go long ony when AMEX:SPY is above all moving averages.