SPY
September 16, 2023 15 Minutes
As expected, the retracement for the fall 453.67 to 442.5 wen on till 61.8% around 450 levels.
It also was top of channel.
Then 5 peak counts in a channel are lost as the channel is broken on downside.
We have an oscillator divergence in 5 minutes.
So, a pull back on Monday can be expected around 445-446 levels before resuming the downtrend.
In daily for the rise 433.01 to 453.67
SPY
need to hold 438-440 levels. It is also around 61.8% retracement.
I expect 438-440 levels next week in 15 Minutes as
SPY
below all moving averages and averages converging around 447 levels.
61.8% retracement will give a chance to short.
I will wait for that level today.