$SPY
28 02 2023
Daly
Downtrend.
If we take recent high 418.31 then
Wave 1 = 418.31 to 405.01
Wave 2 = 405.1 to 415.05
Wave 3 = 415.05 to 393.64
So, assuming wave 4 in progress we can see levels up to 398-5 to 402-403 levels.
Hourly
Values same as above.
But wave 4 seems to have been done from 393.64 to 401.28.
As SPY is below all moving averages Wave 5 can be under progress.
15 Minutes
As long as SPY us below 399.51 it can be considered as downtrend.
200MA in 15 minutes is around 402 levels giving a possible resistance.
And in daily that level is also wave 4 targets.
As of now uptrend is only above 402.5 levels.
28 02 2023
Daly
Downtrend.
If we take recent high 418.31 then
Wave 1 = 418.31 to 405.01
Wave 2 = 405.1 to 415.05
Wave 3 = 415.05 to 393.64
So, assuming wave 4 in progress we can see levels up to 398-5 to 402-403 levels.
Hourly
Values same as above.
But wave 4 seems to have been done from 393.64 to 401.28.
As SPY is below all moving averages Wave 5 can be under progress.
15 Minutes
As long as SPY us below 399.51 it can be considered as downtrend.
200MA in 15 minutes is around 402 levels giving a possible resistance.
And in daily that level is also wave 4 targets.
As of now uptrend is only above 402.5 levels.