SMP99
Short

SPY Thu 9-25

AMEX:SPY   SPDR S&P 500 ETF
153 5 2
9-25: The afternoon liftoff took the 15 min RSI back to +70 as expected, right into resistance at 199.50-199.60. I think a test 198.50-198.70 is likely and should resolve some of the overbought condition. Action there may determine if 50 MA (197.82) will be tested again today/tomorrow. If support holds at 198.50 then a retest of 200.31 becomes likely. Otherwise 197.8, then 196.60

Upside target: 200.30
Downside target: 198.60, 197.82, 196.60

UPDATE: Two downside targets hit in first 40 min. Next up 196.60?
UPDATE 2: Final downside target of the morning hit. Bonus target 195.75 up next?
leokaplin
2 years ago
GREAT CALL!!!! if today 196.60.. then what?
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SMP99 PRO leokaplin
2 years ago
IF 196.60ish fails, we get 195.75
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SMP99 PRO
2 years ago
15 min RSI moved from 73 to 23 in 55 min.
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leokaplin SMP99
2 years ago
HUGE move. 196 does not look to be in cards today.
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SMP99 PRO leokaplin
2 years ago
Look at 15 min chart of April 3rd to April 11 SPY. It had a very swift 50% retrace of a down move. Followed by a new low. We seem to be following that move but on a faster time scale. 196.50 may this afternoon or in the morning
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