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
HUGE move. 196 does not look to be in cards today.
SMP99
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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