$AMEX: SPY February 26, 2024
15 Minutes.
The retracement did not happen. SPY was sideways on Friday.
Consider the 2 rise.
493.56 to 510.13 and
503.02 to 510.13
On Thursday we had a $5 gap. I am not at the moment expecting a gap to be filled.
Holding 505 is important today.
100 average is around 502 levels sloping upwards, hence on a pullback I have a target of 503-504 levels.
I am expecting a pullback also because on a daily the difference between 9 and 21 on average is nearly $5.
Most important on a daily the close was near low, and the bar made ATH, 9 average is around 501 and the rise 490.72 to 510.3, the 38.2% retracement is around 503 levels.
15 Minutes.
The retracement did not happen. SPY was sideways on Friday.
Consider the 2 rise.
493.56 to 510.13 and
503.02 to 510.13
On Thursday we had a $5 gap. I am not at the moment expecting a gap to be filled.
Holding 505 is important today.
100 average is around 502 levels sloping upwards, hence on a pullback I have a target of 503-504 levels.
I am expecting a pullback also because on a daily the difference between 9 and 21 on average is nearly $5.
Most important on a daily the close was near low, and the bar made ATH, 9 average is around 501 and the rise 490.72 to 510.3, the 38.2% retracement is around 503 levels.