SPDR S&P 500 ETF TRUSTArca
Description
⋅ AMEX:SPY March 26, 2024
60 Minutes.
In daily and in 60 minutes we had the 524.11 bar as a sell bar because the close was near the low of the bar.
Hence buy is only above 524.5 levels.
In daily the 9 moving averages and in 60 minutes the 50 moving averages are around 517.5 levels.
I expect 517 to 518 as a strong support around 516-517 levels.
In 15 minutes AMEX:SPY is below all moving averages so 200 averages is the target now being at 517 levels.
If we consider the rise from 508.3 to 524.11 AMEX:SPY must hold 516 levels to continue up trend as it represents 61.8% retracement of the rise.
Hene 516 - 518 becomes an important number for the Tuesday trade.