SPY
November 10, 2023 15 minutes.
As expected 439-440 was resisted.
In fact, the open bar for the day was a gap up and closed at the low of bar triggering a sell with an Sl above the high of bar.
SPY
is now below all moving averages. And 200 s around 431.5. Now considering the last fall 437.67 to 433.39 we can short at 436 levels.
Reason is
It is 61.8% retracement
We have a stochastic black bar at the bottom. So a retrace may give stochastics around 70 levels. And if it falls without a black bar on top sell is confirmed.
Elliott oscillator Red, CCI Red.
Target 431-432 levels.
Trend change now is above 438.5 levels.