SPY
March 12, 2024. 15 Minutes
SPY
opened with a gap down but managed to hold 508 levels. It was mostly sideways between 509 to 511 levels the whole day, around 200 averages in 15 minutes.
Consider the fall of 514.46 to 508.5.
Strength is only above 512.5.
For the day need to hold 509.5 levels for a possible move toward the 512-514 area.
If
SPY
can consolidate between 509 to 512 levels I expect a trend move on Wednesday. Daily we have 2 levels to watch. Buy is only above 518.22 and 21 ema is around 504 levels.
I expect Tuesday should give us a clue for Wednesday's movement as long as the range mentioned for Tuesday is held.