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
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
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.