SPY
April 12, 2024 15 Minutes.
As expected ying yang is going on. Stop loss would have hit on both sides.
After the quick fall from 523.86 to 512.76
SPY
has multiple times taken support at 512 levels. At the same time it is being resisted at 61.8% of the fall around 520 levels multiple times.
For the first time in days has managed to close above averages in 15 minutes.
For the day
SPY
must hold 515 levels to continue uptrend next week. On the downside at the moment first support is 510 levels which is 50 days in daily.
So not worth shorting today.
If
SPY
can consolidate between 515 to 520 levels today, then next week should be interesting. No trade today for me.