RiderTrader

$SPY February 7, 2024

شراء
BATS:SPY   SPDR S&P 500 ETF TRUST
SPY February 7, 2024

15 Minutes

As expected 492 was held and SPY seems to have consolidated for a move today.

Also if we consider the fall of 496.06 to 490.23 it has closed above 61.8% of the fall.

And for the rise of 490.23 to 494.33, holding 492 we can expect a move upwards.

100 average is sloping upwards to 492 levels to provide good support.

As usual, due to V-shaped recovery, we are having sideways consolidation. Hence indicators will not give any clue.

I expect 496 to be taken out today/tomorrow provided 491.5-492 is held.

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