SPY
November 18, 2023 15 Minutes
As expected
SPY
retraced only for the last rise. The low was 449.3. And the high was 451.42. Good for options traders only.
We are having 4 moving averages converging.
9,21,50 and 100 in 15 minutes.
200 averages are at 444 levels.
Due to consistent sideways movement last 2 days Elliott Oscillatores are not able to give a clue.
SPY
has made 3 peaks in the channel. So If and when 452 is broken we can expect a swift upside movement. I still have the target at 457-459 levels, holding 449.5 levels. At the moment I expect support at 444 levels being 200 on average.
I am buying once 452 is crossed.