$SPY November 14, 2024

14 nov.

SPY November 14, 2024

15 Minutes.

We are in an interesting setup.

Foe the fall 600.17 to 594.37 SPY retraced 599 levels.
That is 78% retracement of the fall.

Also, we have a 599 top earlier on 12th November too.

And for the rise 594.99 to 599.23 SPY has retraced 61.8% to 596 levels.

Both denotes a limit of double top or double bottom being 599 or 594.

So, until this range is broken, I have no trade on either direction.

Today we will have a one-sided Thursdays move as usual.
My downside is limited to 590 592 levels. So, I will not take any shorts yet.

If 592 is broken, then I will look for 586-584 as target.
That represents 38% to 50% retracement for the rise 567.89 to 600.17.

585 at the moment is also 100 averages in 60 minutes time frame.