$SPY August 5, 2024
SPY August 5, 2024Levels broken.
We have to take from two lows,
409 and 493
500-502 is 200 average in daily.
Today premarket has broken 61.8% levels of 494 - 565 rise.
If we take the low from 409 then 38.2% retracement for the move 409 to 565 is 505 levels.
That will be 10% correction and probably 200 average supports.
Have to see if it holds.
Since the move started from 490 levels i will be worried only if 490 is broken.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.