$SPY July 22, 2024
SPY July 22, 202415 Minutes.
The Oscillator divergence did not sort out between 563 - 565 levels.
Now again we have a divergence as
SPY making LL but oscillator did not make LL.So, a bounce back expected for the fall 559.53 to 547.9.
The 61.8% retracement is 555 levels.
We could be resisted in this at 552.5 being 50-day average.
If we take the last fall from 554.05 to 547.9, we have 551.7 as 61.8% retracement.
Hence for the day i expect 551 to 554 move which could give an opportunity to short.
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