$SPY February 24, 2025

SPY February 24, 2025

15 Minutes.

The move from 610.70 to 599.47 is extended.
Hence a retracement is possible.

I expect a retracement to 602-603 levels.

On weekly have a bad close.
High was made and close was near low.
On daily $\spy near 50-day average.
I expect a bounce to 603 -604 levels this week for a target 594 being 100 moving averages.

Not a week to go long.
As expected, 613-614 provided resistance and SPY pulled back as extension targe was achieved.