$SPY August 1 ,2024

SPY August 1 ,2024

15 Minutes.

547 consolidations broke with a big gap up.
And SPY managed to hold the gap during the day.

If we consider the rise from538.51 to 551.5 then holding 544 uptrend continues.

However, since it will close gap, I need 548 to hold being 38.2% retracement of the rise.
Once 554-555 is crossed i expect once more SPY 565 levels.

But first the moving averages need to sort out in 15 minutes.

And oscillator divergence too.