$SPY November 7, 2024.

SPY November 7, 2024.

60 Minutes.

For the rise 567.89 to 591.93 holding 580 levels is crucial for uptrend to continue.
580 is the top of gap for the fall as marked in red box.

Hence if i take the rise from 574.69 to 591.93 581 levels is important in smaller time frame.

I need SPY to close above 593 for a target 640+
My views are same from September.

Holding 540 we are in a big move towards 640+
Now holding 565-570 is important on daily for that move.

The oscillator divergence marked yellow rectangle played out well in this move.

I expect some sideways today so that 9,21 averages can catch up.

All moving averages are near. So, after this consolidation one more big move is expected.
I had always posted I wanted to go long above 585 only.
And it gapped around that area yesterday and held on too.

So now 581-585 becomes important zone to watch.