$SPY December9, 2024

SPY December9, 2024

15 Minutes.

As can be seen in chart SPY struggling around 608 609 levels.

The retracement i was expecting due to oscillator did not happen but it resulted in sideways movement.

For the rise 597.28 to 609.07 604.5 is approximately 38.2% retracement.

Also for the fall 609.07 to 607.07 to 608.38 605 is 1.618 times extension on reversals.

At the moment SPY is converged in 3 moving averages 9,21,50.
We have 100 averages sat 606 levels.

That is my first target for the moment.

Day is still strong, and I have 635-640 as target.

We have 606 as 9 averages in day so that should give good support on a reversal.