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$SPY March 14, 2024

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SPDR S&P 500 ETF TRUST (BATS:SPY)  
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BATS:SPY   SPDR S&P 500 ETF TRUST
Fibonacci Parallel Channel Moving Averages
1
0
fibonacci parallelchannel movingaverage
SPY March 14, 2024

15 Minutes.

As expected SPY retraced to 515 levels.
Considering the rise from 504.91 to 518.22 SPY retraced to 508.5 which is more than 61.8% of retracement.
Hence SPY is struggling to move up.

If we consider the fall 518.22 to 508.5 SPY needs to be more than 514.5 levels which is 61.8% retracement for the fall. And SPY is holding to that level last 2 days.

For the day consider the rise from 510.51 to 517.38. SPY needs to hold 514 levels to resume uptrend to 518 levels.

Moving averages have converged. 100 is around 514 levels.

For the holding around 514.5 I expect 518-519 as a target.
Aviso legal

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