SPY
January 31, 2024 15 Minutes.
Shorts closed.
Looking for a fresh setup.
Elliott divergence continues.
SPY
making new highs. I will take 2 rises. 485 to 491.47
487.84 to 491.47
As we can see in the chart
SPY
has taken multiple times 100 average support in 15 minutes time frame. So any pull back I expect to be in the range 487-488.5 levels only being 200 and 100 averages.
In the event of a pullback, it should take support around 486 levels being 200 support in 15 minutes and 9 days support daily.
Since my previous conra setup did not work out I will not take a position today. I will wait and watch for today's close.