SPY
April 18, 2024 15 Minutes.
Closed shorts yesterday at 500 in SPY.
We have 494 as a daily 100 average and 21 in weekly.
At the moment I do not expect a trend change to long.
I expect any upside to be resisted around 506 levels being 50 average in 15 minutes.
If we consider the fall from 517.28 to 499.12 we have 61.8% retracement around 510 levels. It is also 200 averages in 15 minutes.
The three LL in 15 minutes had created an oscillator divergence.
Hence if we have a gap up or a relief rally towards 506 levels I will short.