SPY
December 7, 2023 15 Minutes.
As expected uptrend was restricted as parameters were not in support. The gap-up gave a chance to short at open with SL 458.95 levels.
In 60 minutes
SPY
is t 100 average support with 200 being 444 levels. I expect a downside today.
If we consider the rise from 446.09 to 459.64
SPYY
has retraced to 38.2 Levels. Since it's below all moving averages, Elliott oscillator Red, CCI red, and stochastics have a black bar at the bottom downside is expected towards 451 levels. Any rise is now a sell.