SPY
November 28, 2023 15 Minutes.
A no-trade day for me as expected.
Considering the rise of 451.96 to 456.38
SPY
is now near 9,21,50 and 100 averages. I expect the 100 to be broken today for a target of 453 levels which is approximately 200 averages.
In these movements, indicators cannot give a clue. Pure price action is to be followed.
If you see in 60 minutes chart. It is very clear. The villain bars fall from 455.12 to 451.96 and rise from 452.89 to 456.38, being huge red bars. That area is now getting sorted out.
No trade today.