$SPY August 5, 2024

5 авг.SPY August 5, 2024

Levels broken.

We have to take from two lows,
409 and 493

500-502 is 200 average in daily.

Today premarket has broken 61.8% levels of 494 - 565 rise.

If we take the low from 409 then 38.2% retracement for the move 409 to 565 is 505 levels.

That will be 10% correction and probably 200 average supports.

Have to see if it holds.

Since the move started from 490 levels i will be worried only if 490 is broken.