SPY 4H – Broke the Fib… Now What? Just Sharing What I See

Hey People,
not an expert, just showing what i’m seeing on the 4H chart 👇

🧭 quick breakdown:

SPY ran up to around 639, then started dumping.
i dropped a fib from top to bottom and it hit the 61.8% level (626.66)… then lost it.

right now we’re sitting around 621, so it already broke a big level.

🧠 what that might mean:

• if price gets back above 626, maybe we bounce back toward **629**
  
• if not, and it keeps chilling under that **50 EMA (around 624)**, it’s probably still weak
  

nothing confirmed yet, i’m just watching how price moves around those spots.

⚠️ RSi is sketchy too:

rsi is making lower highs, even when price was up; that’s called

bearish divergence

basically means momentum isn’t really behind the move

📉 If it keeps dropping:

if we lose 621, next support might be around **615**
and if that breaks? maybe even **610 gets swept** before any bounce

📝 Just how i’m seeing it rn:

not calling anything, just building my plan out loud
Still learning. open to feedback if you see something different

what levels are you watching?
I want everyone to win. 💛