$SPY February 10, 2025

SPY February 10, 2025

15 Minutes

For the rise 595.99 to 608.13 SPY retraced 61.8%. So, 601-602 is a good level to go long with SL 598.
Since the retracement was 61.8% double top is possible around 607-608 levels.

So looks good R:R ratio.

Foe the fall 6018.13 to 600.65 need to cross 605.5 for uptrend.

Hence 601-602 buy will have a target 604-605 levels.

But SPY at the moment is below moving averages with 200 and 50 being around 603 to 604 levels which i expect to be resisted.

Hence no trade today.