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RiderTrader

$SPY November 1, 2023.

Long
SPDR S&P 500 ETF TRUST (BATS:SPY)  
RiderTrader  
BATS:SPY   SPDR S&P 500 ETF TRUST
Fibonacci Oscillators Moving Averages
2
0
fibonacci oscillator movingaverage


15 Minutes.

Holding the low SPY achieved the 418 target as expected.
At the moment SPY is above all moving averages.

Wave 3 is in progress considering the length of the oscillator 5,35 green bars.

However as can be seen it is getting tired.
The price is getting higher but the oscillator is creating a divergence.

Now I expect a retracement to 415-416 levels and then 421-422 levels initially.

We have 200 sloping downwards, the rest moving upwards. So if we can get a convergence today tomorrow could be a good one-sided move.

If you see hourly Fibs and 200 averages daily, 424 becomes important.

So today I have a range between 415-416 to 421-422 levels.

I have not done any trade for the week.


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