SPY
December20, 2023 15 Minutes.
Price action in play. keeping SL 471.5 levels we continue the long.
100 averages have started to flat out near 472 in the last 2 hours of trading.
Taking the rise from 471.95 to 474.92 uptrend is strong as long as 473 is held, which also happens to be a 50 moving average.
In the 15-minute frame
SPY
weak below 471.8 levels. Once again
SPY
made a high with divergence in the Elliot oscillator and a weak CCI. The expected pullback is not happening so we ride following the trend.
SPY
has strong support around 468 levels being 200 on average.