SPY Chart Analysis

• SPY Hour chart shown with fibonacci levels.
• Price is stuck between 38.2% and 50 % Fib levels. Bears has to break below 50% Fib level to extend correction. Above 38.2% We may see an intraday Up move.
• Four hour chart shown with 200 Period SMA. Price is holding above this level. If price closes below this level we may see deep cut in SPY.