SPY trade ideas
SPY ABOVE 564.00 ATH?SPY on 4HR still in range but closing outside of 564.00 we will see ATH. I think we can see 170.
Happy Labor day SPY Lovers ! (4hr Chart Analysis)This is our 4-hour chart, and as you can see, I am linking it with the daily chart I published earlier.
What I want you to notice is the number of orders positioned at 544.58. We must take into account that on our daily chart, this is the second time the price has activated the institutional order block, and there was no intention of a breakout; it was simply rejected as we predicted last week.
The price on the 4-hour chart has only moved within a range and hasn't been able to surpass all-time highs yet. Looking at the chart, it gives me the impression that it might reject again.
No one knows what will happen; this is an analysis based on historical movements, price action, and smart money concepts.
Let’s see what Tuesday brings, but for now, enjoy your Labor Day!
Cheers, and thank you for supporting my analysis.
Hey SPY LOVERS ! Happy Labor Day ! (Daily Chart Analysis) There really isn't much to see here. The entire week we were simply in a broad range. The price activated the institutional order block for the first time and made its natural rejection, as we mentioned in the previous analysis, showing liquidity for several days. However, the price regained strength to return to the institutional order block once again.
There are 2 things I can identify on this chart:
1- The price, volume, and strength to return to the order block.
2- On a 4-hour chart, the price is showing a lot of orders positioned to the downside, which makes me think that the price might not have the strength or volume it's looking for to break the institutional order block and surpass the ALL TIME HIGH.
In conclusion, we have to wait for the market to open tomorrow, as today, being "Labor Day," there was no session
I will publish my 4-hour chart and link it with this one so you can see the number of orders positioned around 544.58.
Let's see how it goes when the market opens on Tuesday.
S&P recovers; bulls maintain long-term controlThe last week of August was sluggish, despite several exciting events. First, NVDA’s earnings, although very strong, failed to boost the market beyond its daily trading range. The GDP and inflation data (positive) released later also didn’t provide sufficient momentum, and the market continued to bracket. The week closed at the high, but buyers didn’t manage to break out of the trading range and confirm control of the daily timeframe. We can conclude that the market has reached a temporary balance—both bulls and bears seem content with the current price and lack the conviction to initiate strong moves.
Zooming out to the monthly view, August closed green, near the historical high. The long lower wick signifies a bullish rally that brought the price up from the low, indicating the strength and conviction of the bulls. Although the bulls didn’t manage to achieve a new high, they still maintain long-term control.
Overall, the market is still in a monthly and weekly uptrend. Even if sellers manage to set a weekly lower high in September, it is unlikely to mark the start of a trend reversal. Buyers have created enough space for potential weekly consolidation that will not threaten their long-term control.
Important levels:
Last major weekly trend high (565). If buyers manage to move above and hold they will confirm continuation of monthly uptrend.
Last major weekly trend low (510). Buyers must protect this level if they want to keep long term control
Short Term Trading range (555-564). Breaking out from the range in either direction will mark gaining of a short-term control.
$SPY August 9, 2024AMEX:SPY August 9, 2024
15 Minutes.
Short was wrong. I was concentrating on Diversion. Missed the fact that my stochastic green bar line was on top. Meaning it was bought on pullback.
So, trade was closed.
I will consider the last rise 557.1 to 564.20. Will enter at retracement 560 levels for long.
But first hurdle is 565.
SPY: Weak Market & Bearish Forecast
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current SPY chart which, if analyzed properly, clearly points in the downward direction.
❤️ Please, support our work with like & comment! ❤️
My idea for spy going into next week AMEX:SPY
I don’t see this holding the highs we could revisit 560 area if we hold this area we could go higher if we lose this 560 area we go lower 555 area.
Ps not financial advise. Trade safe.
SPY shows signs of breakthough to the upsideSPY recent day of trading gave an overall picture that this flat trading is coming to close with a potential rally coming.
Gapped up for second time in the 2 days
Sold off slowly with low volume
The rally in late day spurred by smart money with increasing volume
Stock breaks through upper resistance for first time
SPY is showing a strong bullish signal indicating a longer term rally to come
SPY The Target Is DOWN! SELL!
My dear subscribers,
My technical analysis for SPY is below:
The price is coiling around a solid key level - 563.59
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 561.46
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
SPY shows more interest in rallying than beforeSPY is starting to show more signs that a breakout above the flat trading its in is coming
We see increased volume over peaks of previous rallies indicating agreement with pushing up prices
RSI's SMA starts to break through the 50 line
comparing to the QQQ, its experiences another false breakout above for the second day in a row. Showing the tech sector is attempting to turn around to the upside
SPY continues to still trade flat but show more confidence in its small rallies than previously
Opening (IRA): SPY August 30th 486 Covered Call... for a 481.76 debit.
Comments: Re-upping in SPY in slightly longer duration, but with the short call at about the same delta as the one I took off, resulting in a lower buying power effect and break even with the primary goal being to milk a little more out of August before moving onto Sept.
Again, un-sexy metrics as a standalone trade:
Buying Power Effect/Break Even: 481.76
Max Profit: 4.24
ROC at Max: .880%
50% Max: 2.12
ROC at 50% Max: .440%
SPY Before the Long Weekend. 8/30/24Chart Overview:
Time Frame: 1-hour chart
Indicators: Price levels, trendlines, and RSI (Relative Strength Index)
Key Levels:
Resistance Levels:
563.91: This appears to be a key resistance level that SPY has tested multiple times without breaking above.
563.64: Close to the previous resistance, this area seems to be another strong resistance zone.
Support Levels:
562.19: This level is currently providing support, as shown by the recent price action bouncing off this zone.
557.24 - 558.00: This zone represents a stronger support area, with multiple touches indicating a solid foundation.
553.47 - 553.41: The lowest support zone on the chart, a critical level for the bulls to hold.
Trendlines:
Ascending Trendline: There is an upward trendline starting from the lows, indicating a bullish trend. The price is currently respecting this trendline, which is crucial for the continuation of the uptrend.
Wedge Formation: The price action is forming a wedge, with the upper boundary at the resistance level and the lower boundary along the ascending trendline. Wedge formations usually indicate potential breakout scenarios, either to the upside or downside.
Possible Scenarios:
Bullish Scenario:
If the price breaks above the resistance at 563.91, we could see a continuation towards the next resistance level, potentially around 570.00 (as indicated by the upper trendline).
The ascending trendline support should hold for this scenario to play out. If the price continues to respect this line, it’s a strong sign of bullish momentum.
Bearish Scenario:
If the price fails to break above the resistance and falls below the ascending trendline, it could lead to a decline towards the support zone at 557.24 - 558.00.
A break below this support zone could lead to further downside, targeting the 553.47 - 553.41 area.
RSI Analysis:
The RSI is hovering around the middle range, not indicating an overbought or oversold condition. This neutral position means that the market could swing either way, depending on how the price interacts with the key levels mentioned above.
Strategy:
For Bulls: Watch for a breakout above 563.91 with increased volume to confirm the move. Consider entering on the breakout and setting a stop loss just below the ascending trendline.
For Bears: If the price breaks below the ascending trendline, look for short opportunities with a target around 557.24 - 558.00. A break below this support could provide more downside.
This setup requires careful monitoring of the key levels and price action to determine the next significant move.
$SPY August 30, 2024AMEX:SPY August 30, 2024
15 Minutes.
Shorted yesterday at 560 levels.
Today for the fall 563.68 to 557.18 561 is 61.8% retracement for the fall.
Since AMEX:SPY below all moving averages i will hold the short.
As written for the rise 518.05 to 563.91 I am expecting a 23.6% retracement. We have an oscillator divergence. So only above 564 I will be closing at loss. 4$ loss for 7 % gain. Good R:R at the moment.
Let's see.
Fed’s Preferred Inflation Indicator TomorrowTomorrow’s macroeconomic calendar is set for a major event! 📊
At 8:30 AM Eastern Time, we’ll see the release of the Fed’s preferred inflation indicator: the Personal Consumption Expenditures (PCE) price index. The implied move for PCE is +/- 35 points, with the estimated month-over-month core PCE at 0.2%. 📈
Stay tuned for market reactions and how it could impact the broader indices!
SP:SPX AMEX:SPY NASDAQ:QQQ #Finance #Investing #MarketWatch #EconomicData #Inflation #PCE #Fed #StockMarket #FinancialNews
SPY holds steady while QQQ sells offDuring the past week, SPY and QQQ have diverged in their paths
QQQ slowly and steadily sold off
SPY traded flat during that time
This indicates that the sell off in QQQ was primarily tech driven and did not spread to the rest of the industries
other industries look to be holding stable
SPY retest area creating resistance SPY retest area acting as resistance for now, would not be to surpised if we got a little pull back into next week (540 area) to start to consoldate this 50 point run up
$SPY August 29, 2024AMEX:SPY August 29, 2024
15 Minutes.
AMEX:SPY made a low 555-556 levels once 558 was broke.
Today for the fall 562.05 to 555.04 559-560 is a good level to short as AMEX:SPY made LL without any divergence.
555-556 should give strong support.
The next level to watch is 553.
SPY/QQQ Plan Your Trade For 8-29 - Breakaway in Carryover ModeToday's pattern should play out as a reversion to yesterday's selling pressure.
I did not expect to see the markets sell downward as hard as they did yesterday, but my systems were able to catch the downward trend well.
As a trader and a researcher, I try to base my expectations on what I believe to be the highest probable outcome. Yet, sometimes I'm wrong.
I've mentioned this before, and I'll probably say it again and again...
Traders must be capable of adapting to the charts. Play what is in front of you. My SPY Cycle Patterns offer assistance in what may happen based on Fibonacci/Gann price characteristics. Yet, news items (or positioning ahead of NVDA earnings) can drive market trends in unique directions.
We must understand that big news events/earnings/data can alter price trends away from the SPY Cycle Pattern triggers, and we have to be able to play the chart in front of us.
So we adapt to what the chart is telling us - always.
Remember, Fibonacci Price Theory was very clear yesterday after the first breakdown in price - this trend is BEARISH.
Watch this video. Gold is getting ready to make a move up to 2593+ and Silver wants to follow up to about $31. But Silver will lag Gold a bit - so position yourself correctly.
Bitcoin will stay range-bound over the next 5-7+ trading days - trying to run out time on the Flag Apex. Then, it should make a bigger move to the upside.
Get some.
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SPY: EOW Update And end of week (EOW) overdue update since things are now interesting again!
Just my thoughts, not advice.
As always, safe trades!
SPY next downside targetsSPY rejected the trendline today with a strong flush down. Next downside targets indicated. This analysis is for informational purposes only.
SPY 2-Hour Chart Analysis - August 28, 2024Double Trouble is the name of the game here, and it’s no joke. As you can see SPY just dipped below a critical support level, and things could get tricky if buyers don’t step in soon.
What’s Happening?
SPY has been bouncing around within a tight range for the past few days, but today’s action saw it break below the 554.93 support level (highlighted by the yellow dashed line). This level has been key in holding the price up, and now that it’s breached, we could be in for a rough ride.
Why Double Trouble?
Here I am referring to the fact that SPY is now stuck between two crucial zones: the broken support around 554.93 and the next significant support level down near 551.00. If the price falls to this lower support, we could see even more downward pressure, potentially leading to a deeper sell-off.
Key Levels to Watch:
Resistance: Look for potential resistance to form around the 554.93 level now that it’s broken. If SPY can reclaim this level, it might signal a reversal, but if not, the bears could stay in control.
Support: The next big support is down near 551.00. If SPY continues to fall, this is the level that needs to hold to prevent further losses.
What’s Next?
We’re at a pivotal point. A break back above 554.93 could give bulls a lifeline, but if SPY continues to slide, the 551.00 level will be the last line of support before more significant downside risk comes into play.
Stay cautious and keep an eye on these critical levels as we head into the next trading sessions. I am starting to believe that market is in a delicate position, and how it reacts here will set the tone for the days to come.
SPY TOP IS IN, MOVE BACK DOWN TO $400s incomingSPY is in the area of EXTREME Resistance...... We are at a level of a 2008 swing right now. we are CLEARLY extended. I am shorting now.
