Elliot Wave Theory Suggests a Pullback Will HappenI know the election and FOMC trumps technical analysis but I wanted to put this chart out. Please critique the chart and let me know what you think
ETF market
MZNETF UpdatedUpdated target for MZNETF fund, buy low and sell high because it is consist of mostly blue chip stock of PSX
SPY Bull/Bear Options Trade After ElectionsAMEX:SPY
SPY Options
Range: $571-$568
Long-term tend suport down the middle.
We are sitting and waiting until elections are over. Here are our weekly options:
$572 Call 2-3 Week expiration
Entry: Confirmation over $572 (15-30 minutes close OVER)
Targets:$575, $580
$570 Puts 2-3 Week Expiration
Confirmation Under $572 (15-30 minutes close UNDER)
$572, $568, $563
SPY with Fib levels.**Three major drops in 2024 were roughly 5.9%, 9.7%, and 4.3%. The current drop is 3.1% so far.
** Price should’t go below $537—if it does, that would be a lower low, signaling a trend change.
** I drew Fibonacci retracement from $537 to the recent high of $586. We’ve already seen a 38% retracement at $567, with the next levels at 50% ($562) and 61% ($556).
** Price may fund support at either of these three levels - 38%, 60%, or 61% retracement.
SPY/QQQ Plan Your Trade For 11-5 : Election DayThis video highlights what I believe is likely to happen today and into tonight (when the real news will hit). Additionally, I continue to warn that a price anomaly is very likely starting sometime after November 10.
Ultimately, the markets will struggle throughout the rest of the week, likely becoming a bit more volatile after the election.
I do believe the markets will move into the price anomaly event near November 10th and that event will likely transition into a big opportunity for traders sometime after November 15-18.
My ADL predictive modeling system is showing this anomaly event is highly likely in certain sectors.
Overall, I suggest traders continue to trade small allocation levels today as we get past "election day". The bigger opportunities come over the next 3 to 6+ months.
Today is not the day to be a hero. Today is the day to sit back, maybe target a few decent trades, and wait for the dust to settle.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Morning Overview: Election EditionGood morning everybody. No matter who you are voting for, it is important to put your beliefs aside when trading in the markets. Each candidate has an outcome on the market if they win and while that is more macro trading we still need understand how that effects our technical.
$SPY November 5, 2024AMEX:SPY November 5, 2024
15 Minutes.
For the extension from 539 to 575 to 565 AMEX:SPY made 61.8% of the move at 586 levels.
For the fall 583.32 to 568.44 it retraced 50% to 575.5 levels.
Now we have a sideways in box range between 575 to 567.
Bias id down as AMEX:SPY below all moving averages.
The positive side we have is for the lows 568.44 and 567.86 in 15 minutes we have oscillator divergence.
Therefore, if I take the rise 539.95 to 586.12, I expect first target to be 563 being 50% of retracement for the move.
Bias is towards short side.
Technical Analysis for SPY (1-Hour Chart) for Nov. 6, 2024Price Action Overview
SPY has been in a descending channel, reflecting a recent downtrend. The chart shows lower highs and lower lows, indicating bearish sentiment, with price bouncing between the parallel channel lines. SPY is currently trading near the $568-$569 level, a minor support area where it might find temporary stability. Volume has been gradually decreasing, suggesting that sellers could be weakening, which might pave the way for a potential rebound or consolidation phase tomorrow.
Key Levels to Watch
Resistance Levels:
$575.55: Immediate resistance, near the upper trend line of the descending channel. A break above could indicate a bullish reversal.
$583.29: Higher resistance, where stronger selling pressure could emerge.
Support Levels:
$568.35: Current support. If SPY holds here, it may present a buying opportunity for scalpers looking to trade a bounce.
$563.66: Major support at the channel's lower boundary. A break below this could trigger further selling pressure.
Entry & Exit Points
Long Entry: If SPY holds above $568 and shows signs of bullish momentum, consider an entry near $569-$570. Look for quick exits around the resistance of $575 for a scalp.
Short Entry: If SPY fails to break above $575 and reverses, a short position around $573 with a target at $568 could be profitable. A break below $568 may signal further downside, targeting $563.
Directional Bias
Given the downtrend, the initial bias remains bearish, especially if SPY continues to respect the descending channel. However, if buyers gain control at $568, SPY could see a brief intraday rally towards $575. Traders should watch for price behavior at key levels to determine the direction.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Trade responsibly and manage your risk effectively.
SLV eyes on $29.48: first/best of 3 possible supports for longsThis is in conjunction with my big picture Silver chart (click).
SLV has had a significant pullback that may be done.
Ended last week dancing on a pretty serious support.
Ideally this is bottom, or should at least bounce a bit.
$ 29.37 - 29.48 is the immediate and best support
$ 28.83 - 28.89 is the next and moderate support.
$ 28.37 - 28.40 should be strong and is CRITICAL.
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$SPY #IslandBoy #ComingSoon like $PLTR $TSLA $VFCCrystal ball telling me AMEX:SPY is gonna leave put buyer's stuck on an island in the coming weeks/months.
Higher Lows + Higher Highs = Uptrend intact
I always mention "Shakeout B4 Breakouts"
AMEX:SPY wedge + Election = WallofWorry/Fear (Buy when...?)
Tomorrow could be filled with more "fear" perhaps a vol spike, but I expect/hope for AMEX:SPY to hold this gap down range then Gap up Thorsday and put up a strong gap + hammer candle...
- Prophecies
PS; If looking for recent #Island examples check tickers in title. All recently putting up "Island Reversals" after earnings...
Election = Spy "Earnings"
SPY LONGwas expecting more weakness today then we got looks like we got a double bottom right around $567.80. going to try to enter close as i can to there with longs into the end of the week for FOMC rate cuts $580 calls will do perfect. Plan to trim a 3/4 as the event happens and let the other 1/4 ride for the next day
NVDA (NVDL) BIG MOVE BREWING, BUY THE DIP! 100%+ MOVE INBOUNDNASDAQ:NVDA NASDAQ:NVDL
BIG MOVE BREWING, BUY THE DIP! 100%+ MOVE INBOUND
In this video, we discuss the following:
1.) My #HIGHFIVESETUP trading strategy which incorporates charting patterns, volume profiles, MACD, RSI, and TREND.
Notable recent winners with my strategies include NASDAQ:TSLA NASDAQ:SOFI NASDAQ:MBLY NASDAQ:AMZN NYSE:HIMS
2.) Go in-depth on how to tell when an investment or trade will go against you and what you should be looking for. We go over my favorite indicator for this, which is the Williams R%.
We primarily discuss the 2X levered ETF NASDAQ:NVDL which has the same setup as it's parent NASDAQ:NVDA . So feel free to use this setup for either one depending on your risk tolerance.
Thanks for all the support! Over 500 TV followers in such a short period of time, you all are amazing!
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NFA
Daily Chart, H&S leading to future upward trend.On my ever-so sophisticated daily chart (draft w/crayons) Im looking at a potential H&S completion this week before finding support in the 560-555 range. After, opportunity exists for a Santa Rally and continued positive momentum through January toward next resistance levels.
Bear Camp - I think we're on an IslandI think we're on an Island. I anticipate we fill the upper gap, and then gap down from there or shortly after.
I'm going to start positioning at the gap levels far out and leg in upon trend confirmation.
Best of luck.
Market Volatility Ahead - Election + FOMC PreviewThere's a lot going on this week with the election and FOMC among other things. Here are some key levels I'll be watching and what I expect to be influenced the most.
Spy short term berishnessSpy temporary bearish scenario retracement to value gap to grab liquidity and test lows . ghost feed for reference. betting on the uncertainty of the elections and the overall height of the market a correction should be in the works
$SPY intraday chart Double-Bottom?Markets have been shaky these past few sessions—a reasonable pullback after a long uptrend. The intraday AMEX:SPY chart shows a double-bottom pattern, but it won’t confirm unless it breaks above $575. Personally, I’m waiting (and hoping) for AMEX:SPY to dip to around $565.50 before looking to go long again. 🚀👌
SPY GROWTH AHEAD|LONG|
✅SPY will soon retest a key support level of 564$
So I think that the etf will make a rebound
And go up to retest the supply level above at 580$
LONG🚀
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SILVER LONGAccumulating calls as long as we are under 30.25. $32 Target, on the macro it looks like we are hunting $37 area at some point.
SPY Short Term Support TestI wouldn't say this is the most important level for SPY, but it seems pretty significant for the rest of the session. I'd be wary of chop around this level, but it could make for a good long or short if it can move off of it a good amount.
Short term upside target = $575
Short term downside target = $565
If it can hold here I'd consider it rangebound between $568 - $575
Lost $100 On SPY TodayI Simply should have not traded today this was not an A+ Setup and we were not in my zones
Expired GLD Weekly outlook. 5th WK OCT 2024Expired GLD Weekly outlook. 5th WK OCT 2024
> BULLISH 📈 HIT
Prior Week Closed Price: 253.32
This Week Target Price: 254
Strike Price: 257.71 on OCT 30, 2024
Upper Range: 258.17
Lower Range: 250.97
TLT - head and sholdersThe iShares 20+ Year Treasury Bond ETF (TLT) is experiencing downward pressure, and a head and shoulders pattern in its technical chart suggests further potential declines. This formation, indicating a shift from an uptrend to a downtrend, is being reinforced by several factors:
1. **Rising Treasury Yields**: Higher yields, especially on 10-year Treasury bonds, reduce the appeal of long-duration bonds, causing TLT's value to drop as yields increase.
2. **Strong Economic Data**: Robust economic indicators, including strong GDP growth and low unemployment, have heightened expectations of future rate hikes by the Federal Reserve, which dampens long-term bond prices.
3. **Political Developments**: Potential spending cuts or fiscal adjustments under a changing administration are influencing market dynamics, contributing to the rise in yields and the downward trend in TLT.
This combination of technical patterns, economic conditions, and political considerations supports a bearish outlook for TLT, which could benefit short positions in the near term.
