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$SPY October 29, 2024AMEX:SPY October 29, 2024 15 Minutes For the fall 586.12 to 574.41 AMEX:SPY retraced 78%. Hence, I expect only a double bottom for this move. For the rise 574.41 to 584.46 AMEX:SPY retraced 61.8%. So, holding 576 uptrends to continue. In 60 minutes 575-576 is 200 averages. So, the shorts initiated yesterday will be covered at 579. If I get a lower. I am lucky. SL at 582 for a zero trade. At the moment I expect 579 or 575 to provide a good support. Long is still above 585 only. I am usually negative bias as long as AMEX:SPY is below moving averages especially 200 or 100 in 15 minutes.
AMEX:SPYShort
by RiderTrader
1
SPY Pullback: Time to Consider New Swing Long Positions!While AMEX:SPY remains in a strong uptrend, today’s 0.5% decline offers a healthy retracement for swing traders looking to enter long positions at more favorable levels. I don’t expect this pullback to last long or be of significant magnitude, but the short-term weakness is evident, creating an attractive window to buy into the trend. Watch for upcoming signals, as this dip could present a fresh opportunity for the next upward move. The technicals support this outlook: Relative Strength Index (RSI): 63.85 (Neutral), indicating the market isn’t oversold yet, leaving room for more downside before a potential rebound. MACD Level: 5.77 (Buy), signaling positive momentum and supporting the overall bullish trend. Momentum (10): 12.81 (Buy), confirming underlying strength in the uptrend. Exponential Moving Averages (10, 20, 50, 100, 200): All in “Buy” territory, reinforcing that the uptrend remains intact despite today’s pullback. However, Stochastic %K (90.36) and Commodity Channel Index (192.15) point to potential short-term exhaustion, suggesting this is a brief pause before the next leg higher. Swing traders should stay alert for a better entry point at any moment. Action: Stay tuned for a buying opportunity and follow me to see when I make my next move into the trend! Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Trading involves risks, and you should only invest what you can afford to lose. Always do your own research and consult with a financial advisor before making investment decisions.
AMEX:SPY
by CF_444
Top 5 Weekly Trade Ideas #2 - SPY LongJust a 15m chart here but I think it's important for action early this week. Futures are up overnight so far so if that holds I'll be looking for SPY to open around or above $580.86. If it can open above, will be looking for longs on a retest in addition to potential support on the trendline below at the same time. That'd be ideal, but if it can't reclaim $580.86 early on this week I'd expect a move back down to $575. That could be a good long if it holds or a potential short on a retest if it breaks below.
AMEX:SPYLong
by AdvancedPlays
3
Weekly GEX levels of QQQNASDAQ:QQQ began the week in positive territory at Monday’s open, with the current gamma profile projecting positive momentum through Friday as the price is positioned above the HVL level (496). Notably, below this HVL level is a substantial "vacuum" area, so if the High Volatility Level (496) fails to hold, we could quickly see a drop to 485, where Gamma Walls provide PUT resistance at 485, 482.5, and 480. Key levels to note are: Highest Call Wall / Call Resistance (500): This level, with the highest positive Net GEX value, may act as a significant resistance. Price momentum may slow upon reaching this level, as positive gamma stabilizes the movement. However, if it breaks through, 505 and then 510 could come into play. 2nd Highest Call Wall (510) and 3rd Highest Call Wall (505): These additional resistance levels could present further obstacles as QQQ’s price moves up, both showing high positive gamma activity that may limit upward momentum. PUT Gamma Wall / Put Support (480): This is the most important support level, where negative gamma presence may buffer price drops. However, if this level is breached downward, declines could accelerate. 2nd Put Wall (485) and 3rd Put Wall (482) : These levels may serve as additional support points, providing buffers in case of further price declines.
NASDAQ:QQQ
by TanukiTrade
Investment-Grade Debt vs. Treasuries and Stock Market ImplicatioIntroduction: The ratio between investment-grade corporate debt (LQD) and 3-7 Year Treasuries (IEI) serves as a key measure of market liquidity, carrying important implications for the stock market. When this LQD-to-IEI ratio rises, it indicates stronger market liquidity, typically reducing the risk of a stock market downturn. Monitoring this ratio can provide early signals on the market’s broader risk environment. Analysis: Liquidity Signal: A rising LQD-to-IEI ratio reflects improved liquidity conditions, which can offer a more favorable environment for stocks by reducing systemic risk and easing funding conditions. Technical Pattern: Currently, the LQD-to-IEI ratio is approaching a potential breakout from a rounding bottom formation, which is a bullish pattern. A confirmed breakout, possibly supported by recent Federal Reserve liquidity measures, would strengthen the case for a continued stock market uptrend. Market Implications: A breakout in this ratio would indicate robust liquidity, offering a supportive backdrop for stock gains. Strong liquidity tends to encourage investment in equities, as it alleviates funding pressures and risk concerns. Conclusion: The LQD-to-IEI ratio offers a vital signal of market liquidity, with a potential breakout from its rounding bottom pattern indicating a bullish scenario for equities. If liquidity conditions remain strong, stocks could see continued support, reducing the chances of a market crash. Do you agree with this outlook on liquidity’s impact on stocks? Share your perspective below! Charts: (Include relevant charts showing the LQD-to-IEI ratio, the rounding bottom formation, and breakout potential) Tags: #Liquidity #CorporateDebt #Treasuries #StockMarket #LQD #IEI #TechnicalPatterns
AMEX:LQD
by Richtv_official
Analyzing Sector Dynamics and Momentum ShiftsIntroduction: The performance ratio between the communications sector (XLC) and the technology sector (XLK) highlights two of the market's leading sectors, both of which feature overlapping companies. While XLC has been a strong performer for much of the year, it has recently shown signs of weakness, even lagging behind traditionally defensive sectors like utilities. Historically, technology has maintained more consistent strength compared to communications. Analysis: Sector Comparison: The XLC-to-XLK ratio helps gauge the relative momentum between these two sectors. Recent weakness in XLC, paired with XLK’s historical stability, suggests a shift in relative strength back toward technology. Rectangle Pattern: Currently, the XLC-to-XLK ratio displays a rectangle formation, which hints at a potential continuation of the downtrend should the ratio break below the rectangle’s lower trendline. This pattern could indicate that XLC’s outperformance may have peaked for now. Momentum Shift: Although XLC has shown some recent underperformance, any shift in momentum away from communications is likely to be gradual rather than abrupt, given the current technical setup. Conclusion: The relative performance of XLC and XLK is crucial for understanding current sector dynamics and where momentum may be shifting. While technology remains robust, the recent pattern in the XLC-to-XLK ratio suggests a possible weakening in communications. Traders should watch for a break below the rectangle pattern to confirm a continuation of the downtrend. What’s your view on the XLC-to-XLK relationship? Share your thoughts below! Charts: (Include relevant charts showing the XLC-to-XLK ratio, the rectangle formation, and the potential breakout areas) Tags: #Communications #Technology #SectorAnalysis #XLC #XLK #TechnicalPatterns
AMEX:XLC
by Richtv_official
Just a thought This chart showcases a symmetrical triangle pattern formed after an uptrend, indicating a potential continuation pattern. Here’s a breakdown of the key components visible: Symmetrical Triangle Pattern: The price is consolidating within two converging trendlines. This pattern suggests indecision between buyers and sellers, and it often resolves with a breakout. Given that this pattern formed after an uptrend, there’s a higher probability of an upward breakout, though a downward move is also possible if market sentiment shifts. Moving Averages: The chart shows three different moving averages (TEMA), providing insights into trend direction. The moving averages are currently positioned close together, suggesting the asset is at a crucial decision point. A breakout above or below the triangle could lead to a strong directional move, depending on where the price closes relative to these averages. MACD Indicator: The MACD histogram shows signs of slight bearish momentum, with the MACD line below the signal line. However, the indicator appears to be in a neutral range, meaning a breakout from the triangle could trigger a shift in momentum. Watch for the MACD to cross above or below the signal line, as this will provide further confirmation of the trend direction. Cycle Indicators: The chart includes green arcs that seem to denote cyclical points, with a possible upward cycle ending around early November. This could imply a potential breakout timeframe. Key Levels: If a breakout occurs: Upside: A breakout above the upper trendline would signal a continuation of the previous uptrend, with potential resistance at recent highs. Downside: A breakdown below the lower trendline could indicate a reversal or retracement, with support at previous lows and moving average levels. Timing: The dotted red vertical line marks an upcoming date (November 5), potentially indicating an important decision point for the asset. Summary This setup suggests a possible breakout around early November. An upward breakout could indicate a continuation of the previous trend, while a breakdown would signal caution. Monitoring the MACD, moving averages, and price action around these trendlines will provide more clarity on the next directional move.
AMEX:SPY
by JerryDaniel
1
SPY/QQQ Plan Your Trade For 10-28 : Top Resistance PatternToday's SPY Cycle Pattern is a Top Resistance pattern in Countertrend mode. I believe this pattern will represent a moderate early topping price action in the SPY/QQQ - resolving slightly to the downside, then rolling into an upward price trend near the end of the day. The reason I believe this to be the case is because of two factors. A. The Countertrend mode suggests the top will actually be a moderate bottom in price (a pullback resolving as a base/bottom). B. The continued bias for the markets is slightly upward, thus I believe the SPY/QQQ will attempt to reach new intermediate ATHs before we start to move into the pre-election downtrend. Gold and Silver will struggle today as both appear to be consolidating in a FLAGGING formation. Bitcoin is still consolidating in the Phase #3 sideways consolidation pattern of the Excess Phase Peak pattern. Everything is playing out generally very well aligned to my research and cycle patterns. Last week I warned that market price would likely be very difficult in comparison to my SPY Cycle Patterns and that traders should begin to move to protect capital. This week is the last week you have for any upside opportunities. You need to plan to protect capital (if you plan to) before the pre-election correction. I believe skilled traders will be able to move back into the strongest sectors at a 5.5 to 8.5%+ pullback just after the elections. That is a smart move if you can pull it off. Also, don't hold any Gold/Silver futures contracts through the 2-3+ days around the election day. Volatility will be EXTREME and unless you can take the lumps (margin calls), I don't advise anyone trying to trade metals on November 5-6. If you do, get in and get out QUICKLY. Here we go... Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
S&P sellers kick in, but the market remains strongLast week was marked by some selling activity. As anticipated, sellers took advantage of temporary bullish exhaustion and attempted to push the market down. A strong sell-off occurred on Wednesday, with the market losing 1.2%. However, this sharp decline did not see much follow-through, as the price found strong support at the top of the previous consolidation zone ( 574.7 ). On Friday, buyers even attempted to set a new daily high, but they were unable to maintain it through the close. All of this leads me to believe that the sellers are not particularly strong, and we remain in a broadly bullish environment. A few key points supporting this bullish outlook include: 1. The weekly uptrend is still intact, and there is ample room for this weekly higher low. 2. There is relative strength in "risk-on" sectors (XLK, XLY), suggesting that bullish sentiment hasn't completely faded. While we might see some short-term rotation within the 584.5–574.4 range, defined by two daily candle wicks (Wednesday and Friday), the long-term outlook remains decidedly bullish. This week, important economic data will be released, along with earnings reports from major tech companies. This is likely to cause increased volatility, but unless there are major negative surprises, bullish sentiment should remain solid.
AMEX:SPYLong
by hermes_trisme
Portfolio diversification - 5-10% in GoldWe can see from the long term monthly chart that it took more than a decade for the prices to go from low of 98 to 184 before it finally broke out in March this year. The price has been rallying non-stop thus far and I believe we have yet to see the peak yet. Some investors like physical gold while others prefer digital gold. I am of the opinion that central banks worldwide has jumped on the bandwagon of printing money to sustain their own economy. China is now on this mission to shore up its weakening economy and US is definitely going to print more. More debts mean more interest for the government to pay off which will weaken the reputation of US dollars over time. When enough people feel US dollar is weakening (as it is now), then they would want a safe haven to park their money. Gold for centuries has been labelled as a safe haven to hedge against inflation. One must have a longer time frame to invest in this alternative asset and not expect to make quick returns in a year or two. Central banks worldwide have shore up more gold than before , just google it. With pull backs , I would want to accumulate more.
AMEX:GLDLong
by dchua1969
SPY Technical Analysis Oct. 28, 2024Detailed Support and Resistance Levels Support Levels: 574.36: This is a crucial support level. If SPY stays above this level, it may serve as a solid base. If it breaks below, expect further downward pressure. 571.35: This is the next key support level. A break below this could indicate a stronger downtrend, potentially bringing SPY down to lower price ranges. Resistance Levels: 577.75: This is the immediate resistance SPY would need to break to regain bullish momentum. If SPY can close above this level, it could show buyers are stepping in. 579.24: This level will be a strong resistance point if SPY attempts to break upward. A successful close above this would suggest a short-term reversal. 581.16: If SPY breaks through previous resistance levels and trades above this one, it may confirm a reversal and could serve as a potential exit for bullish positions. Entry and Exit Points Bullish Scenario (if SPY breaks resistance): Entry: Consider entering a long position around 578 if SPY breaks above 577.75 with strong buying volume. Exit: Set an initial profit target at 581 (near the next resistance), with a potential higher exit target at 585 if momentum continues upward. Stop Loss: Place a stop loss slightly below the 577.75 resistance (around 576) to limit downside risk. Bearish Scenario (if SPY breaks support): Entry: Consider entering a short position around 574 if SPY breaks below 574.36 with strong selling volume. Exit: Set an initial target at 571 for a quick scalp. If SPY moves further down, consider a final target near 568. Stop Loss: Place a stop loss slightly above 574.36 (around 575.5) to prevent excessive losses in case of a quick rebound. Neutral Scenario (Range-bound play): If SPY remains between 574.36 and 577.75, it may be suitable for quick, range-bound trades. Buy near support (574.36) and sell near resistance (577.75) with tight stops to manage risk. Summary Strategy Bullish bias: Enter around 578, targeting 581 or 585. Bearish bias: Enter around 574, targeting 571 or 568. Range-bound play: Trade between 574.36 and 577.75 for quick scalps if no breakout occurs. Disclaimer: This analysis is for informational purposes only and is not financial advice. Market conditions are volatile, and trading involves risk. Always consult with a financial advisor before making any trades.
AMEX:SPY
by BullBearInsights