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SPY trade ideas

$SPY is Spying on You This is a very simple and straightforward technical analysis on AMEX:SPY of price action VS the Moving Averages. A tried, True and Valid method of analysis is knowing when we have become to extended from the moving averages and determining that a return to the mean is appropriate. In the case of the AMEX:SPY , SP:SPX or CAPITALCOM:US500 we are more and more extended by the day. For comparison I have included an image from the Dot Com Bubble Crash when we moved 47% away from the 20 Year Moving Average. Again in 2022 when we moved nearly 32% away from the 20 year moving average. The NDX for reference was almost 75%!!!! Off it's moving average in the Dot Com Bubble. We currently sit at nearly 33% away from the 20 Year Moving Average. To Say we are extended is an overstatement. Things will return to normal. But will we have a spectacular blow off top first?
AMEX:SPYShort
by Midgar-
SPY for Friday (10/11/2024)Price Action: Current Resistance Zone: SPY appears to be hovering around a resistance zone near 577.64 - 577.71. These levels have seen multiple tests but no breakout. The market has consolidated in this region. Support Zones: There's a visible support area at 565.31, marked by a green order block on the chart. The price has previously bounced from this level. Trendline Support: There's a rising trendline suggesting that the overall structure still remains bullish, provided the price continues to respect it. Direction: Bullish Bias: The price is still in an uptrend as it hasn't broken below the trendline support. However, if SPY fails to break above the 577.71 resistance zone, it might pull back toward the trendline or the lower support near 567.50. Bearish Potential: A break below 574.47 could lead to further downside toward 573.34 and potentially lower to the 565.31 area if selling pressure increases. Watch for a confirmation of trendline break or further rejection at resistance. Order Block: Bullish Order Block: The green block area around 567.50 to 565.31 represents an accumulation zone where buyers have previously stepped in, creating a support base. If price retraces to this zone, it's likely to see buying activity again. Bearish Order Block: If the price fails to break above the 577 region and reverses, it could set up a lower high, pushing it back toward the trendline or the green block. Monitor how price behaves in this resistance zone. Indicators: Volume: Volume seems to be decreasing in the recent rally, which could indicate weakening bullish momentum, especially near resistance. Momentum Oscillators: The oscillators below the chart seem to show volatility spikes, indicating a potential shift in momentum soon. Strategy: For scalping, you may consider shorts near 577.64 with a stop just above 577.71, aiming for a retracement to the order block around 567.50. For long trades, look for a bounce or consolidation at the lower trendline or support block near 565.31 for potential entries. Disclaimer: This technical analysis is based on historical price data and does not guarantee future performance. Always consider external factors, such as macroeconomic data and market conditions, when trading. Risk management is essential to limit potential losses.
AMEX:SPY
by BullBearInsights
SPY 10/10 Trading PLanToday, we opened at 575.77 with a current ATR of 5.80. The range for today will be between 581.57 to 569.97. VIX at 21. Let's see if it wants to continue higher to test 581. I think it may just base here. But if it does climb up to 580 or 581 ill look at price action there and see if I enter a short position. If we come down to 569ish, I look to get into the upside. In the meantime, I'll sit on my hands. I don't think much is going to go on today. Lets see what happens.
AMEX:SPY
by MMOTA_
SPY/QQQ Plan Your Trade For 10-10 : Carryover in Carryover ModeToday's cycle pattern suggests the SPY/QQQ price action will be very similar to yesterday's price action. I believe the markets are starting to move away from the basing/bottoming phase and moving back into trending phase. Thus, I believe the SPY & QQQ will begin a rally up to highs reached before October 20-21, then form a top, and toll downward just before the US elections. Gold needs to find some support and move higher - away from the 2625 price level. It is critical that Gold stay above 2620 at this stage. if Gold falls below 2620 - there is a very strong chance Gold will move into deeper consolidation and fail to rally above the 2750++ level I expect. BTCUSD has already reached my lower support zone. I do expect Bitcoin to consolidate a bit near this lower price channel, but the next move is to either revert higher, or breakdown even further. Currently, I suggest waiting 20 to 48 hours with Bitcoin to let price settle on a new trend. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
2
SPY Multi-Timeframe Analysis: S&P 500 ETF Trust (SPY)1. Weekly Chart: Uptrend Intact: The weekly chart shows that SPY continues to trade within a broader uptrend, consistently making higher highs and higher lows. It has held above its key moving averages, particularly the 50-week moving average (blue) around $515. MACD Momentum: The MACD histogram shows continued positive momentum. This suggests that bullish sentiment remains strong, with no significant reversal signals yet. Key Resistance: We are testing the $577 level, which appears to be a significant resistance zone. If broken, SPY could extend toward new all-time highs. 2. Daily Chart: Testing Resistance: The daily chart provides a clearer view of the immediate resistance at $577. We’ve seen several attempts to break through this level, but so far, the price has been contained below it. Moving Average Support: The 50-day moving average (green) has acted as strong support, currently around $555.80. As long as SPY holds above this, the bulls remain in control. Momentum Indicator: The MACD on the daily chart is trending positive, showing increasing bullish momentum. This signals that a breakout above $577 is likely if this momentum continues. 3. 4-Hour Chart: Bullish Momentum Building: The 4-hour chart shows a series of higher highs and higher lows, indicating the bullish momentum is building. Price has been supported by the 50-period moving average at $564.10. Immediate Resistance: The key level remains $577. A clear break above this resistance level on strong volume could signal further upside, potentially pushing SPY toward the $580-$585 range. MACD Shows Caution: While the MACD remains in the green, it’s showing early signs of slowing momentum on this timeframe. This suggests that a brief consolidation or pullback might occur before a breakout. 4. 30-Minute Chart: Tight Range Formation: On the 30-minute chart, SPY is trading within a tightening range, with support around $572.21 and resistance at $577.11. Key Trendlines: We can observe two converging trendlines (green and red), which often precede a breakout. If SPY breaks above the red trendline (around $577), it could lead to a strong upward move. Conversely, a break below the green trendline would signal a potential retracement. Bullish Outlook: SPY remains in a strong uptrend across multiple timeframes, with positive momentum indicators and key moving averages providing solid support. The next critical level to watch is $577. A sustained break above this could see SPY move toward the $580-$585 range, continuing the bullish trend. Risk of Consolidation: However, there is a risk of short-term consolidation, especially on the lower timeframes, before any major breakout occurs. A drop below $564 on the 4-hour chart or $572 on the 30-minute chart could indicate a deeper pullback.
AMEX:SPYLong
by Deno_Trading
1
SPY for Tomorrow (10/10/2024)Key Levels Support: 572.44: A recent support level indicated on the chart, near the current price range. 565.82 - 565.25: This zone represents a strong demand area, as indicated by the red bars below, which may act as a buffer if price retraces. Resistance: 577.71: This is the most recent high, indicating potential resistance if SPY tries to break upwards again. 580 level: Based on the trend, this could act as psychological resistance as well. Trend Analysis: Shows an upward trend indicated by the diagonal line, but there’s some consolidation happening near resistance. There’s also potential for a pullback to test lower support levels before making another upward move. EMA Lines: Short-term moving averages (like the ones shown) suggest bullish momentum as the price is trending above both EMAs. If price stays above the 573 level, the trend may continue upward. Strategy for Tomorrow: Bullish Scenario: If SPY opens strong and breaks above 577.71, you may look for a quick move toward 580. However, be cautious of any resistance forming at these higher levels. Bearish Scenario: If SPY fails to hold above the 573 level, look for potential support around 572.44 or lower at 565.82, which could provide a good entry point for a reversal. Disclaimer: This analysis is for educational purposes and should not be taken as financial advice. Always perform your own research and consider consulting a professional before making any trading decisions.
AMEX:SPY
by BullBearInsights
$SPY October 10, 2024AMEX:SPY October 10, 2024 15 Minutes. 2 days patience paid off. AMEX:SPY broke 575 made a high 577.06 and retraced back to 575 to make a new high 577.71. So consider the 2 fibs Rise from 574..99 to 577.71. For this holding 575-576 is important. For the fib extension 564.49 to 573.36 to 566.63 (because two LL 566.24 and 565.49 had oscillator divergence) 100% extension was 575 levels. Hence was waiting to cross 575. Now holding 575 which is 38.2% retracement for the rise 566.63 to 577.71 we have a target 578-579 levels. On downside it is important to hold 570 levels as it is 61.8 retracement for the last rise from 566.63 and also 20 averages in 15 minutes. So today I will buy on retrace at 575-576 levels for 579 as target. The small rectangle box drawn is crucial to hold today.
AMEX:SPYLong
by RiderTrader
To chase or not to chase?Those in calls already are sitting nicely. Especially if they have taken out their original money from their profits. They now have a free trade basically. As for us, who have missed the run, the question is should we chase?. I say, don't chase. Wait for a pullback. Or if you wish, buy a small amount. Do not buy 10 far OTM calls, when you could just buy 1 ITM calls. Why?. Because ITM calls have less theta, so if the price goes your way, you can sell immediately for a profit. OTM calls you will not be able to get out, if it doesn't go your way. As for long-term direction, then i don't know. Basically we all messed up not getting in early on the run. Now all that is left is to chase, which is more risky.
AMEX:SPY
by Broketothebone
9
Break or Bust into Fed MinutesThe Federal Open Market Committee (FOMC) meeting held on September 17-18, 2024, concluded with a significant decision to cut the federal funds rate by 50 basis points, bringing it to a range of 4.75% to 5%. This marked the beginning of a new interest rate-cutting cycle, the first since March 2020. In their discussions, FOMC members noted that while economic activity continued to expand, job gains had slowed and unemployment had risen slightly, though it remained low. Inflation showed progress towards the Fed's target of 2%, but was still elevated​. The committee expressed a balance of risks regarding employment and inflation, indicating that they felt confident in this rate cut amid improved inflation data​. The FOMC also projected further rate cuts in the coming months, with expectations for an additional 50 basis point reduction over the next two meetings​. The economic outlook remains uncertain, and members emphasized that they would continue to evaluate incoming data and evolving conditions before making further adjustments​
AMEX:SPY
by FlyingWiener69
SPY 0DTE After yesterday's bullish day, I'm going to sit back today and see what happens. SPY opened up at 573.16 today with a current ATR of 5.72. The upside can go to 578.88, and the downside is 567.44. Still, overall, really just basing here, but it feels like it's losing steam. Can we see 580? Yeah, it's high probability and much more likely. If this does run up to 578, I'll look to see if I can enter a short position with a target of 574 before we close today. If this falls down to 567 before the close, I'll take a look to see if I can catch a move to the upside to 572. Volatility is above 20 right now, so it is appropriate for me to take these types of quick trades if the set up is correct.
AMEX:SPY
by MMOTA_
1
SPY Ascending Wedge PathsNice rally for SPY off 565, now it's all the way back to the top end of the range near ATH. Nice little ascending wedge here, I'll be looking for longs on a retest if we break up above the wedge and past ATH. It could also be a good long if it pulls back to the bottom end of the wedge and holds. If we get the downside break, first target is the bottom of the range again around 565 and then the 560 area for a final target. Another bearish scenario would be a brief ATH break that has a hard rejection at the top end of the wedge and can't hold the previous ATH on a retest.
AMEX:SPY
by AdvancedPlays
SPY Technical Analysis on October 9, 2024 Price Action: Current Price: $573.33, with a recent high of $573.78 and support at $572.69. Trend: SPY is trading within an upward trajectory, breaking above previous resistance levels around $572, showing bullish momentum over the last trading sessions. Key Levels: Support: Immediate support at $572.69. Stronger support zone between $565.25 and $565.82, which has been tested multiple times as shown by the lower wicks in previous candles. Resistance: Immediate resistance at $573.78 (recent high). Higher resistance around $576, aligning with the trendline. Indicators: MACD: Momentum is mixed but leaning bullish as the histogram shifts slightly upwards. However, it still indicates choppy action, suggesting potential consolidation near current levels. Trading Plan: For Bulls: Watch for a continuation above $573.78, targeting the $576 level as the next resistance. Entries could be made on pullbacks to support at $572.69, with stops placed below $572. For Bears: A rejection from $573.78 could lead to a retracement toward the support zone at $565.25–$565.82. Look for a break below $572.69 to confirm a downside move. Outlook for Tomorrow: Bullish Bias: As long as SPY holds above $572.69, the short-term bias remains bullish. However, any failure to break above $573.78 might lead to sideways or slight bearish movements. Disclaimer: This analysis is based on technical data and is not financial advice. Please conduct your own research and consider risk management when trading.
AMEX:SPY
by BullBearInsights
Weekly $SPY Options SPY Options to Kick off October Election is less than a month away. Investors are taking profit and repositioning defensively until after the election noise. VIX over $21. We’re still just 3% off from all-time highs. The next catalysts are rate cuts, job numbers, and earnings. We expect volatility until the election noise settles. This week, we are leaning bearish to start the week. However, the upside trade has the most room for continuation. We are using 15-30 minute candle closes for confirmation. Best of luck! $569 Call 10/16 Entry: 15-30 minute confirmation OVER $568 Targets: $569, $571, $574 $565 Put 10/16 Entry: 15-30 minute confirmation UNDER $568 Target: $565 AMEX:SPY
AMEX:SPY
by PennyBois
SPY/QQQ Plan Your Trade For 10-8 : Gap Breakaway PatternToday's Gap Breakaway pattern suggests the SPY/QQQ will gap up and rally higher - moving away from yesterday's base/bottom. Remember, we had two basing and bottoming patterns over the weekend. Although I don't really count weekend patterns as drivers of price trends, I view them as psychological patterns. In other words, they reflect expectations headed into the following week of trading. So, the basing/bottoming patterns last weekend will likely resolve into a melt up type of trend this week and the gapping/breakaway patterns this week will, as a result, present a strong opportunity to the upside for traders. Recently, I started drawing the "Roadmap" trade signals on the charts for traders. This is an attempt to make things easier for all of you. Allowing you to see where the opportunities are for Options or Share trades more clearly. Ideally, if this works for all of us, then I'll be able to map out 4 to 7+ days of price rotation in clear trade triggers for all of us to use. Now, something interesting I wanted to point out is the SPY has just moved into a #3 phase of an Excess Phase Peak pattern. It is a very small pullback off a high - but it is still a valid Excess Phase Peak pattern. If price rallies today, as I expect, this rally will invalidate the Excess Phase Peak pattern and put us into a strong rally phase targeting $605 on the SPY. Gold is getting ready to move into a basing/support zone over the next 18+ hours - then really start to rally higher. BTCUSD has rolled downward - just as I expected moving into the #3 phase of it's Excess Phase Peak pattern. Again, if you are not paying attention - I'm picking apart all of these charts very cleanly and the information I present should be helping you see and identify better trade opportunities. Tell me how I'm doing. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
18
SPY For Tomorrow 10/8/2024Key Levels: Resistance: The recent high around 571.97 acts as the primary resistance level. If SPY pushes upwards, this is a critical level to watch for possible rejection or breakout. Support: There is a support zone around 566.65 and 565.49. This area was tested and held as support. If the price dips tomorrow, keep an eye on how SPY reacts to these levels. Moving Averages: The shorter-term EMA (15) is crossing under the 161 EMA, suggesting that bearish momentum is gaining strength. This cross can indicate a continuation of the current downtrend if no reversal signal is shown. Volume Profile: There’s a significant volume node near the 567.66 level, meaning this area has seen heavy buying and selling interest. If SPY trades around this level tomorrow, it may act as a consolidation or decision point where price either breaks up or down depending on volume direction. MACD: The MACD is slightly bearish as the MACD line crossed below the signal line, indicating a potential shift to the downside. However, the histogram bars are decreasing, which could signal weakening bearish momentum and possible reversal soon. Candlestick Patterns: The red candle (around 12:00 PM today on October 7) shows bearish pressure. However, the green candle that followed it suggests buyers stepped in, creating a minor rejection. Watch how the price behaves around this candle low tomorrow for potential reversal signals. Volume: There was a significant increase in volume during the recent drop, indicating strong selling pressure. However, a return to lower volume on the following candles indicates indecision or lack of continuation, which could lead to consolidation. Plan for Tomorrow: Bullish Scenario: If SPY holds above the 567.66 level and moves toward the 571.97 resistance, consider long positions on a break of that level. Use the volume profile to see if the buying momentum sustains. Bearish Scenario: A break below 566.65 could bring SPY down to test the 565.49 level. If selling pressure increases, a further drop could be likely. Make sure to monitor pre-market data and the first 5-10 minutes of the open for any significant volume spikes or price reactions to these levels. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading involves risk, and you should conduct your own research or consult a financial advisor before making decisions. I am not responsible for any losses incurred from using this information.
AMEX:SPY
by BullBearInsights