SPY short into the 540-543 zoneSPY short into the 540-543 zone on the first touch would most likely pay.
SPY trade ideas
08/12 SPY ATR Levels and Rangethe ATR of SPY still sits in the $7.08 area. Thats pretty good from a month ago where it was in the mid 4$ area.
With much much tension building up Russian, Israel, Iran, domestically, Trump with Elon on X tonight, PPI (tuesday) CPI (Weds) Jobs reports (Thurs), I think we move up today for a few reasons., the previoulsy mentioned and in preperation for the reports this week.
We have a level of 528.50 to look for in the even of any pullbacks, could this happen.. sure it can, anything can happen.
We got premarket highs of 535 so I like this level to hold on any pops for a push further up. We got plenty of range and positions between here and 550, not saying 550 is a target of any kind, but we have traded up here already last month, so we got people with position and hedges up here.
I dont know what exactly I am looking for except VOLATILITY.
Def will watch for Price action, volume and reasons for any of my moves through the actual volume profile and the tape, good luck and be safe everyone and anyone.
SCALP Ranges and values (smaller percentages of ATR)
SR2 537.14
SR1 536.22
SPOP 535.30
LAST PRICE 534.38
SBREAK 533.46
SS1 532.54
SS2 531.62
Standard ranges and Values (deeper percentages of ATR)
R2 543.58
R1 540.04
POP 537.92
LAST PRICE 534.38
BREAK 530.88
S1 528.08
S2 526.22
S&P bulls return in the game; still some work to doLast week, buyers regained control on the daily timeframe, filling the gap from Monday, August 5th, and closing the week at the high. While this was a strong display of power, I would approach it with caution for the following reasons:
1. The market is currently in a weekly consolidation phase. We've already seen how strongly the bears defend their control on the weekly timeframe (as evidenced by the last week of July), so this should not be disregarded.
2. The magnitude of Wednesday’s bearish candle demonstrates how easily the bears can move the price when they feel weakness
3. While all major sectors closed week green, none has managed to close above previous week high. Most of them are in a weekly consolidation, which signifies genuine market weakness.
To sum it up, while it's highly likely that the bulls will be able to confirm a weekly low ( 510.3 ) in the next days, it's uncertain whether they will be able to maintain their position for long. I would definitely wait to see the week’s close before considering a “buy.” Ideally, the bulls should fill the gap from Friday, August 2nd, and establish some value above 534 . If this doesn't happen and we see a strong price rejection, it would confirm bearish control.
The upcoming week is packed with economic data, which could fuel momentum for either side.
SPY 538 Top to 506. We’re in wave 5 of an ABC correction. We’re approaching 538 which is the 20 and 50 ema daily. Volume is declining as price rises. EMA’s have death crossed. 506 lines up as a 1:1 move on wave 1. We’ll get a 5 pattern move to the downside into 506 over the next week or so.
The 100ema is in the 506 range and I expect it to hold. This will then signal a bounce which will look like a rally, stalling at about 540-545 before a final move to the downside around 470-475ish which is around a 1.6 move from my wave A. This also lines up which the long term ascending trend line from Covid lows.
$SPY | Watchlist D1 | Buy Limit |Technical Confluences:
- Recent Elliott wave count shows that we are now in a Wave 4 retracement
- Price action seemed to have topped out at the 50% Fibo Extension for now (Ending Wave 3)
- Price action may test the Supply Zone again before retracing downwards towards the Horizontal Trendline and the 38% or 50% Retracement Fibo
Fundamental Confluences:
- US economic outlook is weak currently and valuations needs to normalize before we make a new high
- Businesses are suffering from high interest rate environment and for the FED to cut, growth needs to show definite weakness, which we are starting to see.
- A FED cut will not instantly improve business prospects again as interest rate changes takes time to seep into the economy
- Investors will also be wary about the upcoming elections as government policies may affect business activities
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Watching the Demand Zones as levels to begin some of my portfolio allocation into AMEX:SPY
Will place my Buy Limit orders for the it.
Remember, DYOR.
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If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
Spy Long Or Short Bull Market Or Bear Market By JoeWtradesWe are above 532!! In other words I believe we are going to see 537 early this week I will leave chart up for you all to follow Goodluck traders and i will see you Monday Morning!!!
$SPY 8/12 - 8/16- Massive panic sell off last week and a quick quick recovery BUT we are still overall red for the month
- If price makes higher highs above $534 lvls we most likely will keep pushing higher so we will look for calls
- IF price rejects and starts to make lower lows as well as retest previous demand zones then we should look for puts
- KEEP IN MIND there is PPI 8/13, CPI 8/14, and Retail sales + Unemployment 8/15
- Earnings for Retail Companies are next week as well so keep an eye on NYSE:HD , NYSE:WMT , NYSE:BABA for any major moves
Consolidation before another big move?I'm feeling weakness and a fake out on this bounce and expect a continuation to the downside, but nobody knows the future, so only time will tell! GLTA!
SPY Bear Flag Trade IdeasThis is a 15m chart, if you were to zoom out you'd see that the all important 537 area goes back to early.June, it was a gap.that was.filled last week. SPY has remained below since and is forming a nice bear flag. Last week it closed towards the top end, so we'll see if it can gap up above tomorrow or not.
If we gap.above I'll look for.longs on the retest of 537 or the bear flag, maybe both. If we do see this bear flag break to the downside, I'd look for puts on a retest. First short target is last week's low then the April low. First upside target is last week's high.
Bearish flag forming AMEX:SPY
Bearish flag forming wait for price action and confirmation. Trade safe
SPY Downside Slippage into EOY?Assuming we continue an overall long term bullish view of the AMEX:SPY , a correction like this seems reasonable to me. Everything is always subject to change though and this is not financial advice.
$SPY August 11, 2024AMEX:SPY August 11, 2024
15 Minutes.
AMEX:SPY made high around 534 as expected.
If we draw a parallel channel form 510, we can see AMEX:SPY taking support at midline of channel.
Hence making HH HL pattern.
Connecting all the HL as a channel again we can see AMEX:SPY getting resisted at midline of this channel.
We are having an oscillator divergence for the HH values 532.64 and 534.51.
So, if we take the rise from 518.05 to 534.51, On Monday holding 528 levels we can expect an up move towards 534-540 levels. 528 is nearly 100 averages in 15 minutes.
In 15 minutes 200 is sloping down and 50,10 are sloping upwards.
Once this cross happens I expect a swift move to 540+.
The Oscillator will get sorted out by that time.
At the moment uptrend intact towards 540 levels.
I will look for a sell only if 521 is broken on downside.
spy My Day AMEX:SPY updated, i see a possible major head and shoulders at play on the weekly #spy #stockmarket #finances #technicalanalysis spy
$SPY ForecastLooking for any feedback . I am new to technical analysis and seeing if anyone has a take on what I have done or any new ideas
$SPY ForecastLooking for any feedback . I am new to technical analysis and seeing if anyone has a take on what I have done or any new ideas
Why an emergency rate cut is badThe market has been desperately waiting for a FED rate cut for nearly a year now. We have not received one yet even with the recent flash crash in the market.
Despite calls for an emergency rate cut after the crash we didn't get one. Why not? Why is that a good thing?
The Fed does not cut rates out of the kindness of their hearts
They cut rates only they broke something and they are trying to fix it
The lack of emergency rate cut means the recent flash crash was more irrational panic, less based on actual facts
The economic data while concerning in areas still is nothing alarming to the point for the Fed to "break glass in case of emergency" rate cut button over
When the rate cut does come which is expected still in September, we should hope for 25bps rate cut, nothing more. Small rate cuts a bullish sign that we are still doing ok. Large rate cuts is the equivalent to oxygen masks falling from ceiling, brace for rough landing.
Week of August 12th Weekly LevelsHere are some of my levels for the week on the bigger time frames. Let me know if you have any questions or critique for me.
Great lesson on my perfect set upThis is an example of what I can look for in the coming week and work on this is my perfect A+ set up
SP500: Bracing for Impact?The crisis is gradually approaching... Global central banks are cutting rates at the fastest pace since the Covid era, according to BofA. The scenario might play out more slowly than shown on the chart, but the essence remains the same.
The upcoming U.S. elections are unlikely to be quiet and peaceful—something big is bound to happen. I'm leaning more towards a downturn.
Is it time to start picking up some Put options? 🤔🤔🤔
SPY The Target Is UP! BUY!
My dear followers,
This is my opinion on the SPY next move:
The asset is approaching an important pivot point 532.91
Bias - Bullish
Safe Stop Loss - 524.76
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 546.16
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
SPY - RSI Failure Swing and Gold New ATH BreakoutThis trade idea is already a missed opportunity but the analysis of what transpired may be useful for future reference. This was a -8.38% move from a close that constituted a sell signal according to RSI failure swing theory on the daily chart. The drawdown would have been .46% if a short trade was entered at the close of Wed July 17th when the signal was given. That sell level was also successfully defended 4 days later. It coincided with the 9-day SMA at that time. Also worth noting: Gold broke out to a new ATH the day prior, which in hindsight, amongst the backdrop of great, unretraced gains in gold over the past 5 months, was a bellwether for increasing risk asset fear. SPY put in a new ATH that same day, but not with the same level of conviction. It had a smaller % gain, and it wasn't a breakout but a continuation of a series of new ATH days. Main takeaway: Watch the daily RSI for failure swings in overbought territory to spot trend changes before they happen.
SPY 65 Minute Wave Analysis65 Minute spy chart with the 8 Ema showing a potential wave 4 retest of the pivot point at 518.21 and further potential upside to the next support zone at 546518.
SPY/QQQ Plan Your Trade 8-9 Noon Update : Possible SqueezeThis quick update covers SPY, Gold, Bitcoin, IWM, and NVDA.
Boy, what a change in price range compared to the last few weeks. Looks like ht markets have settled into a deep sleep today.
I still believe the Breakaway pattern could really make a move in the last 30 to 40 minutes of trading. A solid squeeze potential is available to price if the short trading pressure starts to unwind before the weekend.
Watch how this plays out at the end of the day, and remember that next week should see solid rallying trends.
Have a great weekend.
Get some.
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