SPY D(own) sense is tinglingRSquared basis Late October and early January now around .95. This degree of complacency would likely be followed by a correction, possibly severe. The rsquared .935 basis the March 2009 low also potentially troubling.Shortby MAgicTrx112
Ending Wedge Price has been consolidating in a wedge pattern. Upper trend line is possible neck line of inverse head and shoulders pattern. The fear about China seems to conincide with bottom. by ThnacksUpdated 4
Soybeans will take off with inflationI see a sharp ramp up in commodities after Powell's presser on Friday when the inflation metrics come out and he sends a Dovish message (not hawkish enough). The dollar will end up turning back up this summer so I see this upward trend momentarily until after the FED goes in with CBDC's and then commodities will take off. At that point I doubt stocks will exist so I would just caution you to buy freeze-dried food and some precious metals because a Global Depression is coming.Longby EmptyEternity1
$SPY BULL FLAG OR BULL SH!TFound a repeating pattern starting to form. 2/21 bull flag to full form on 2/29 and bounced off the $504.50 support and continued to run for a couple weeks. A few key things to look out for to confirm a buy for me: - PA hits $519.50 and holds - Wait for squeeze meter bar to engage (Black plus sign) - Holds trend line Just a reminder, we are hitting ATH on AMEX:SPY weeks in a row and could be a medium to high risk play depending on the value on your options that you buy. IF my checklist hits the I am looking for at least 2 weeks EXP.Longby The_SPY_Who_Shagged_MeUpdated 339
✅SPY WILL KEEP GROWING|LONG🚀 ✅SPY is trading in a narrowing Wedge pattern in a strong uptrend So I am bullish biased and I think That we will be expecting A further move up LONG🚀 ✅Like and subscribe to never miss a new idea!✅ Longby ProSignalsFx111
short SPXLsince its leveraged taking small target patterns 1 to 5 have completed, while ABC correction is in progress according to Elliott Wave Theory. The impending downtrend is likely due to profit-taking amidst overbought conditions, coupled with weakening investor sentiment and potential market corrections, signaling a short-term bearish outlook.Shortby bapatdileep0
SPYToday, SPY touched the top of Chanel.I predict SPY will be a drop-down to 470 and maybe a correction soon .the first support will be 470 after that it depends on downgrade and time of correction.Also, market is always unpredictable .Shortby hadiaminUpdated 112
This trade is not for the feint of heartThis is a 2x leveraged TESLA long position. Bullish divergences shown with arrows. Risk Reward here looks great, and you could take profits along the way rather than waiting for the whole trip. (200%) Longby MikeMMUpdated 11
Bullish Bias on SPYWith no catalyst for the market until Thursday and Friday's economic reports, we may continue to consolidate along the 5-day MA with low volume today (Tuesday) and Wednesday. However, I'm slightly bias for a bullish move to the previous high this week for two reasons. 1) According to the 30 minute chart, we have a lot of nested inverse head and shoulder set-ups confirming that the bulls are building nice liquidity for strength and a nice move to the upside. Nested IH&S set-ups also allow the sellers to get squeezed out by forcing them to sell at a lower price down to a strong support level established by the buyers. We can see this at every head fomation and small move up from every right shoulder grab to the upside. 2) If the bears are going to move further down, there first needs to be a retracement to the upside (bullish) to build more liquidity for a stronger advancement down. The best retracement for the bears would be a re-test at the previous high, respecting resistance and strengthening this area as an area of supply. Then, on the way down and after the neckline break there is also more larger liquidity to grab on the left and right shoulders. Until then, bears are in a weak selling continuation and trend exhaustion. So, Unless we have a supporting catalyst, I honestly do not feel comfortable shorting this until we break below the 5-day MA and retest it at resistance, and if we do I will only place puts for quick entries and exits until the 20-MA catches up to price action for a retest. We have a way to go before we reach that point. For now, if the bears want go further down, they will need a nice retracemnet to the upside first. (More bullish confirmation) I'm slightly bias for a bullish move but is prepared and in position for a move for both directions. Pre-market analysis is great but once we're in the intraday, the market rewards those who are patient and trade what they see. LET'S EAT!!! Longby fyre2020111
Bullish Bias on SPYWith no catalyst for the market until Thursday and Friday's economic reports, we may continue to consolidate along the 5-day MA with low volume today (Tuesday) and Wednesday. However, I'm slightly bias for a bullish move to the previous high this week for two reasons. 1) According to the 30 minute chart, we have a lot of nested inverse head and shoulder set-ups confirming that the bulls are building nice liquidity for strength and a nice move to the upside. Nested IH&S set-ups also allow the sellers to get squeezed out by forcing them to sell at a lower price down to a strong support level established by the buyers. We can see this at every head fomation and small move up from every right shoulder grab to the upside. 2) If the bears are going to move further down, there first needs to be a retracement to the upside (bullish) to build more liquidity for a stronger advancement down. The best retracement for the bears would be a re-test at the previous high, respecting resistance and strengthening this area as an area of supply. Then, on the way down and after the neckline break there is also more larger liquidity to grab on the left and right shoulders. Until then, bears are in a weak selling continuation and trend exhaustion. So, Unless we have a supporting catalyst, I honestly do not feel comfortable shorting this until we break below the 5-day MA and retest it at resistance, and if we do I will only place puts for quick entries and exits until the 20-MA catches up to price action for a retest. We have a way to go before we reach that point. For now, if the bears want go further down, they will need a nice retracemnet to the upside first. (More bullish confirmation) I'm slightly bias for a bullish move but is prepared and in position for a move for both directions. Pre-market analysis is great but once we're in the intraday, the market rewards those who are patient and trade what they see. LET'S EAT!!! Longby fyre20201
XLE - 5th wave starting?It's been a long correction for the energy sector but if we see a breakout here it might lend weight to my argument that XLE has indeed started a 5th wave according to EW theory. Longby tomj24170
$IBIT March 26, 2024NASDAQ:IBIT March 26, 2024 60 Minutes As expected 35 levels were held. For the rise from 28.91 to 41.99 35 levels represented about 50% retracement value. Now formed HL at 35.71 which becomes an important number to hold for the current uptrend. Consider the fall from 41.99 to 35.41. NASDAQ:IBIT retraced 61.8% and managed to hold the gap up. Now if we consider the rise from 35.71 to 40.62 holding 38.5 to 39 levels is important as it is a converging of averages 9,21,50 and 100. Adding around t 38.5 -39 levels on a retracement today should be a good trade as risk is only 35 levels being 200 averages for a target 43 + by RiderTrader0
$SPY March 26, 2024AMEX:SPY March 26, 2024 60 Minutes. In daily and in 60 minutes we had the 524.11 bar as a sell bar because the close was near the low of the bar. Hence buy is only above 524.5 levels. In daily the 9 moving averages and in 60 minutes the 50 moving averages are around 517.5 levels. I expect 517 to 518 as a strong support around 516-517 levels. In 15 minutes AMEX:SPY is below all moving averages so 200 averages is the target now being at 517 levels. If we consider the rise from 508.3 to 524.11 AMEX:SPY must hold 516 levels to continue up trend as it represents 61.8% retracement of the rise. Hene 516 - 518 becomes an important number for the Tuesday trade. by RiderTrader0
XLU A utilities ETFThis vanguard fund appears to have broken a bearish down trend and has broken past the 200 day EMA. Order blocks show some strength near this level. If you are bullish, you can even use UTSL for a 3x leverage play on this sector. Longby Brotank770
SPYMaybe we get a big old head here. Numbers later in the week provide a right shoulder? We will see. Shortby MAgicTrx0
Spy is looking bullish Spy is looking bullish at cmp. Targets were discussed in spy weekly. This is a swing trade with SLs 513 hourly candle closing.Longby THECHAARTIST337