AMEX:SPY May 13, 2024 15 Minutes. Had a gap up on Friday. I sold into strength. I had a view of 522 levels with bias down as oscillator divergence. We can see the divergence more prominent now. Also, if you see in daily the rise is steep and 9 averages is around 512 and 21 around 508 levels. And in one hour chart we have the 522.63 bar having close near low...
AMEX:SPY May 10, 2024 15 Minutes. Holding 516, (yesterday low was 516.70) 520 target was achieved. At the moment i have 2 issues. Positive is uptrend, above all moving averages, Stochastic black bar on top, did not become red on any pullbacks, Elloitt oscillator green and CCI green. Negative is Elliott oscillator divergence (price making higher but not...
AMEX:SPY May 9,2024 15 Minutes. No trade day. Neither the sell below nor buy above was triggered. Uptrend looks like getting sorted out. AMEX:SPY has moved from 503 to 518 levels. And yesterday gap down open after 3 days of gap up did not hold. The first in 15 minutes gap down had close near top of bar and never broke the low during the day. We have 100...
AMEX:SPY May 8 ,2024 15 Minutes. As expected, AMEX:SPY was in sideways. Forming a HH, HL pattern. For the last rise from 514.89 to 518.87 it retraced 61.8% yesterday around 516.5 levels. So, for the day I will buy above 518.6 and sell below 515.6 for a target 513.5 to 514. I expect a move only above 520 at the moment. Need to cross the 519-520...
AMEX:SPY May 7,2024 15 Minutes. AMEX:SPY managed to stay above 510 levels. Now we have 100 and 200 also near 510 levels. Now holding 513 levels uptrend intact. 513 is the 61.8 % retracement for the fall 524.61 to 493.86. 510 is important because it is 38.2% retracement for the rise 599.55 to 516.61. For the day holding 514 levels i have a target 518-519...
AMEX:SPY May 3, 2024 15 Minutes. Last 2 days AMEX:SPY managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024. Now all moving averages have converged, 50 averages are around 502.5 levels. So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510...
AMEX:SPY May 1, 2024 No comments. No trade day today. Nothing to write about. Went wrong. Back to drawing board.
AMEX:SPY April 30, 2024 15 Minutes AMEX:SPY opened gap up around 510 levels. But the expected retracement happened only near end of day. It is on sideways between 508-510 levels. If we consider the rise from 493.86 to 507.37 4SPY retraced to 497.5 levels. This is more than 61.8 retracement for the rise. Hence 508-510 sideways going on for consolidation. I...
AMEX:SPY April 28,2024 15 Minutes. For the fall 519.47 to 493.86 AMEX:SPY has retraced to 61.8% levels around 519.5 levels. Hence long only above 514-515 levels. For the rise from 493.86 to 509.88 AMEX:SPY need to hold around 500 levels. For the last rise 497.49 to 509.88 $ AMEX:SPY need to hold 502 levels. Therefore, a retrace to 500-502 levels will...
AMEX:SPY April 26, 2024 15 Minutes. The expected long was nullified by gap down. But AMEX:SPY managed to close near 502 levels. Now we have all moving averages consolidated together. I have Elliott oscillator green, CCI green and stochastics above 75 with no black bar on top. Now for the rise from 493.86 to 507.37 AMEX:SPY retraced more than 61.8%. Also,...
AMEX:SPY April 25, 2024 15 Minutes. As expected, AMEX:SPY managed to hold 502 levels. Foe the day holding 504 levels I expect 507 to cross towards 510 levels as initial target. If 504 is broken on downside I expect 501-502 as target. So, I feel not much worth shorting today. Based on opening 15 minutes today should be a trending day one sided. Moving...
AMEX:SPY April 24, 2024 15 Minutes. SPY has managed to hold 493 levels. 50-day average in daily. in 15 minutes forming HH HL pattern. Moving averages are getting sorted out. For the day holding 501-502 levels, for the rise 498.91 to 506.09 uptrend in intact. So, on downside 500 is a crucial level to hold. On upside resistance is around 509-510 levels as it...
AMEX:SPY April 21, 2024 15 Minutes. As expected the downtrend continues. Two issues. It is coming to the lower parallel channel in the move. And oscillator divergence. I expect a retrace to 498-500 levels. As I believe once 492-490 levels broke I will have a target of 495 which is 32% retracement for the larger move 409 to 524. 409 I have taken because...
AMEX:SPY April 19 2024 Strength is only above 515+- at the moment. Today 497 should break and probably AMEX:SPY will touch 4892no 94 levels being 100 average in the daily. In 15 minutes we have 100 averages at 504 and 200 averages at 50 levels. Both will be resisted at least once. For the day I will go short around 502 levels on a gap up or below 497 on a...
AMEX:SPY April 18, 2024 15 Minutes. Closed shorts yesterday at 500 in SPY. We have 494 as a daily 100 average and 21 in weekly. At the moment I do not expect a trend change to long. I expect any upside to be resisted around 506 levels being 50 average in 15 minutes. If we consider the fall from 517.28 to 499.12 we have 61.8% retracement around 510 levels....
AMEX:SPY April 17, 2024 15 Minutes. Consolidation day. Today is Wednesday. I am expecting a one sided move. For the fall 506.5 to 502.61, AMEX:SPY retraced 78% and fell at close. For the two lows 502.43 and 502.22 we have oscillator divergence. I believe the uptrend for that divergence is over from 502.2 to 506. Today action will be above 507 or below...
AMEX:SPY April 16, 2024 15 Minutes. As expected 505 levels in SPY. Opened gapped up. So after the first 15 minutes a sell below was triggered for 515 was a level to short as planned. As expected 50 day average was touched in daily. Now for the rise from 493 AMEX:SPY has retraced 61.8% levels. Crucial to hold for any uptrend to continue. If this level is...
AMEX:SPY April 13, 2024 15 Minutes. AMEX:SPY took 50 average support in the daily. Now 505-510 levels become important to hold. The uptrend is from 493 levels in 15 minutes. Made a high of524 levels. so 61.8% retracement for that move is around 505 levels. If that level is not held next week I find it difficult to go long. Any rise up to 516 levels I will...