AMEX:SPY February 15, 2024 15 Minutes. The gap on 13 February did not allow me to go long on 14th February as I was not supported by parameters. Since 478 levels gave an opportunity to short, supported by a gap up, I shorted at 496.5 levels and covered at 495 levels as the gap was not getting filled, indicating bullishness. Considering the rise of 490.72 to...
AMEX:SPY February 14, 2024 15 Minutes I had considered Fibo for the rise from 490.23 to 503.50. Since it opened the gap down I had to consider the previous low of 482.89 to 503.50. Could not be shorted. But took support at 61.% retracement around 490.7 levels. For the day I will consider the fall 501.24 to 490.72. 497-498 will be a good level to short SL...
AMEX:SPY February 13, 2024 15 Minutes. As expected 500 was held on the downside and the upside was capped around 503 levels. I will consider one rise and fall respectively. 497.86 to 503.5 rise and 503.44 to 500.24 as fall. For the rise AMEX:SPY retraced to 61.8% so I expect 503 to be a triple top before a retrace. For the fall 502 will be a good level to...
AMEX:SPY February 12, 2024 15 Minutes AS expected box sideways was broken on Friday. I closed longs around the 501 level, as SPY was struggling around that level for more than one hour. Now for the day, I will take 2 rises. 499.33 to 501.65 495.36 to 501.65 Unfilled gaps denote a strong rally., hence I took 495.36 as low. As long as 499-500 is held uptrend is...
AMEX:SPY 9 February 2024 15 Minutes. As expected 496 levels were held. Did not break that number. A full day of sideways consolidation. I think today is the day for 502-504 levels provided 496.5 is held being a 38.2% retracement for the last rise. Holding the longs to exit around 504 levels +- 1$. The black bar on the stochastics is still on top, the...
AMEX:SPY February 8, 2024 15 Minutes AMEX:SPY opened the gap up, broke 496, and made a high of around 498 levels. So far working as expected. For the day I will consider The rise 482.89 to 498.43 490.23 to 498.43 492.84 to 498.03 For the last rise AMEX:SPY retraced to 23.8 levels and went up. So today holding the 495-496 levels uptrend is to continue...
AMEX:SPY February 7, 2024 15 Minutes As expected 492 was held and SPY seems to have consolidated for a move today. Also if we consider the fall of 496.06 to 490.23 it has closed above 61.8% of the fall. And for the rise of 490.23 to 494.33, holding 492 we can expect a move upwards. 100 average is sloping upwards to 492 levels to provide good support. As...
AMEX:SPY February 6, 2024 I will consider the rise 482.89 to 496.06 490.23 to 494.18 And the fall from 496.06 to 490.23 Holding 492 uptrend is intact. 489-492 is a very good support level. I expect a one-sided move tomorrow if 491 is held today. 100 and 200 averages are around 490 levels in 15 minutes. So that level should provide strong support for the...
AMEX:SPY February 2, 2024 15 Minutes AMEX:SPY is very bullish. All falls are negated and the bounce back is very sharp. At the moment I have 540-560 as a target on the daily time frame, as long as 460 is held. There is oscillator divergence daily. But I expect 9,21 averages to be held on any fall. At the moment 21 averages around 480 levels. For the day...
AMEX:SPY February 1, 2024 No comments. The system was right. Again 200 average in 15 minutes gave trade. And once more Wednesday /Thursday worked out. I made 2 mistakes. First forgot the day. Wednesday. Closed shots on Tuesday. Second, lost patience. Elliott Oscillator divergence worked for the nth time. No trade today. For the fall 491 to 482, 488 will be a...
AMEX:SPY January 31, 2024 15 Minutes. Shorts closed. Looking for a fresh setup. Elliott divergence continues. AMEX:SPY making new highs. I will take 2 rises. 485 to 491.47 487.84 to 491.47 As we can see in the chart AMEX:SPY has taken multiple times 100 average support in 15 minutes time frame. So any pull back I expect to be in the range 487-488.5...
AMEX:SPY January 30 2024 15 Minutes AMEX:SPY continues its uptrend with divergence. Broke the rectangle consolidation. 492.5 is crucial. There is divergence in the Elliott oscillator in all-time frames. The expected pull back not happening. The fact it is making HH and HL narrowly suggests it is a testing time for traders with rules-based entry exit. My...
AMEX:SPY January 29, 2024 15 Minutes SPY is continuing the sideways. At present the 9,21,50 and 100 averages have caught up with the price. I am still holding the short position. Expecting the 200 to be touched and then a move. The 200 has moved from 475 to 482 last week. The shorts are around 487 levels I am looking forward to closing around 484 levels with...
AMEX:SPY January 26, 2024 15 Minutes AMEX:SPY refusing to take a side.Sideways the whole week. I am still holding my shorts. The range is 485-489 as per box. Either side breakout can give a $3 move. As of now, 9,21,50, and 100 averages have converged. After a long time, I did not get any trade to initiate or close on Wednesday/Thursday. In the box SPY...
AMEX:SPY January 25, 2024 15 Minutes As expected since AMEX:SPY was way above moving averages the 15-minute uptrend was limited. The target 488.5 above the breakout rectangle was achieved allowing shorting at 488 levels. This is a contra setup considering AMEX:SPY is an uptrend, a Black bar on stochastic on top, and the Elliott wave oscillator was...
AMEX:SPY January 24, 2024 15 Minutes. As expected AMEX:SPY moving sideways. 100 and 200 averages are sloping upwards. Hence I still expect a pullback to 480+ levels. For the day a break above 485.22 may take AMEX:SPY to $2 to $2.5 being consolidation levels in the box. Even though the stochastic black bar is on top, indicating bullishness it is negated...
AMEX:SPY January 2024 15 Minutes As expected AMEX:SPY is in sideways as very far away from moving averages in 15 15-minute time frame. For the day I have shorted. It is contra as a black bar on stochastics is still on top, Elliott oscillator green. Since a pullback is expected as per moving averages I will close the shorts around 481-482 levels. If we...
AMEX:SPY January 20, 2024 15 Minutes. I had old my position pre-open at 478.6 levels as I had expected resistance as marked in a green rectangle in the chart. The open bar was not good. Closing near low and inside parallel channels. But sell was negated by the Elliott oscillator being green, a black bar on stochastic continued to be on top, and CCI...