SPY falls into mean VWAP support for LONG Long

SPDR S&P 500 ETF TRUSTArca

Description

⋅ Aug 11, 2023 7:37 PM

SPY on the 1H chart was riding the cynamic resistance of the second upper VWAP line

in mid July but then pivoted down out of a head and shoulders at the bottom of the month

and is now bounding up and down retesting the support of the mean VWAP line.

The ADX indicator shows the flat line directional index. The ZL MACD is upgoing after a

cross of the lines at the lows. Price is impending another VWAP crossover on the

retest. I see this as an excellent base from which to take call options long targeting

$453 for both 8/18 and 9/1. Please leave a comment, will SPY turn it around here or

seek the downside?

Trade closed: stop reached

⋅ Aug 18, 2023 4:15 AM

With the fed news and the associated fear price dropped through VWAP support. Looking for a short entry now,

Trade active

⋅ Feb 20, 2024 2:03 PM

SHORT SPY to hedge a portfolio of stocks long

Comments

sharpsh00ter17

⋅ Aug 12, 2023 1:10 AM

What do you think about all the indicators that we've had recently? We have a weekly cup and handle producing a drop seemingly around the $430 mark and on the daily when we hit $459 we had the engulfing candle +2 there. Do you think short term bearish with long term bullish? Maybe picking up speed by mid September for the bulls.