CBOE:SPX chart is quite INTERESTING. We can see the obvious short term downtrend. We're currently at the bottom part of the GAP. Volume has been a lil lighter, holiday is likely the reason. RSI broke the downtrend it was in Maintained the longer term 2022 low up trend. Can AMEX:SPY reach the top part of the current downtrend? AMEX:SPXS AMEX:SPXL...
SPx500 if it falls above 4265 in this direction will rise to 4288 then 4312 then 4334 but if it is below 4265 the direction will go down 4219 , 4197 then 4177 Pivot Price: 4265 Resistance prices: 4288 & 4312 & 4334 Support prices: 4219 & 4197 & 4177 The expected trading range for today is between 4219 and 4288 timeframe:4
SP:SPX chart we've been showing for a while now. 1 major edit, moved the top arrows a bit to the right. The major difference now is that AMEX:SPY is WEAKER.
Posting the SP:SPX chart again. Edits: Added the yellow circles. Added new blue dotted line. IMO there's a good chance we could see something like what happened late 2021 to early 2022. We'll likely get some volatility here. Weekly RSI looks in the same area. AMEX:SPY AMEX:SPXL AMEX:SPXS
GOOD MORNING! The 10 largest companies in CBOE:SPX = about 35% They have an average P/E of 50 Kind of scary FYI TVC:DJI joins the Head & Shoulder party As data comes in we readjust #SPX #SPY #DIA #DJI #stocks #indices
This is the 3x Leveraged ETF for the SPY, and at the moment we have a 3 Line Strike with a PPO Confirmation Arrow at the HOP level of a Bearish Deep Crab with Bearish RSI Divergence. If this plays out, I think the SPXL will at least make a 0.618 Retrace of the range, but it could go as deep as 100% or even more.
Pair : SPX500 Index Description : Bullish Channel in Long Time Frame and Rejecting from the Upper Trend Line Completing its " 3rd " Impulsive Wave. We have Break of Structure and Making its Retracement in Corrective Waves " ABC " . Possible Rejection from Fibonacci Level 61.80% or Previous Resistance
spy is trading in a giant descending correction mostly these break upside from previous patterns but you should know this game by now, high probability trade idea here for next week !!!!
Pair : SPX500 Index Description : Bullish Channel in STF and LTF as an Corrective Pattern EXP FIAT Daily Resistance Level Divergence Break of Structure Completed "12345 " Impulsive Wave
the two major points are marked for short as yellow lines for SPX big reversal , i expect a major pullback from all of this area for SPX here
TQQQ Trade example SQQQ SPXS SPXL SOXL SOXS YINN YANG
The SPX looks like it is ready to give us a moderate pullback so I will be playing this via multi-week call options on this 3x-Short SPX Bear ETF
Pair : SPX500 Index Description : Rising Wedge as an Correction in Long Time Frame Consolidation Phase S / R Level Bullish Channel Break of Structure RSI - Divergence
I don't have much to go on but that is fine. I just use the trend pivot line to put my back against (like a stop loss) So the margin of loss is minimal if the trade fails. I call this area the position of maximum opportunity.
Pair : SPX500 Description : Completed : Impulsive Wave " 12345 " and Corrective Wave " A ( 12345 ) " Corrective Wave Impulse Correction RSI - Divergence Break of Structure Bullish Channel in STF as an Corrective Pattern Consolidation Phase S / R Level