The S&P 500 been gradually breaking downwards since peaking in July. AMEX:SPY has reached the bottom of this red parallel channel last week. This is a key support level that has been providing strong support, and I think SPY bulls need to defend this price level this week. The RSI is oversold so the conditions are good for a rebound here.
Looking for the SPY bull flag to gap fill this week.
it might be good opportunity now to get in on a short term for long calls . i believe we are in the bottom of the Chanel
"More Up Baby" as Wiz Would Say. To The Spy Balloon We Go!
📈 What’s up investors! 📉 Welcome back to another one of 💡“Mike’s Ideas”.💡 I post as I find signals… these signals are based on the personal rules I have built and follow in order to make up what I call the “SST Strategy”. Follow for more ideas in the future!! I have 4 levels marked and colour coded on the Chart. These levels are: ⚪ White = Entry Point 🔴 Red =...
$SPY is approaching our weekly 0.236 fib retracement @ 389.87 with TTM squeeze flipping positive, we are layering our long positions into this retracement level for a potential rally into the mid-end of September.
$SPY momentum has been strong for the past few weeks. after the market switched gears to the upside after the government lifted off the covid restrictions this summer, and ok earnings in some of the big tech stocks couple weeks ago. i believe after the restrictions got lifted off, it helped the economy to get back on its feet. but despite the covid restriction...
I am targeting a lower low at the $358 support by the end of this month, due to the CPI report and the start of the Q2 earnings season with revisions. Looking forward to read your opinion about it.
Should see a continuation of this reversal pattern back up to .61 and the massive volume profile level at $430. Following that, I expect a period of consolidation to the EoM. Not trading advice.
The daily chart for the S&P 500 looks eerily similar to the chart from the 2008 crash. We have already crossed below the VWMA 100 and VWMA 500 now which are both historically very supportive moving averages. I think it's very possible we chop around in this area for the next couple weeks while we wait for the VWMA 100 to cross below the VWMA 500, but if we can't...
Descending triangles are typically bearish but I think we can get one last bounce to 448 by june or july in order to hit the top of the range.
⭐7.86 Fib Mounted as strong support confirmed by a significant amount of volume (425) This support is valid by the VPVR and Bullish Divergence on the MFI. ⭐6.18 Fib Support mounted with large volume. This support 435 is valid due to the large VPVR node + volume. ⭐446 Resistance confirmed by VPVR and selling volume + Ichimoku Cloud Resistance. ⭐453 Resistance...
Using an indicator called Parabolic Glitter Similar points of reclamation of trendline are indicated in green rectangles Up trend is in Orange The parabolic glitter indicator shows the comparable drops and rises back to the trendline in both situations
I was monitoring the SPDR S&P 500 ETF Trust (ETF) options market and the puts are dominating the options today. 2/3 puts, 1/3 calls and some important dark pool prints sells. My expectation is for a retracement at the $422 area, followed by a W shaped recovery. Looking forward to read your opinion about it.
OH MY MODE engaged over $446.29. Don't let the Elliot Wavers tell you otherwise.
SPY is looking bullish. First PT $447 and second PT $There is a lot of strength on DTF
In this video I cover the S&P 500 using basic TA and price action!
Since Feb 2021, SPY needs on average 26 days to complete its bull/bear cycle. As SPY price goes higher, the gains slow down slightly, which is accounted for with the trend angles dropping 4 degrees per month from its Higher Low to Higher High. If you did not take a call position yet, you may want to pick up some Spy Calls tomorrow.