So here's what I am thinking. I do think we will trend higher and hit the $380 area and head back down. Thinking we hit $380 by the end of October and with FOMC we break the support at the bottom and head straight down.
This is just my basic MONTHLY charting. I have marked what I see as the POSSIBLE bottom (support). I see overall DOWNTREND I have marked my potential SELL LEVEL for SHORTS/PUTS.
$SPY 1D is displaying relative weakness after rejecting the 0.5 retracement level at 401.38. If bulls fail to reclaim that level and bears successfully close a daily candle below 389.87 (0.236 weekly retracement) then we would expect to see selling pressure increase and possibly sweep the lows again. Monitoring it closely along with movement in oil prices heading...
$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...
Monitoring for bearish continuation after a bearish reversal at the 200 ema on 1D. RSI is calling for further downside...
Monitoring $SPY for bullish continuation over 1h 200 ema @ 388.26. If bulls can retake that level as support a sustained rally is likely over $400 on $SPY...
SPY levels going into next week. using price to volume analysis, time frames used weekly, daily and intraday for support and resistance levels.
GAMEPLAN FOR FRIDAY, MAY 20,2022 Today was just a sideways trend. If the light uptrend breaks, tomorrow's market is seeing new lows. Keep in mind if you are an options trader, don't try to hold anything. Just scalp and swing them/ Market makers are doing their best to decrease the premium by trading the market sideways. A break above 396 is bullish, and a...
Gameplan for May 17, 2022 Spy did hit resistance and support all day with a small ascending triangle in mid-session, then got rejected on resistance. At the end of the session, the spy broke the uptrend line but still needs support to break so we can short it. We will see what happens tomorrow. For now, observe, and there can be two scenarios because when...
GAME PLAN FOR MAY 16,2022 Spy's significant resistance level, for now, is 403.50. Make sure to observe the market from 7:00 am till 9:45 am EST. There are two scenarios for now. The first scenario is that if the resistance level gets destroyed, wait for the candle wick to come back at the resistance area from that point to go long to 410 -415 level. The second...
Game Plan for May 13, 2022 Make sure to observe the 392.50 area as spy resistance for now. If that resistance breaks, we must wait and have patience, then go long and never chase. Overall, spy daily RSI at 30. Significant consideration note to take. But still, plenty of room to go down as RSI is calculated and first, down to 30 can be a fakeout, then 50, fall...
Yesterday's game plan went fantastic. We are officially in an uptrend (short term) minor correction of a downtrend. We can see a dip at the opening as it needs to cool off for the next leg up. Drips I'm looking at, the levels are 425.66-425.95; if this one slides, then will see 421.78- 422.56. Volume was there, and we saw a massive rally at the end of the day....
⭐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...
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.
Today's bar was a bullish bar and went above the high of yesterday's low volume bar. April 27 and April 28 were low volume days as well. When price continues to put in new highs despite these low volume days it is a good indication price is headed higher. 4250 and 4300 are the next targets for the S&P. I do not advocate buying into the highs so entering on...
SPY is running to ATHs. Record equities flowing into markets, intergenerational wealth transfers, vix declining, running into a 5-wave impulse to the moon.
HI! We are trading in a nice Rising Wedge channel and retesting the support area. In this case we may have a small pullback. The Stochastic Momentum Index is curving down + the Histogram . Waiting for a confirmation (to hit the Fibonacci levels / On the smaller time frames (1h / 5m) to identify patterns to enter a long position. For a small period I`m bullish...
Rising Wedge SPY Entry Short Price 371.70 Target Price 368.83 ish SL 373.65 Risk Reward 1/3 Georgia elections hovering over the market. Probably going to drag on for a few days. Consider 15Jan367P puts at entry point Option Symbol .SPY210115P367 Comment below your thoughts on this idea.