Correctional movement failed to break the local support, we expect resumption of buying to resistance.
If you like the idea, mark it. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and make yourself and your loved ones happy.
SPY has been getting absolutely shellacked as I predicted. Closed a bunch of my shorts now I am adding some short term longs. Now SPY has approached a key support level at 390. You can see in the past couple months 390 has acted as support and resistance. Now its time to do its job as support. As you can see I don't expect much of a rally but am expecting a short...
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.
It's bear market territory whenever we see more than 20% retracement from ALL-TIME HIGH. The first retracement from an all-time high is always 33% (that's almost 320 for SPY)
I have made a technical analysis on how to play the bear market. The two red lines I have outlined can help traders when to short and when to go long. I'm going to swing shares of SPY (long/short).
SPY GAMEPLAN FOR JUNE 10,2022
As CPI data will be released at 8:30 AM EST, tomorrow is a big day for traders and investors. Make sure not to trade on news or assumptions. Today we saw a massive sell-off at the end hour of the market trading session. There will be a bounce upward tomorrow for correction. The critical level of resistance, for now, is 405.18-405.71,...
SPY GAMEPLAN FOR JUNE 2,2022
Based on today's economic news:
ISM Manufacturing (Apr) 56.1 vs 54.5 Expected
JOLTS Job Openings (Apr) 11.4M vs 11.35M Expected
The market was up the first 30 minutes of the session, and then after the news, it got rejected on resistance and then bounced back from the support of 407. Also, keep in mind that vix is on a support level...
TODAY SPY HELD BETTER THAN NASDAQ.
Spy is on an uptrend with ascending triangle but can be a possibility of rejection on resistance (398). If SPY gets rejection on resistance, spy sees 380 level again as main support for now.
Two scenarios for tomorrow's game plan:
1st- If rejection on resistance and uptrend breaks, the spy will mostly fall back to the 380...
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...
Today, we saw a massive sell-off after yesterday's massive rally, but there was an enormous volume at the end of the 15 minutes of the trading session. I see two scenarios tomorrow.
Scenario 1- we might see a dump at the beginning and then upward correction in which the spy will touch the 417-418 area and then back down again.
Scenario 2- We might see a sideway...
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....
The SPY S&P 500 ETF wend down after the huge amount of puts that i noticed last week:
Now i am considering a W-Shaped Recovery to $470 by the end of Q2.
The Ukraine invasion was price in at $410 and the interest rates will be lower than expected due to the war.
Looking forward to read your opinion about it.
Showed to be overbought, broke out of resistance with no overbearing candles and only baby candles, I'm expecting a drop to around the 78.60% Fibonacci level
Pumping of dollar into the market is done and right now THE MARKET IS INSANE and TIP OF ICEBERG.
This time, it is beyond 2008 crash where the market has to correct more than 70% by end of 2021 - 2022.
After the major dip $324, market will bounce back near to ALL TIME HIGH where the newbies, investors, traders etc will try to catch the falling knife where the...
Markets will face their first major challenge of 2021 as the rapid spread of a new, more contagious coronavirus strain means that economic gains could still be a way off. The December jobs report on upcoming Friday could show that the pace of hiring is slowing down amid renewed pandemic-related restrictions on businesses. Meanwhile, energy traders will be turning...
Friday was the quarterly event known as quadruple witching where S&P 500 (SPY - Get Rating) futures, options on those futures, options on individual equities, and single stock futures all expire. In the past, these ‘witching’ days have been characterized by above-average trading volume and increased volatility. But, in the current environment, those are relative...
