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KOLD (from $57.85 to $64)MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at bottom of channels Stochastic Momentum Index (SMI) at oversold level VBSM is negative Impulse MACD is crossing over to the downside Price at near Fibonacci level In at $57.85 Target is $64 or green channel top
AMEX:KOLDLong
by chancethepug
4
SPY 0DTE After yesterday's bullish day, I'm going to sit back today and see what happens. SPY opened up at 573.16 today with a current ATR of 5.72. The upside can go to 578.88, and the downside is 567.44. Still, overall, really just basing here, but it feels like it's losing steam. Can we see 580? Yeah, it's high probability and much more likely. If this does run up to 578, I'll look to see if I can enter a short position with a target of 574 before we close today. If this falls down to 567 before the close, I'll take a look to see if I can catch a move to the upside to 572. Volatility is above 20 right now, so it is appropriate for me to take these types of quick trades if the set up is correct.
AMEX:SPY
by MMOTA_
1
SPY Ascending Wedge PathsNice rally for SPY off 565, now it's all the way back to the top end of the range near ATH. Nice little ascending wedge here, I'll be looking for longs on a retest if we break up above the wedge and past ATH. It could also be a good long if it pulls back to the bottom end of the wedge and holds. If we get the downside break, first target is the bottom of the range again around 565 and then the 560 area for a final target. Another bearish scenario would be a brief ATH break that has a hard rejection at the top end of the wedge and can't hold the previous ATH on a retest.
AMEX:SPY
by AdvancedPlays
SPY Technical Analysis on October 9, 2024 Price Action: Current Price: $573.33, with a recent high of $573.78 and support at $572.69. Trend: SPY is trading within an upward trajectory, breaking above previous resistance levels around $572, showing bullish momentum over the last trading sessions. Key Levels: Support: Immediate support at $572.69. Stronger support zone between $565.25 and $565.82, which has been tested multiple times as shown by the lower wicks in previous candles. Resistance: Immediate resistance at $573.78 (recent high). Higher resistance around $576, aligning with the trendline. Indicators: MACD: Momentum is mixed but leaning bullish as the histogram shifts slightly upwards. However, it still indicates choppy action, suggesting potential consolidation near current levels. Trading Plan: For Bulls: Watch for a continuation above $573.78, targeting the $576 level as the next resistance. Entries could be made on pullbacks to support at $572.69, with stops placed below $572. For Bears: A rejection from $573.78 could lead to a retracement toward the support zone at $565.25–$565.82. Look for a break below $572.69 to confirm a downside move. Outlook for Tomorrow: Bullish Bias: As long as SPY holds above $572.69, the short-term bias remains bullish. However, any failure to break above $573.78 might lead to sideways or slight bearish movements. Disclaimer: This analysis is based on technical data and is not financial advice. Please conduct your own research and consider risk management when trading.
AMEX:SPY
by BullBear-Insights
QQQ range boundQQQ hovering around the resistance of the core channel from 2010. Found support on the center of the black channel that is based on the COVID bubble. Price seems to generally range bound in this area between trendlines. Looks like more sideways without something big to push it one way or the other. Overall, it seems like tech has run out of FOMO. That does not mean we don't keep moving sideways and slowly up, but it does feel like any big moves to the upside are less likely.
NASDAQ:QQQ
by Dr_Roboto
1
MHCI (China) finally a pullbackI was able to enter this position again on the rather hefty pullback. I went with Jan 60$ strikes for this to limit my downside. I am fine with holding a very volatile position. For those who hate that volatility, buying straight shares is definitely viable, my PT is still 69$. We could see a pullback as far as 47$ but I dont like to wait on momentum plays. If we see TSLA or PLTR blow up this week people will look to buy decimated corrections on other sectors. Do remember the prior elevated stochastic RSI lasted 13 weeks.
NASDAQ:MCHILong
by Apollo_21mil
GLD: Short-Term Weakness, Long-Term OpportunityGLD is showing weakness today, confirming that the strong upward trend is now in a phase of consolidation or temporary correction. This phase could present interesting entry points, but in the short term, the acceleration of the declines and the shift of previously bullish indicators to neutral signals suggest a cautious approach is warranted. AMEX:GLD Key Indicator Analysis: Relative Strength Index (RSI 14) at 43.60: This is in neutral territory, indicating that GLD is not yet oversold, but the weakening momentum signals the lack of immediate upward pressure. Stochastic %K (14, 3, 3) at 23.02: While close to the oversold threshold, this oscillator is still neutral, hinting that the current decline might not have fully exhausted selling pressure. Commodity Channel Index (CCI 20) at -213.86: A clear "Buy" signal, as this extreme negative value suggests the possibility of a rebound. However, it must be considered within the context of broader market conditions, which remain weak. Average Directional Index (ADX 14) at 26.06: Indicates a lack of strong trend direction. This suggests that the consolidation phase could last longer, and a strong trend (either up or down) is not yet established. Momentum (10) at -4.10: This "Buy" signal indicates that selling momentum may be fading, but the bearish MACD (-0.73) contrasts this, suggesting the potential for further declines before any meaningful recovery. Moving Averages: Most short-term moving averages (Exponential and Simple) are indicating "Sell" signals (10, 20, 30 days), reinforcing the bearish sentiment in the near term. However, the longer-term moving averages (50, 100, 200 days) remain in "Buy" territory, supporting the notion of a broader upward trend that is currently in a correction phase. Conclusion: Aggressive Traders: Those looking for short-term opportunities may consider selling intraday rebounds. The weak oscillators and bearish moving averages in the short term indicate that the downside risk is present. These traders can aim for quick, short-duration trades, betting on continued price drops before stabilization. Strategic Traders: More patient, strategic traders can observe how deep this correction phase goes. The extreme CCI value, along with the longer-term bullish moving averages, suggests that GLD is in a corrective period within a larger uptrend. Waiting for a clearer signal of the correction’s depth could provide an attractive buying opportunity with the expectation of new highs before the year-end. In summary, GLD is in a period of caution as the short-term indicators turn neutral to bearish, while long-term signals suggest this is a temporary consolidation phase. Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. Trading and investing involve risk; always conduct your own research and consult with a professional before making any financial decisions.
AMEX:GLD
by CF_444
$IWM Weekly Chart Looks BullishAMEX:IWM small caps have been volatile for quite a while now. I expect that volatility will continue until after the election. When looking at a daily chart it is hard to see any kind of pattern but zooming out to a weekly timeframe it looks to me that it has established a solid uptrend. I will be looking for an opportunity to get long for a move back to the upper trendline. But as you can see on the chart it has ventured outside the trendline but seldom closes above or below. The distance between the lower trendline and the upper trendline measures just over 11% as measured in a straight line. I am looking to squeeze out 8% to 10% as a swing trade. I have an alert just over yesterday’s high at $218.67. Should that trigger, I will put my stop just below last week’s low of 215.08. That looks like a good risk reward for me. All TBD.
AMEX:IWMLong
by jaxdog
MSTU/MSTR parity?What is worth more: The largest publicly traded BTC hodler with $16B in assets, or the TREX 2X ETF, which is less than two weeks old? Markus Theilsen of 10X research thinks MSTR is overvalued vs BTC, but this is false. Microstrategy is just turning bullish in sats, and has ~300% upside in satoshis from here. So Markus is either very dumb, or he’s lying. I’m going to say he’s lying because even he states in an article today that “ market-makers may be forced to hedge their short gamma exposure..”, and “…hedge funds holding $4.6B in short positions on Microstrategy shares could face pressure to cover those shorts if the price surpasses the $180 mark. Ok, we’re above that now, and we were above that when he wrote his article. So, which is it? Is it overvalued vis a vis Bitcoin, or are we about to witness an epic short covering? I believe a massive short covering, which is why I went long MSTU. Price parity? I don’t know, but we will see. Good luck out there.
AMEX:MSTULong
by Shammus01
Weekly $SPY Options SPY Options to Kick off October Election is less than a month away. Investors are taking profit and repositioning defensively until after the election noise. VIX over $21. We’re still just 3% off from all-time highs. The next catalysts are rate cuts, job numbers, and earnings. We expect volatility until the election noise settles. This week, we are leaning bearish to start the week. However, the upside trade has the most room for continuation. We are using 15-30 minute candle closes for confirmation. Best of luck! $569 Call 10/16 Entry: 15-30 minute confirmation OVER $568 Targets: $569, $571, $574 $565 Put 10/16 Entry: 15-30 minute confirmation UNDER $568 Target: $565 AMEX:SPY
AMEX:SPY
by PennyBois
SPY/QQQ Plan Your Trade For 10-8 : Gap Breakaway PatternToday's Gap Breakaway pattern suggests the SPY/QQQ will gap up and rally higher - moving away from yesterday's base/bottom. Remember, we had two basing and bottoming patterns over the weekend. Although I don't really count weekend patterns as drivers of price trends, I view them as psychological patterns. In other words, they reflect expectations headed into the following week of trading. So, the basing/bottoming patterns last weekend will likely resolve into a melt up type of trend this week and the gapping/breakaway patterns this week will, as a result, present a strong opportunity to the upside for traders. Recently, I started drawing the "Roadmap" trade signals on the charts for traders. This is an attempt to make things easier for all of you. Allowing you to see where the opportunities are for Options or Share trades more clearly. Ideally, if this works for all of us, then I'll be able to map out 4 to 7+ days of price rotation in clear trade triggers for all of us to use. Now, something interesting I wanted to point out is the SPY has just moved into a #3 phase of an Excess Phase Peak pattern. It is a very small pullback off a high - but it is still a valid Excess Phase Peak pattern. If price rallies today, as I expect, this rally will invalidate the Excess Phase Peak pattern and put us into a strong rally phase targeting $605 on the SPY. Gold is getting ready to move into a basing/support zone over the next 18+ hours - then really start to rally higher. BTCUSD has rolled downward - just as I expected moving into the #3 phase of it's Excess Phase Peak pattern. Again, if you are not paying attention - I'm picking apart all of these charts very cleanly and the information I present should be helping you see and identify better trade opportunities. Tell me how I'm doing. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
18