$SPY $SPX Analysis, Key levels, and Targets
WOW, what a face-ripper week so far…
5.82% in two days!! And nice volume today too…
I sold 386 calls against both my shares, and my Jan 350 calls… right now my calls are up 22.3%, I’d love to see spy at 384 by Friday…
Also remember that Friday at 3pm is consumer credit report... which will, in my opinion, be a...
climbing back above extreme support area, and perfect bounce from extreme RSI support.
but we are at trend resistance now, if it can break it/379 we will see push towards 400. lets see what happens
SPY is potentially forming a head-and-shoulders pattern on the daily TF. We spoke about our relief rally targets the other day being the Golden Pocket FIB retracement from the Sept 12th breakdown @ $390, which happens to be right @ the 100EMA resistance level.
If we get the GP retracement, that would give us a perfect right shoulder for the H&S pattern.
The...
Resistance turned support at around 373 area must hold for SPY to continue the bullish move.
Either way I would wait for confirmation before getting a position.
Bull case: target 380, 387, 395
Bear case: target 373, 360, 353
Good luck
Hey traders,
Given that the 3rd wave down on this current bear cycle exceeded the previous one in magnitude (-13.28% vs -10.03%) while matching in speed (14 bars each), the chances are quite high this retracement will find, eventually, more legs lower, to complete an ultimate 5 wave-count move down.
Whenever, in a sequence of waves, you get the current...
Looking to wait on hourly candle to close to identify the move. Right now sitting in consolidation in a strong hourly level. Waiting for a close and retest on 379 Level for Calls and 373 Levels for Puts.
Downtrend monthly/weekly/daily. Positive employment data this morning may be driving the market lower in the pre-market hours. Intraday levels of interest for my trading are in the video. This video is not financial advice. Trade your own trade.
Ok let's talk about that nice "strong" candle closing above a nice resistance level and filling the gap the same day. BUT WTF with that volume!!! take a look at the volume from Sept. 30! a smaller candle but look at that volume.
We might be in a wave 4 just as the @qqq and it could go up to the $395.~ area. But I honestly would like @SPY to go to the $338.~ area...
Real nice reversal here on the weekly chart with both the MACD and RSI showing us that a bullish divergence is happening here at historical support.
A common retracement from the highs would bring us back to 400 at the 382, and 429 at the 618.
Looking at the structure of this wave down and lower low double bottom, we could anticipate a reversal as high as the...
US jobs hit a 14 month low in August down 1.8 million, so why the market rally well people think this will make the feds pivot. I don’t think they will but what do I know. I think this rally was due you can’t hold down the greatest country in the world forever. Everyone talking about being oversold and people love a good bargain. 382 to 385 will be interesting to...
We are all looking at the same chart and thinking the same thing. SPY COULD have a serious bounce on the 200ma with a POSSIBLE bullish divergence on MACD and RSI. Many have already begun to FOMO into a possible year end rally as we have been rallying hard the past few days. This year is also a midterm election year (midterm election years usually have a rally...
Looking to mitigate the 45 min demand and move up on the chain towards the daily supply and the 4 hour supply move could be 5+ with proper entry and risk management
🖼 Daily Technical Picture 📈
➤ The United Nations (UN) is meant to save humanity from itself. I guess a floundering equity market does meet that remit especially with rumours of Credit Suisse troubles. Also, think of the millions of Baby Boomers who are retiring every day. They need to sell off their risky assets (i.e. equity portfolios) to buy safer alternatives...
No floors are present in this gap. Could be a bull-up to a super dump, dump needs momentum to dump so that a reversal is impossible, a good idea to raise the market about water and then take it's life jacket away.
Looks like the weekly 200 day moving average stop it from falling further. We will have to wait till next week for cpi numbers but I think any pullback could be an entry long oportunity as long as it holds, you might want to buy put protection just in case.
So far the last that spy made was Supported by the weekly 200 EMA. This was a great area for a bounce, the only other time that we broke the 200 ema on the weekly timeframe, What is the Covid crash. If we look at the monthly, we are supported by the 50 monthly EMA. So that last low was actually a pretty decent spot for buyers to step in. In history, the 50 monthly...
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