Levels to watch 03/06/24Spy continues to push higher high's and is currently consolidating after relentless buying. No bias, just level to level. -Keep in mind she has been respecting the 50 MA on the hourly charts. by Spyoptions5000
$SPY March 7, 2024AMEX:SPY March 7, 2024 15 Minutes. The gap at open to 510 levels did not allow for a short. AMEX:SPY taking support on 200 averages and is consolidating for a move. The moving averages have converged at close. So holding 508 levels I expect an upward push today towards 513-514 levels. The stochastics which had a black bar at the bottom have now reversed. For the rise of 504.91 to 512.05 AMEX:SPY has retraced 50% of the rise, so I expect a top around 514 levels. As we can see in chat the 512 levels become a resistance, hence I feel the next upward move is only when 514.5 is crossed with a close near the top of the bar. AMEX:SPY has managed to hold the gap at 503 very well so far. by RiderTrader558
SPY will (likely) cryWith a containment MA of about 4:1, it's really time for SPY to take a breather. We will see if the numbers of the next 2 days are the catalyst. We will see how far and fast the break is.Shortby MAgicTrx225
Possible upside potential $SPYRepeating pattern when RSI on the 1H is under 30. Momentum did not hit 2 which provides some conviction that there may be some upside potential.Longby The_SPY_Who_Shagged_MeUpdated 330
Correcting SidewardThere is momentum at the moment. :-) Thus it may be done with it and no major correction downward will follow before the rise may resume. And outbreak at the top of the range may make it clear. Stops are essential.Longby motleifaulUpdated 1
SPY - Please adjust to 5 minutes chartI provided the details of Spy Chart on the Picture Below. If you have any questions, please feel free to comment. Disclaimer - Learning how to trade here ;)by l4uren_stew4rt112
SPY - 15Update, made appx 1000 profit - papertrding from 1.06 to 2.11 per contract x 10. please see my previous post. by l4uren_stew4rt0
SPY - IS 510 A TOP? SPY is looking healthy ready for bounce, amazing channel that can bring lots of pleasure day trading, both for longs and bears. Since i set my mind on 510 as a top, today I took a night swing and I am out. I think we may not reach 516 this time and will do correction. Ill be looking for entry to short semis or play some VIX. by abigreenUpdated 116
$SPY intraday trade to gap fill grabbed some puts for a $507 gap fill on $SPY. Entered at the open push. Above $510Shortby TazmanianTrader0
SPY - 15 Minutes ChartI use 5 minutes Chart, tradingview does not allow any users to publish 5 minutes chart. So, My prediction, the spy will go down - the trendline has been cracked, and reached HOD of the day, it's going down. RSI has been exceeded. MACD shows its crossing down.by l4uren_stew4rt110
$SPY $SPX Daily Analysis, Key Levels & TargetsAMEX:SPY SP:SPX Daily Analysis, Key Levels & Targets The trading range for tomorrow looks like it might want to test that NVDA up gap… just under the 30min 200MA… Tomorrow, Thursday and Friday we have a lot that could move markets with two powell testimonies and the state of the union…. just be on guard and know your levels… and also pay attention to volume… we dropped big today, but it was not sell off volume at all…. See y’all Tomorrow 💃🏻 Shortby SPYder_QQQueen_Trading111
SPDR S&P 500 ETF TRUST | Arcajust like big daddy does. the feds cannot let these companies fail, they refuse, and proved it during the money printing pandemic. bullish on SPY, until the day I die. Fun Coupons R' Us, let's go!Longby LeftyOnFire1
$SPY March 6, 2024AMEX:SPY March 6, 2024 15 Minutes. AMEX:SPY opened with a gap down. Hence 508 was broken very easily. It has retraced 50% of the larger rise 493 to 514 levels. If we consider the fall fall 514.20 to 504.92 509.5 to 510 is a good level to short. We have in 15 minutes multiple tops around 513 levels. So need to cross convincingly for an upmove. As a trending day was expected the third bar in 15 minute time frame gave conformation. It went above the opening high but closed near the low of the bar. As per the Elliott oscillator, we have a lower low in price but the oscillator has a divergence. Hence we can assume wave 5 is completed for this move. Since it is a steep fall from 514 to 505 levels I expect consolidation today with a support around 502 levels. by RiderTrader222
SPY S&P 500 ETF Potential Retracement ! If you haven`t sold AAPL after after Buffett trimmed his position in it: Then you need to know that at 12.90%, Apple is the Nasdaq Composite's largest stock by weighting, followed closely by Microsoft at 12.14%. Even though Apple has diversified its product line with Watch, AirPods, and services, the iPhone is still responsible for 52% of its revenue. Today, we found out that APPLE'S CHINA IPHONE SALES TUMBLE 24%, LOSING OUT TO HUAWEI. A downturn in AAPL could have a cascading effect on the overall market!Shortby TopgOptions117
SPY: Late postHey everyone, Sorry I didn't get around to posting over the weekend. So my initial assertion was we would pullback into this week; however, there was a 2 hour bullish HA setup that ended off the week: So we were able to take that target out yesterday and then once that happened we starkly pulled back. Right now SPY is just hanging on the bearish condition on the weekly, with a break below and hold we can expect a move to around 507 as the first target. There is also a high prob on the month at 508, so good confluence in that area. My impression is its just pullback, not topping at this point and I actually wouldn't be shook if we saw a swift sell followed by parabolic right back up. I just wouldn't get long right here until we see that 507/508 zone and it is indeed held as support. Just my thoughts! My bias is still bullish overall at this time until we can see some catalyst for bearishness (fundamentally). Safe trades everyone!by SteverstevesUpdated 4431
S&P 500 prime for a correction, BUT are we done with the run?How long do we stay below 5400 - SP500? is the real question. Are we going to see a sideways range through the fall? Do we get a rip roaring 10-15% correction and "L" or even better "V" recovery? The path does not matter as much but here is my commentary anyway. I think that we see a temporary high in early April as we power through the rest of Q1 earnings then take a breath.12% correction? -> 480 looks like a good support? over a couple months? May usually sucks, do we see a bottom in May with the "sell in May and go away" crowd? But I cant imagine much of a stay there with a gap down 5% bull run or a 3% turn around Tuesday. Not to mention the June cut expectations that will get early mover money flowing. I think the news goes with the fed cuts rates minus some black swan. You can almost mark our cycles to the fed rate decisions over the past 3-4 years. I could see a build up into June with expectations of rate cuts. Inflation remains in a downward trend. Manufacturing has been contracting. The big R word won't go away! Tax returns may stem a few more higher inflation readings that scare the market. Good correction fodder. But also good rate cut fodder. My Elliott wave charting (my own work) tells me that we could be near the top of wave 3 with a wave 5 to go. (Mind you I believe this is part of large wave 3. LETS GO 2025. Years of the bull. ROARING 20s.) Billions of dollars of stimulus sloshing around. Intel microchip plant in IN. Ford Blue Oval in TN Toyota in NC. Look at United Rentals.. Looking at their revenue a 40% increase since pre stimulus. 300 % increase in market cap in the same time frame. Maybe you want to say "but Zaphod... inflation". Even if you say the price has doubled for market value rentals, that is still 150% increase in expectations. Growth is expected with a 20 PE. That is a massive amount of building. Building infrastructure to support technology advances, our massive vehicle trash pile, the AI revolution, war machines, airplanes etc... Billions of dollars, then billions more dumped into these projects. Small caps and medium cap: Russell 2k, Even split SP500: The catch up trade could certainly drive us higher into 2025. All the billions that people just cashed out of Apple and Tesla(watch out below!), just looking for a new home. Let the rate cuts come and watch the second half of this year explode. 5800? Final note for today: exponential growth is going to continue until the collapse of society. 2% inflation charted is still exponential. Stay in the market, be a bull, you win more. You will hate the wild rides down unless you are patient and GREEDY when the fear is real. I am obviously making all this up to fan my biases so do your own speculating. Comment the thoughts below. Longby ZaphodBeebz0
SPY will cryAbout a 4 to 1 containment MA. I don't think we are done with the correction. Watch the 500 level carefully.Shortby MAgicTrx0
SPY Correction Coming?Hello everyone! First two new charts for 2024. Another year another upside logic market. We're breaking ATH with continually decaying economic data, new banking troubles, new wars, and an election year and markets ignore it all. It's a Fed controlled market so mysterious!? Anyhow, in this chart I did a vague not so accurate EW that began Jan 2022 that bottomed in Oct 2022 which basically bounced off the Feb 2020 highs which pushed us into this new bull market. We finally broke the ATH for the S&P today with 5015ish, which makes me believe we should soon see a corrective wave hit. The first support will be early Jan support of 475. If this stays within this channel, we should see the correction over (C) at the same level as (2) of the bear market of 2022 which is March/April of 455ish giving us about a 10% correction. Now, this is all IF markets go as planned and there are no external factors influencing selling such as a larger scale geopolitical war, banking failures and so on. This is based off a market that is going at the current pace. That being said, I do see a major geopolitical event that will shake markets to their core but until then, we base our market moves on the Feds dovish nonsense. Technicals: - RSI, MACD are about peaked. - VIX is at critical levelsby WorldEconomicsUpdated 7
Whew Chile... I SPY a rising wedgeScared to jump in! I will say that since Nov, it's been extremely important to recognize patterns and implement strategies to participate in this fast moving bull rally (tight HH & HL). This 2/9 week candle was pretty strong. I heard someone say once that when people missed a strong rally over thinking it (especially big money), we may see attempts to snatch at new ATH. Mark it.... Nov 2023 - Feb 2023 is a modern day example a strong bull rally. And so... I see a tight rising wedge pattern. I'll be looking for Multiple top rejections and a break and retest of the bottom of the wedge. If we do cool off... previous ATH. Doesn't have to happen, but it's my idea. IF we break and retest the rising wedge. www.tradingview.com ***MNDY, WM, SHOP, LYFT, DKNG earnings this week (sometimes i think the mkt holds up to support earnings rallies lol). This week we may get some tight chop at the top.by mommymilesUpdated 221
SPY Monthly MAR 2024 outlook.(FREE SAMPLE) SPY Monthly MAR 2024 outlook.(FREE SAMPLE) > BULLISH 📈 Closing Price: 504.89 Target Price: 517 High Range: 615 Low Range: 418Longby putIQ1
S&P 500 at Strong Resistance, Short Trade Setup for SPXSSPY is trading at a key resistance level, the white resistance line that has consistently provided strong rejections for the S&P 500. I am taking a short trade setup by going long on SPXS. Price targets: - Red support zone between $469 and $477 - Red trendline around $433 (price increases over time since the trendline is sloped upwards).Shortby realchartchamp0