SPY is getting oversold on the 4hour and 1 day charts, we are almost at the bottom of cloud support and Fibonacci support bounce targets are $511 and $517 before resuming downtrend.
SPY on the weekly chart is up 25% in the past six months. This is beyond its historical norms even during a presidential election year. While there has been some volatility in both directions the climb is consistent and persistent. The indicators serve to document this. The predictive algo predicts more of the same. A price cut when the fed gets around to it...
AMEX:SPY 4 hr looking strong. NASDAQ:MSFT , NASDAQ:GOOG , NASDAQ:GOOGL , NASDAQ:META all report this week (W-T) Trend line converges with monthly resistance. We'll see.
... for a 4.50 credit. Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the S&P 500 ETF. Here, adding a strike better than what I currently have on in the August expiry. Will generally look to take profit at 50% max.
So, this is a slightly different look of another chart. Basically, we might be seeing this play out in real time. This pattern is scary where the price currently sits. and to where it can head. What is the pattern? Trace 2018 to Covid and then into recovery and correction. Bring that to the current move, pattern, wave... whatever you want to call it. It's...
Recap: SPY is currently in a corrective wave using price action on the higher timeframe. Corrective waves are completed after 3 legs (A, B, and C) … Each wave has 5, 3, and 5 legs per wave respectively. A (5 legs), B (3 legs), and C (3 legs). There are other specifics but I will not go into detail. For now we are operating within wave A, soon to be wave B which...
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Like shown on the chart. Spy can continue downtrend in 4 ways. Since rsi is oversold. Just be patient and wait for price action on each level. Whenever spy reaches those level on higher timeframe switch to 5 mins timeframe and wait for price to atleast break nearest demand zone for downtrend continuation.
I will be very surprised if we don't see some serious sell-offs throughout the market in the coming days The chart and the volume are... impressive.
AMEX:SPY April 18, 2024 15 Minutes. Closed shorts yesterday at 500 in SPY. We have 494 as a daily 100 average and 21 in weekly. At the moment I do not expect a trend change to long. I expect any upside to be resisted around 506 levels being 50 average in 15 minutes. If we consider the fall from 517.28 to 499.12 we have 61.8% retracement around 510 levels....
Charts remain very bearish for the Stock market using spy as reference. This is a quick small update since I am in a hotel using my hotspot, but I wanted to send out an update.
AMEX:SPY April 16, 2024 15 Minutes. As expected 505 levels in SPY. Opened gapped up. So after the first 15 minutes a sell below was triggered for 515 was a level to short as planned. As expected 50 day average was touched in daily. Now for the rise from 493 AMEX:SPY has retraced 61.8% levels. Crucial to hold for any uptrend to continue. If this level is...
My dear followers, I analysed this chart on SPY and concluded the following: The market is trading on 510.83 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 515.64 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to...
hypothetical expectation on SPY - head and shoulders before the big drop?
Disclaimer: This is not financial advice. Please trade responsibly and at your own risk. Optimal Entry Point: Aim to initiate a position around the price level of 515. This level is identified based on current market analysis and recent price behaviors that suggest potential profitability. Critical Resistance Zone: Watch for a clear breakdown in the price range...
Spy printed a SELL signal last week. Targets in the short term are $505.94, 492 and 478 where we have quite bit of support. Nothing goes in a straight line so sell the rallies!!
Looking for a gap close at 509 by End of week followed by a bounce back to 518-520 before the next leg down to 497.. Ascending broadening wedge here. Vix 4 hour chart.. is flagging for a move up to 18 . Dow jones Bear channel formed here. Next target is 37,800.. I expect a dead cat there before fi al target of 37,000 Nasdaq or IXIC Looking for 15,930...
SPY looks set to close below the SMA 20 with an RSI < 50, which isn't great. Just getting an overall toppy feeling and expect a correction to the $486-495 mark if there's a break of the highlighted volume node. CPI was also hot so that weakens any idea of a rate cut this year. Anything can happen and I'm not looking for a short yet, but if there's some more...