SPY WEEKLY 22 JAN 2024This is my analysis for SPY. All the levels have been discussed. Make sure to learn everything and then trade. NOTE:WAIT FOR RETRACEMENTLong08:28by THECHAARTIST181815
$SPY January 20, 2024AMEX:SPY January 20, 2024 15 Minutes. I had old my position pre-open at 478.6 levels as I had expected resistance as marked in a green rectangle in the chart. The open bar was not good. Closing near low and inside parallel channels. But sell was negated by the Elliott oscillator being green, a black bar on stochastic continued to be on top, and CCI green. Once I had a break out above the box, i waited for the high to be taken out. The fifth bar broke the high and I bought at 479.6 level. And was supported by the three as mentioned above. I exited at 482 levels. As the bar making high had closed at the low of the bar, and the price was way above all moving averages for a 15-minute time frame. Now for Monday, I will consider two rises as : 472.42 to 482.72 and 478.21 to 482.72. I will wait for a retrace to 476-478 levels before taking a call. Also in a 60-minute time frame, the price rise is steep. So a pullback can be expected. And if pullback is not coming we will have sideways movement until the averages catch up. So I will wait. Shortby RiderTrader1
SPY Projection until AprilThe circles are predicting that SPY will run mostly sideways til it tops out near the end of April. Will it come true? Who could possibly know?by miri1aj110
Looking for a swing call at close TODAY on 1-19-24.Thank you as always for watching my analysis. May God bless you! Remember, this is not financial advice.Long01:43by OptionsMastery1
Volume short to 479 abcd extension on money flowRisking some profits on a Volume short. Abcd extension by money flow. This is a scalp tradeShortby moneyflow_trader19193
Not a Correction in S&P 500 (SPY)...YetA bare minimum correction of 3% in the S&P 500 ETF (SPY) is still nearly two percent beneath today's closing price. More pressing, fear as evidenced by the VIX has only just begun to show any indication that what goes up, will invariably go down. Today's closing bump of about 7% in the VIX and absolute levels that are still sub 15% is far from helping the bull case and pointing at the current pullback in the broader market, as a decent entry point for investors. I'd be more intrigued in a SPY purchase once a correction has grown to a minimum of 5%. A decline of that size tests the former highs, a couple retracement levels since the October low and should coincide with relative, if not absolute fear levels making a guest appearance on Wall Street. by tyler.chrisUpdated 0
SPY Week of Jan 15I don't really have much to say about SPY, so I will share the levels. My overall impression is its going up to at least 480 / 481 before we see any major selling. It is playing its peak-a-boo games with that monthly threshold level but it just always goes up no matter what, and even when it sells it recovers with a vengeance 1 day later, so its probably going to stick to that thesis. I am long on it, so probably will sell next week. But I am just trading the bigger picture at this point which are those 3 month and annual targets. There are also some bullish targets on DJI for the year: All in all, just bullishness everywhere. But like I said, I am swinging this with the bigger picture in mind. The PA is too all over the place to try short-term swinging and I am finding it hard to try and time things for shorter term swings. But I want to swing more this year so the best I can do is just buy and hold haha. It does seem the 480s are the sweet spot for this week though, especially if we look at a breakdown over the volume ranges: The lighting of the green means buying volume is increasing in this zone. So the consolidation we saw on Friday increased buying demand volume in a pre-existing demand zone. If we look at it from a different perspective: This zone ends at 481, placing the immediate target at 481. Falling below 472.08 and we are in a sell zone and may see this sell all the way down to 462. As of now, my money is, literally, on the upside. Keep in mind I am in shares with the plan to increase size if we sell, so don't follow me long just because I am long, as I am positioned a bit differently with a laid-out plan (sort of haha). For day trades keeping it at SOX and, sometimes, IWM. I got whipsawed to death on Friday though and was barely able to break even, but managed. What a mess of a day that was. So here's hoping for some good trendy day on Monday. It has been the theme lately so, let's count on it :p. Those are my immediate thoughts. Safe trades everyone! by SteverstevesUpdated 565628
Re-entering the SPY Bear Call Trade with Wider Margin of SafetyIn this post, I will discuss a re-entry of the same trade, but with a wider margin of safety. I sold a call option with a strike price of $498 and buying a call option with a strike price of $502 exp 16-feb-2024 Reasoning for the Wider Margin of Safety: There are two main reasons for the wider margin of safety. First, the SPY has been trading in a very strong uptrend in recent months. Second, my proprietary indicator is signaling a potential reversal in the market (over 95 percentile). Risk Management: I am aware that I am entering a trade against the trend. Therefore, I will be monitoring the position closely and will be prepared to exit the trade if the market continue with a faster trend. I have placed a stop loss order at 3 times the premium that I collected. Conclusion: I believe that this trade has a good chance of being profitable. However, I am aware of the risks involved and I am taking steps to manage those risks. I will be updating this post with the results of the trade on the expiration date.by pietropaolog441
Opening (IRA): SPY February 16th 449 Monied Covered Call... for a 442.57 debit. Comments: Buying stock and selling the -75 call against to emulate the delta of a 25 delta short put with the ability to defend the position immediately on test of the short call or the break even. Metrics: Buying Power Effect/Break Even/Cost Basis: 442.57 Max Profit: 6.43 ($643) ROC at Max: 1.45% ROC at 50% Max: .73% Will generally look to take profit at 50% max/roll the short call down on short call or break even test. Will look to ladder out in longer duration at intervals.Longby NaughtyPinesUpdated 1
Inverse head and shoulders on SPY??If this breaks out we will see a fat pump... Keep your eyes peeled. Longby The_Gains2
SpyPrice has formed a rising wedge here.. I think we she get one more push here to 480 before pulling back to 465.. Nasdaq or IXIC Price keeps bumping its head on this trendline resistance. This resistance hasnt stop stocks like MSFT, NVDA and a few other of the 7 for making new highs but if you look at the price action overall on tech you'll see its been horrendous.. imagine knowing the nasdaq will rally 2% and you swing AMD calls and then AMD dumps but meta surges 3% ... pure fawkery.. but this is what happens when Nadaq trades near resistance, all stocks wont make it, the air is thin up here lol. NYA/Nyse 4hour chart Trading in a 200pt range Could be a flag for a major leg higher or distribution before the correction A close below 16,700 and its a correction A close above 17,000 and Spy is going to 500 DJI Dow jones Levitating here between 37,400 and 37,800 Similar diagnosis as NYA. Financials, transport and Healthcare affect the dow the most. Last week Financials finally pullback and Boeing led transport down. This weel i think Health care leads the way on pull back.. XLV has had 9 straight weeks up , closed outside weekly bbands and at the top of a 4 year range Es I can see a more clear bearish scenario here Double top to close gap at 4600.. price keeps getting rejected at 4840 This my #1 leading indicator of any pending hard correction Vix.. if the vix closes over its daily 21ema and 50sma then it will be risk off .. So far the vix has bee getting rejected from its 50 since theNew years but the fact that it keeps tagging it should worry bulls.. the next time the vix closes over 14, the vix will be headed back to 20+ by ContraryTraderUpdated 3316
SPY H4: CORRECTION FOR SELLER IN THE DOWNTREND SPY H4: CORRECTION FOR SELLER IN THE DOWNTREND Here you can follow my technical and fundamental analysis, after reading chart pattern it may fall to my target. Be Patience and stay strong with targets. Note: Keep following me for more information and analysis.by Forex_789Updated 5512
SPY overview - Jan 19Yesterday after gapping up, the market tested the Jan-17 High/Close. Then broke through 8EMA and closed strong. Now the nearest support level is the short-term moving average - 8EMA. The nearest resistance levels are now at 478.60, together with TRL. It's important to note that yesterday's move was driven by strength in the semiconductor sector as well as the leadership of megacaps. The big question for me now is which other groups of stocks the cash will flow into and whether it will flow anywhere else besides megacaps.by ivanistrading2
$SPY January 19, 2024AMEX:SPY January 19, 2024 15 Minutes. The short was taken as it was gap open. The subsequent 2 bars were green with close near the top of the bar. Also, we started to have a black bar on top of stochastics supported by Elliott oscillator green and CCI green. And once 475.5 was taken we had a trend change to go long. If we consider the rise of 464.44 to 478.6 AMEX:SPY retraced to 61.8% being 470 levels. So I expect a resistance around 477.5-478.5 levels for this current move. The current long will be closed around 478 - 478.5 levels. For the day if we take the last rise of 472.42 to 477.05 AMEX:SPY need to hold 474 levels. Longby RiderTrader0
I Don't Always Chart Distributions, But When I do, I WYCKOFFHe wouldn't be afraid to show his Bullish side, If he had one. His mother has a tattoo that reads... Bear. On the Crypto markets, He's allowed to touch the coin. He is, the most bearish man in the world. Shortby SPYvsGMEUpdated 889
We held off the apocalypseYep, it was just that easy. Honestly don't know if there was any other outcome because the drop wasn't really strong enough but looking at this lazy susan makes me certain we'll see $480 and unsure we'll see $460. If it's been pushed back, it's at least Feb now.Longby pogicraftUpdated 111
Diamond Top Reversal on $SPY?Rarely do we see Diamond Top Reversals, but this setup looks like a potential downward trend reversal AMEX:SPY by ItsAirplaneJaneUpdated 0
up up and awaybeware the doom and gloom. market has a tendency to go up during election years.resistance around 485. Longby Oppollo1
SPY Short-term supports - Jan 18Yesterday, the first support zone - 21 EMA (green on chart) - was confirmed. In case the price loses this zone, the next potential support will be the left shoulder level of Inv. H&S (467.80). If the price goes lower, then we can expect a reaction from 465, which is ATH. I'm also considering here Bottoming Support Trendline as potential support. by ivanistrading1
Looking for a bearish swing very soon!Thank you as always for watching my analysis. May God bless you. Jeremiah 29:11.Short01:36by OptionsMastery0
$SPY January 18, 2024AMEX:SPY January 18, 2024 15 Minutes. Gap down at open. So no trade as 471 which was the target for short was achieved without a pullback. The 15-minute chart not looking good. The downtrend is intact. For the day 475.5 needs to be crossed for a trend change. Since SPY is below 200 averages I will short at 473-474 levels SL 475.5 for lower targets as LL HL pattern is also under formation. The only consolation for the moment is SPY took support at 20 averages in 60 60-minute time frame and that bat closed ner high of the bar. So once 469.75 breaks I expect selling to continue for a target 464-465 level being 61.8 retracements for the rise 448 to 478. Shortby RiderTrader0
We either bounce or break support.directional movement testing support Demand is around 467, bounce support 470-472 could test highs again But just a coinflip. We still have CPI higher than 2% Jpow won't be giving us rate cuts for march most likely. It's been 226? days since SPY has seen a negative %2 day. A lot of bad but markets like to go up. Does a bad economy mean a bad market?by JustAHunch0
SPY Price Action should have you CAUTIOUSFeels like mirrored price action from yesterday just a leg/gap lower. Expecting the same type of gap down tomorrow. 10x 470P 1/19 SPY Notice the end of day strength... Arnold says "Get out" -Proffesseas 349pmShortby Prophecies_R_Us1