Rising wedge on SPYLooking at this Rising wedge on SPY 1hr that has formed after breaking down out of the massive ascending channel it had been in. If NVDA breaks it's ascending channel, it may assist with this wedge breakdown on SPY. Looking for an 8 to 10 point gap down on the hourly. Stay tuned! Shortby impossiblebull0
SPY short / support identificationPossible trajectory of SPY for the month of January. Trends look similar to price action from July to Nov but on a smaller scale (about 1/3). MA action similar as well (9, 20, 50; dark blue, light blue, yellow). Based on that scaling I drew a projected path for the price action. Support around $458 near the end of January seems possible. Shortby ShadaabResearch3
Confirming Chart Patterns Through Volume AnalysisVolume Analysis: Confirming Chart Patterns and Institutional Interest in Minervini's Strategy Introduction to Volume Analysis in Minervini's Strategy In the realm of stock trading, volume analysis stands as a critical component, especially in the methodologies championed by Mark Minervini. Renowned for his remarkable success in the stock market, Minervini's strategy incorporates a nuanced understanding of volume analysis to enhance decision-making and identify prime trading opportunities. This section delves into the integral role of volume analysis in Minervini's approach, emphasizing its function in confirming chart patterns, signaling institutional interest, and understanding market sentiment. Volume Analysis: Confirming Chart Patterns and Institutional Interest in Minervini's Strategy Confirming Chart Patterns Through Volume Analysis Volume, the total number of shares traded in a given time frame, serves as a powerful tool in verifying the strength and reliability of chart patterns. In Minervini's approach, a chart pattern is not just seen through the lens of price movements but is also analyzed in conjunction with volume. For instance, when a stock forms a pattern like a cup-with-handle, Minervini looks for an increase in volume as the stock breaks out of the pattern. This increase in volume is crucial as it confirms the pattern's validity and suggests a strong buying interest, increasing the likelihood of a successful trade. Volume Spikes as Indicators of Institutional Interest Minervini pays close attention to volume spikes - sudden increases in trading volume. These spikes are often indicative of institutional buying, which can significantly impact a stock’s price movement due to the large quantities of stock bought or sold by institutions. When a volume spike coincides with a breakout from a recognized chart pattern, it is often interpreted as a strong signal. This is because institutional involvement can provide the necessary momentum for a stock to sustain its breakout and continue its upward trajectory, making it an attractive trade opportunity. The Significance of 'Quiet' Volume Periods Equally important in Minervini's analysis is the recognition of 'quiet' volume periods. These are phases where volume is below average, often observed during the formation of the 'handle' in a cup-with-handle pattern or other consolidation patterns. Quiet volume periods suggest that selling pressure is diminishing and that the stock is not facing significant resistance. For Minervini, these periods are a key indicator, as they often precede strong breakouts. The rationale is that when a stock eventually breaks out on high volume after a period of low volume consolidation, it indicates a renewed interest and a potential change in trend, making it a prime candidate for trading. In conclusion, volume analysis plays a pivotal role in Minervini’s trading strategy. By integrating volume analysis with chart patterns and understanding the implications of volume changes, Minervini crafts a more complete and robust trading strategy. This approach not only enhances the probability of identifying successful trades but also aligns with his overarching emphasis on precision, discipline, and risk management in the pursuit of stock market success. Educationby JS_TechTrading2
General Market Direction - Lead LagIn these charts I show support and resistance levels for Mega Cap AMEX:XLG , S&P 500 AMEX:SPY , Mid Cap EGX:SPMD and Small Cap Stocks AMEX:SPSM . If the saying is true that some tides rise all waters we see that Mega Cap is leading the way and soon to follow should be the rest of the crew. This is what I am watching for in the markets today. If Mega Cap can not rise all waters then we have a problem. Just something to keep your eye on today and I appreciate any thoughts you have.Longby JoelTCampbellJr0
$SPY $SPX $ES_F Trading range for Jan 10. 2024 AMEX:SPY SP:SPX $ES_F Trading range for Jan 10. 2024 No, we don’t have CPI tomorrow… LOL. It’s on Thursday this month. So we are right on top of the 30min 200MA and right underneath the rest of that down gap from the new year down gap…. The trading range looks pretty balanced and I’m hoping to see a break below the 30min 200 and a move lower. That’s just what I’m set up for. Come watch the video for the full walkthrough and have fun tomorrow, y’all. Shortby SPYder_QQQueen_Trading4
The SPY will drop after Jan. 19, when USA hits the debt ceilingThere is a triangle forming a peak around Jan. 19th, when the US hits the Debt ceiling. The weekly indicators are signaling a downward movement. The SPY will start to fall the week after Jan. 19th, hitting the bottom around Jan. 30th. After that, I believe there will be a short zig zag movement (abc wave) where it continues to head down. But I will draw another chart if I think that will happen.Shortby PrincessgirlUpdated 3
MegaPhone Mon$ter!!Mega Phone Pattern, Stay focused. stay in the know of how to trade this monster pattern. o r learn it. DYD. Be open minded always. There n M in this Megaphone. Over all, taking on the bearish bias. Shortby TJames919332
Peak of the Triangle hitting Feb 19, the US Budget deadline …There are 2 deadlines for the US in the future impacting the market. The first deadline at midnight on January 19 includes the following areas: Agriculture, Rural Development, and the Food and Drug Administration; Energy and Water Development; Military Construction and Veterans Affairs; and Transportation, Housing and Urban Development. Next on February 2, the remaining areas would lose funding. These are: Defense; Commerce, Justice and Science; Financial Services and General Government; Homeland Security; Interior, Environment and Related Agencies; Labor, Health and Human Services and Education; The Legislative Branch; and State and Foreign Operations Missing these 2 deadlines could result in partial or complete government shutdowns. There is a triangle forming with the peak hitting at around Feb 19th, when the first deadline hits. There are 3 possible movements after Jan 19th, which I have outlined as follows … SCENARIO 1: The SPY could go up, but the probability of the SPY going up is slim as the weekly indicators are already pointing to a downward movement. SCENARIO 2: The SPY could have a 100% retracement to the beginning of the triangle at around 409 around Feb 2, where there is a second deadline. SCENARIO 3: The SPY could retrace downward to the 61% level, around 436. This would be followed by an abc movement. The upward movement would retrace between 38% to 50% hitting around 452-457. It would then go back down to around 424 or lower. This abc movement would happen within a couple of days to 1 week. The anticipated end date of this pattern formation would also be Feb. 2nd. Shortby PrincessgirlUpdated 1
$SPY January 10, 2024AMEX:SPY January 10, 2024 15 Minutes. SPY opened with a gap down. For the rise from 466.4 to 474.75 it was around 38.2% retracement. The second bar closed near the top, at 200 averages. The third bar closed above 200 averages triggering a long buy with SL 471.25 10 cents below the day low. at that time for a target previous day high around 474.5+ levels. So R: R was approximately $1.25: $2. Not bad for a day setup. We were supported with Stochastics turned up without a black bar on the bottom. Since there was a black bar on top this reversal was bought which was also supported by the Elliott oscillator being green. And in due course, black on stochastics top reappeared supporting our view. Now for the day, we have a 50 average crossing 200 in 15 minutes, holding 472.5 today i will be long. I believe once more we will have the Wednesday or Thursday trade setup in SPY to make some $$. Also for the fall, 477.55 to 466.44 AMEX:SPY has closed above 61.8% of the retracement for the fall being 473.3.Longby RiderTrader0
SPY Republishing my targets for my knowledge and learningBeen experimenting with various indicators and I try to keep it simple. The hardest part for me is to find a target using Ichimoku. I try to use and relearn Fib and pitchfork My Target is 475.33 and my support is the Kijun support and you can see it clearly here which is 466.68! LFG Now to the hardest part. I think I have learnt enough but I realize that it is a continuous learning and it is never enough. If I were to have knocked the patterns outta window and if I were a guru it should show in my bank balance, no? Ironically no. This means I have to make this a habit and post regularly Please let me know what you think so that we can all grow together Longby trikkone1
SPY: Bullish Forecast & Outlook It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current SPY chart which, if analyzed properly, clearly points in the upward direction. ❤️ Please, support our work with like & comment! ❤️ Longby UnitedSignalsUpdated 222
Potential Head and Shoulders and Hidden Bearish DivergenceThere is the possibility of a potential head and shoulders forming on $SPY. It does look like there is hidden bearish divergence on the RSI forming on the hourly indicating more selling. Additionally stochastic momentum index is flashing sell. I would wait for the RSI to cross SMA for confirmation, but then I am looking to swing short. Shortby FinCodeToad0
$SPY level analysis for 1.9.24 These are the levels I will watch for potential day trades and scalp setups.by RagsToRichesCharts1
$SPY $SPX $ES_F Trading range for Jan 9. 2024 AMEX:SPY SP:SPX $ES_F Trading range for Jan 9. 2024 Tomorrow’s Trading range to go with tonight’s video. We closed just a tiny bit under where we closed 2023 so last week we had a stairs down week and then today elevator back up to where we closed last year. That’s a bit backwards for sure. Come check out the video tonight and let me know what y’all think. Shortby SPYder_QQQueen_Trading3
$SPY January 9, 2024.AMEX:SPY January 9, 2024. 15 Minute. In 60 minutes I was bearish because the 200 average was around 475, a black bar in stochastics was at the bottom, CCI was red and Elliott Oscillator was red. All bearish signals for me with 475 as a turning point. In 15 minutes also we can see a similar pattern. But once the 4th bar of the day in 15 minutes, we had a stochastic black bar on top being formed. This gave an indication of a trend change happening and instead of a sell, I need to look for a long entry with a target around 475 level. that happened on the 12th bar of the day in the 15-minute time frame. The red line was the box being and for the first time, we had a close above that line during the day, signaling a breakout supported by a black stochastics bar on top, Elliott oscillator green, and CCI green. Buy above 471.4 was triggered with SL being 470.3 the low below small box. So we had a setup for a reward of $3 and a risk of around $1. trade was closed around 474 levels as it was near the end of the day. For the day now we have to consider the rise from 466.44 to 474.75. Holding 470 levels uptrend will continue. Now in the 60-minute chart image attached, we can see the black bar of stochastics is not on top yet. So sell on rise is still active when stochastics turn below 75-70 levels. In our chart 45 is still a trend change number. But I need to be supported by a black bar in stochastics on top. So 475 trend change possibility with 469 as support for the day for a buy. 200 averages in 15 minutes are around 472 and 50 around 470. Once 50 crosses I expect a move on the long side maybe on Wednesday.by RiderTrader0
SPY update 9th Jan 2024I have clearly explained and have shared the screen shots for the very last time of my trades in this video. Always be on the right side of the market. NOTE:ALL TIME HIGH ON THE WAY FOR SPYLong07:08by THECHAARTIST171711