AMEX:SPY 4hr chart. A deeper look into previous posts.
Not looking great as we head into #FED and NASDAQ:AAPL earnings to close out this week. The weekly 21 EMA is 494ish. If 500 breaks then that would be next level of support to watch.
Looks like a lower high, lower low, lower expectations fro AMEX:SPY today. Hopefully stays under 507.
Looks like AMEX:SPY wants to dump, but the Stochastic indicates that bargain hunters and dip buyers are starting to grow impatient
I have tried to highlight possible support areas if a down trend starts
Here is a chart of SPY with the support and resistance outlined based off volume. TA can help you predict where price can go, and based off the current level its going sideways. This coming week we have earnings and FED speak on Wednesday from Powell. With inflation elevated and not appearing to decrease we can hear the same rhetoric from Papa Powell himself....
Before the massive sell off, SPY just had a small gap that needs attention. Then, plop plop plop. Chocolate Banana time
I have zoomed out to larger timeframes on AMEX:SPY to come up with some larger / longer timeframes. Here is what I started with; the weekly chart (shown) then zoomed out to the Monthly Chart (not shown) to draw the February 2009 trendline. I came back to the weekly to find the March 2020 trend. I then looked that the latest run starting in October 2023. That...
Why can't we just go higher from here? Everybody seems so negative -- and indeed I'm more neutral than bullish right now but $480 is just as possible as $530 and we really just have to wait out earnings season to see which way we get smacked first. I was bullish (then netflix happened) then bearish (then explosions over the weekend) then bullish (then people seem...
The confluence at the lower lever and the 1 hour chart reacting at that level has me buy a very small low risk call option trade.
Small swing trade (I am currently not trading futures, have in the past. Only due to my time zone - Market opens quite late for me like 1:30am). *I am not in this trade but I think this is a likely outcome in this moment but it depends* Purely fundamental
Traders, Given: SPX (SPY) is used as overall market index. FED remains the primary determinant for overall market movement. All major indices pulled back last week. SPY failed to reach its 100DMA in the pull back. QQQ overshot its 100DMA in the pull back. GDP reports Thursday Pre Market. PCE, Personal Income & Spending reports Friday Pre Market. ...
Good Morning Grazers, Little birdie is showing close to 20m puts expiring on Friday April 26th with strike 510 , by the same token the biggest $ on puts is 490. In addition there is some heavy concentration of both at level 505 which may be a 'hot' level this week so be mindful entering S or L at that level. If you consider Friday the ERL of SPY we are heading...
Love it when a plan comes together. Watching 492 this week as it is the 21ema on the weekly chart. Need to see where the weekly candle closes on Friday. A close below hints at more downward momentum. A close above would take confidence away from the bears as we head into May and await fed data.
Keep an eye on 493.50 tis week as that was an important support. If it gives then I would image some love for buyers will be found around that demand volume shelf in the high 480s. If no love is found there then the 470s demand zone will likely be the target for now.
Even though I was interrupted by a phone call (lol) hear the end of this video, it still clearly illustrates how to use Fibonacci Price Sprials in conjunction with Fibonacci Price Theory to identify breakouts and targets. Remember, I don't believe Fibonacci Price Spirals are very useful for targeting/predicting trends. I do believe they act as a means of...
AMEX:SPY April 21, 2024 15 Minutes. As expected the downtrend continues. Two issues. It is coming to the lower parallel channel in the move. And oscillator divergence. I expect a retrace to 498-500 levels. As I believe once 492-490 levels broke I will have a target of 495 which is 32% retracement for the larger move 409 to 524. 409 I have taken because...
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...