$SPY June 17, 2024AMEX:SPY June 17, 2024 15 Minutes/ AMEX:SPY forming HL pattern. Holding 541 uptrend continues. And in 60 minutes it must hold 540 levels. First target is 545-546 range for the week if holding 540 levels. Longby RiderTrader4
$SPY June 14,2024AMEX:SPY June 14,2024 15 Minutes. AMEX:SPY made low 539.59 and did not cross 544.5. For the holding 539.5 levels we can look forward to 545-546 range. In 15 minutes AMEX:SPY made LL 3 times, but Oscillator 5,35 has turned positive. So based on this divergence i expect 539 to be held today as it also happens to be 21 averages in 60-minute time frame. On downside we have strong support at 538 and 536 being 100 and 200 averages in 15 minutes. Bias is long.Longby RiderTrader4
$SPY $SPX Last week’s price action for Review This is just last weeks price action for review and now that I’m going out one contract further than before I want a copy before I clear it to work on tomorrow’s range. Basically this is the chart for the first half of tonight’s video. by SPYder_QQQueen_Trading4
SPY BEST PLACE TO SELL FROM|SHORT Hello,Friends! It makes sense for us to go short on SPY right now from the resistance line above with the target of 531.44 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band. ✅LIKE AND COMMENT MY IDEAS✅Shortby EliteTradingSignals114
Understanding my SPY Cycle Patterns - Bottom-103This video highlights the Bottom-103 pattern and how price action (support/resistance/rejection) can be used to confirm and execute better trades. This is something most traders will easily understand as a BOTTOM pattern reflects a possible bullish price trend - except when price rejects this setup and trends downward. Learn how my SPY cycle patterns can help you become a better trader. Education29:42by BradMatheny3
SPY IMO a small gap down Tuesday morning, dip buyers taking it to another leg high to stop shorts out hitting the resistance, shaping up that nice RSI hourly divergence. Then a straight healthy pullback to that gap fill. Disclaimer: Just an idea, not a trading advice. My position: A few puts 7-10 days out. Scalping + weekly shortsShortby mainaliayush0074
S&P bulls confirm their control; market reaches new highLast week, the Bulls' performance surprised many and some were badly hurt by Wednesday's rally. Followers of this channel, however, hopefully avoided this trap by staying aware that a bullish run was possible given the market's mixed signals. Now, the Bulls have confirmed their control by establishing both a higher low and a new high on the weekly chart. Notably, they managed to maintain this new high into the week’s close. At this point, my bias is 90% bullish. The only concern is the divergence between price action and market internals. While SPX set a new high, there were less stocks reaching new monthly high than lows. Although this isn’t a strong indicator, it’s something to keep in mind if suddenly things start to shift. But until we see clear signs of seller strength, we should remain aligned with the buyers. Disclaimer I don't give trading or investing advice, just sharing my thoughts. Longby hermes_trismeUpdated 4
Cancellation of “Head-and-Shoulders” Pattern. Bears trapThe "Head-and-Shoulders" (H&S) pattern is considered a powerful trend reversal indicator. However, it can also become very costly for new traders. Yesterday, the S&P provided a great example of H&S cancellation. Traders who entered short on the break-out of the shoulders line (and Monday's low) incurred losses after the price returned to the previous day's range and rallied all the way up. Such scenarios happen more often than you might think. To avoid being caught in such traps, it is important to consider two things: 1. Higher Level Context : In this example, the H&S pattern formed on the hourly time frame. But if we zoom out, we'll see that on the weekly chart, the price is in a strong uptrend, currently making new historical highs. This is a very bullish context, with buyers having full control over the price. 2. Price Behavior on the Break-out : Upon confirmation of a reversal pattern, you should expect sellers to jump in and drive the price down as fast as possible. It is "abnormal" to see the price returning to the previous range and gaining acceptance. This is a trigger that something is not right. Some people will add volume analysis on the break-out, but I’m personally not a fan of it, especially for SPY. Educationby hermes_trisme3
$SPY $VIX Today's Trading range in SPY for CPI and FOMC, and PPIAMEX:SPY TVC:VIX Today's Trading range in SPY for CPI and FOMC. CPI just came in better than expected at 3.3 year over year so let's see what Powell has to say today!! GL, y'all... Video version walkthrough version is available. What is your guy's opinion. 3.3 year over year is good - but still unacceptably high when you look at the cumulative effects. I personally hope Powell is Hawkish today!! Shortby SPYder_QQQueen_Trading2
Market Soars with Unyielding MomentumLast week was marked by complete bullish dominance. After positive inflation data was released on Wednesday, the market opened with a significant gap up. The next day, sellers made a sluggish attempt to fill this gap but never came close. To sum it up: 1. Prices are in an uptrend on weekly, monthly, and daily charts. 2. Last week closed strong with almost no seller pressure. 3. There is an unfilled gap from Wednesday, the 12th. So far, this market is fully controlled by buyers. Notably, growth is driven mostly by tech stocks, reflecting a "risk-on" mode of investing. Some people are concerned about the narrow breadth, but it doesn't matter much whether growth is driven by many names or just a few large stocks. While narrow breadth can lead to increased volatility, the fact is that money is being poured into the market. As long as this continues, the market will remain strong. Disclaimer I don't give trading or investing advice, just sharing my thoughts. Longby hermes_trismeUpdated 3
Spy SPY is on an uptrend, and if it pulls back tomorrow, I plan to go long as long as it stays above 544, which I consider a bullish signal. However, if it fails to hold above 540, that would be bearish. by AmyThongbai2
SPY vs RSPSPY/RSP (equal weighted SPX) Reached 2008 levels, surpassing already the 2020 spike. Massive RSI divergence on the monthly chart. RSI as of writing: monthly at 75, weekly at 73, and daily at 81. Very overbought despite the strong momentum. by j_arrieta2
Be carefulSPY is approaching to a major resistance. I think we still have bullish fuel for a few more days. I'll use it to close my long positions and start shorting. Before it drops there will be a fight at that resistance. Just try manage your risk and reduce your short term long positions.by ArturoL2
$SPY June 11, 2024AMEX:SPY June 11, 2024 15 Minutes. AMEX:SPY held 532 and did not cross 536.5. Big consolidation in 15 minutes. All averages except 200 have converged in 15 minutes. So, holding 532 I expect 539-540 as target now, today or tomorrow. (Tuesday or Wednesday), as nearly 5 days of consolidation in 15 minutes. And on breaking down 532, target is 530 being 200 averages. So not time to short. Longby RiderTrader223
SPY $539 Price Target A 528 B 527 C 525 D 518 These were all accumulating zones for the next leg up $539, lets go bulls hope you guys follow the chart you'll be in money lets gooooo!!! Sun June 2 afterhours spy is at 528.80 Will be waking up to huge returns!!!Longby JoeWtradesUpdated 141431
SPY still bullish, holding both the 1D MA50 and MA100.Last time we looked at SPY (May 01, see chart below) we gave a strong buy signal following the 1D MA100 (green trend-line) bottom and we are already well into new All Time High territory: As you can see, the price hit the top of the short-term (dotted) Channel Up and pulled back to the 1D MA50 (blue trend-line) again. This inability to break above the Channel Up, leads us to believe that it will continue to be the dominant pattern, instead of the long-term (blue) Channel Up, and will dictate the price action higher but only gradually. Another test of the 1D MA100 is possible under those conditions that will allow for a smooth hit on our 555.00 long-term Target. If however the dashed line holds, it is possible to see an even more aggressive Channel Up materializing, in which case we will move our Target even higher at 580.00, in order to represent a Bullish Leg similar to January - February 2024. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇Longby TradingShot1119
$SPY June 10, 2024AMEX:SPY June 10, 2024 15 Minutes On Friday as expected rectangle breakout happened with retrace and high also was 536.9. As seen in chart the oscillator 5,35 still has not worked out as expected and AMEX:SPY finding it difficult to break out on upside. AT the moment we are having 100 averages around 533. So holding of 532 is important today. For the last fall from 539.9 to 533.49 4SPY retraced 61.8% to 535.44. Hence uptrend today only on crossing 536.45 levels for a target 538-240. On downside i expect 529-530 to hold if 532 breaks being 200 average supports. It also happens to be 50 and 100 moving average support in 60 minutes time frame. In one hour, we can see clearly. It was a steep rise from 518 to 535. Hence a sideways time correction in progress. So, for the day buy above 536.5 fir 538-539 and sell below 532 for 529-530. Not much of a R: R so I will not trade today, unless I get a good bar in 15 minutes, close near top and good volume. by RiderTrader4410
$SPY June 18, 2024AMEX:SPY June 18, 2024 15 Minutes. As shared on June 13, 2024, setup AMEX:SPY achieved the 546-548 target in one swift move. And we have a sell bar at ATH in 15 minutes at 548.53, close being near low of bar. If we take the last rise from 548.61 to 548.53 AMEX:SPY need to hold 544.5 levels to resume uptrend. In 60 minutes if we take the move 518.36 to 539.9 to 532.04, we have fib extension of 546 as 78.6% extension and 550 as 100% extension. And in 15 minutes if we consider the move 532.04 to 544.12 to 539.59, we have 549 as 78.6 and 551 as 100% extension for the move. Hence 548.53 looks like a temporary top. 545 should give a n opportunity to go long with 543 as SL and 550-551 as target for the moment. Remember the close in day is good so any shorts around 547-548 levels must be covered around 545. by RiderTrader1
SPY Rallying to $608+. Are you ready?My research suggests the SPY will quickly rally above $560 and continue higher to breach $608 (a 100% Fibonacci measured move) before the end of August. The Q2:2024 earnings data and continued US economic strength will drive capital investments in US equities over the next 3+ months. Traders continue highlighting the risks related to US banking issues and the related downside price concerns. I also share these concerns - but continue to follow the price action simply. My analysis suggests the SPY will attempt to rally to levels close to $605+ before finding any major resistance.Long11:32by BradMatheny1
$SPY & CRE PanicIgnoring mainstream news and whatever and only using my data i'm seeing that CRE is experiencing unknown trouble. While SPY and other indices have been pumping possibly thanks to NVDA, CRE has been experiencing big trouble. I think CRE trouble may spill over to the rest of the market as some kind of SVB/SIVB-like event sometime soon e.g June/July and will end at the start-mid August. In my data below there's a big gap between SPY & CRE. When this gap first started forming, SPY did follow CRE data downwards but then got saved by... i dunno NVDA, the rest of the market... no idea. imgur.com Point is the gap still exists and gaps are always fulfilled by being closed off one way or another. "In a deep pub Clive British voice": I recon SPY goes down soon. There's a chance we triple top on SPY before anything actually happens e.g we visit $523, then back up to $535, then after some consolidation finally break downwards to the $465's area. Actually hoping we this current double top resolves starting now and we do a quick visit to $465 before rebounding back upwards. Thanks for attending this Ted talk.Longby leenixusuUpdated 118
SPY Top?SPY reached the top end of its ascending wedge it has been forming since October of 2023. QQQ is also in a similar spot, I'd expect a failure here. I've been expecting failures, but resistances keep getting broken, so I'll be cautiously optimistic about a failure here. VX is still showing strength, which I find odd. It may be telling of what's to come, but the trend is up for now. Shortby AdvancedPlays1
Opening (IRA): SPY August 16th 498 Monied Covered Call... for a 493.42 debit. Comments: As with my QQQ monied, re-upping in SPY after having taken profit on my August 16th 493. Here, selling the -84 delta call against, which will mean a lower max and a lower ROC %-age. Just looking to potentially milk a little more out of the August cycle (60 DTE), before moving into Sept. Metrics: Buying Power Effect/Break Even: 493.42 Max Profit: 4.58 ROC at Max: .93% 50% Max: 2.29 ROC at 50% Max: .46%Longby NaughtyPines1