AMEX:SPY December 2, 2023
AMEX:SPY made a new high. As expected did not make much retrace.
If we take the rise 455.4 to 459.64 then On Monday 457-458 must hold for 462 levels.
I use Fibo, Elliot oscillator, and moving averages in my setup. In higher time frames the Elliott oscillator is not making a high price.
I expect a pullback or sideways...
AMEX:SPY December 1, 2023
For the rise of 446.09 to 458.31 AMEX:SPY retraced to 38.% and went up again closing at 456+. So very good chance to cross 458 levels based on retracement.
The fall is 458.31 to 453.34. AMEX:SPY has now retraced to 61.8% of the fall. So need to cross 457.27 to resume the uptrend.
The rise of 453.34 to 456.76...
AMEX:SPY November 30, 2023
As expected due to the convergence of 4 moving averages AMEX:SPY opened gap up.
The expected target was 458 levels.
That came in the secondn15 minute bar.
If we go to a lower time frame we can clearly see that the HH bar at 458.32 had a close near low.
So I sold at 458 levels.
When we draw retracement for the rise of...
AMEX:SPY November 29, 2023
AMEX:SPY held the 453 levels and has consolidated.
Today holding 454-454.5 levels I expect 455.8-456 levels a target. And if 456.27 is taken out then we will have 457.5-458 levels.
I think based on open today we can make some $ on the long side. Provided 454-454.5 is held.
Of course, gap up may spoil our calculations,...
AMEX:SPY November 28, 2023
A no-trade day for me as expected.
Considering the rise of 451.96 to 456.38 AMEX:SPY is now near 9,21,50 and 100 averages.
I expect the 100 to be broken today for a target of 453 levels which is approximately 200 averages.
In these movements, indicators cannot give a clue. Pure price action is to be followed.
AMEX:SPY November 23, 2023
I exited my position at the gap up yesterday around 456 levels.
I feel AMEX:SPY is getting tired.
As of now nearly all upside targets are met.
We have an oscillator divergence. Price making higher, Oscillator not keeping it up.
For any upside today I expect 457 a good level to short.
AMEX:SPY is making HH, and HL in...
AMEX:SPY November 22, 2023
As expected 452 levels gave good support.
Now we have 9,21,50 averages converged.
100 at 452 and 200 at 448.
As can be seen, the bottom of the channel has given support nearly 7 times.
Holding 452-452.5 levels I have a target 455.5-456 levels.
451 should give support being 100 averages.
Now the short below 451-450 is...
AMEX:SPY November 21, 2023
As expected once 452 was crossed we had a had over till 455.
Aggressive buy came above 451.4 as the previous HH was 451.37.
In 15 minutes the first bar broke the trend line drawn and closed near the top of the bar. Since it was a long bar we had to wait for a retracement, Which occurred in the next 3 bars as can be...
AMEX:SPY November 18, 2023
As expected AMEX:SPY retraced only for the last rise.
The low was 449.3. And the high was 451.42. Good for options traders only.
We are having 4 moving averages converging.
9,21,50 and 100 in 15 minutes.
200 averages are at 444 levels.
Due to consistent sideways movement last 2 days Elliott Oscillatores are not able to...
AMEX:SPY November 17, 2023
No retracement day. Again.
Generally, if we have a gap at the resistance point, in this case, around 450 levels (see 60 minutes chart 14Th September gap down), and it goes sideways on the right side of the chart, it signals the strength of the chart.
The gap on 14Th November can be considered as a breakaway gap.
AMEX:SPY November 16, 2023
As expected not much movement to the upside.
Nor any retracement.
Now AMEX:SPY in 15 minutes is less than 9,21 and 50 averages.
It looks like a retracement will happen today.
I am expecting 446-447 levels.
As you can see for the 2 rise
433.39 to 451.37
440.1 to 451.37
we have a fibo meeting at 444.5 levels.
No trade da for me.
AMEX:SPY 15 November 2023
As written a couple of days ago trend change number was 438 levels.
Once it crossed we have to go long.
Now we will have some resistance around 451-453 levels being the previous high, before taking out 459 levels.
So AMEX:SPY holding 444 levels short-term uptrend is maintained.
Remember daily the stochastics black bar...
AMEX:SPY November 14, 2023
AMEX:SPY as expected Took support around 438 levels and made a high 441.3 levels.
Now we take 2 fibs.
The rise 433.39 to 441.33
The rise from 438.42 to 441.33
For the short term must hold 439.5 levels.
We have 200 rising upwards. It is now around 436 levels.
Elliott oscillator green, Stochatics has a black bar on...
AMEX:SPY November 11, 2023
AMEX:SPY opened with a gap up.
I expected a retrace and wanted to short at 436 levels.
Since it opened with a gap up I waited for a retrace.
Generally f the gap is not filled then the gap up/down is strong.
AMEX:SPY retraced 61.8% of the rise from 433.39 to 436.24.
The rise of 434.43 to 436.79 in 3 bars signaled a...
AMEX:SPY November 10, 2023
As expected 439-440 was resisted.
In fact, the open bar for the day was a gap up and closed at the low of bar triggering a sell with an Sl above the high of bar.
AMEX:SPY is now below all moving averages. And 200 s around 431.5.
Now considering the last fall 437.67 to 433.39 we can short at 436 levels.
AMEX:SPY November 9,2023
AMEX:SPY held 434-435 levels yesterday.
I will take 2 Fibs
The fall 438.09 to 434.88
The rise 434.88 to 437.79
For the rise, it must hold 435 levels.
We have 200 averages around 428 levels.
The stochastic black bar on rising last from 20 levels is missing on top so far.
Oscillator 5,35 getting weak.
It looks like ...
AMEX:SPY November 8, 2023
Price action is still positive. AMEX:SPY making HH HL pattern.
We wanted 435 to hold yesterday to continue the uptrend.
The low was 434.51.
That numbers came from the last rise 433.68 to 435.3.
61.8% retracement would have been 434.46. Low was 434.51.
Now all indicator except Oscillator 5,35 is indication uptrend.
Oscillator 5.35 is...
AMEX:SPY November 7, 2023.
AMEX:SPY uptrend movement getting tired.
The move from 409 to 430+ was swift.
Now last few days sideways around the 433 level.
I am a moving average Fibs follower.
As can be seen in the chart the moving average of 100,200 is far away from the current value.
AMEX:SPY is holding the channel breakout. 100,200 are sloping...