AMEX:SPY October 17,2023 15 Minutes. There was trend change, once 435 was broken. As of now downside limited around 430 level. We always need two scenarios in trading. The buy above 435 was triggered yesterday. We are having 9,21,50, 100 around 434-43 levels. The 200 is around 432 levels. On indicators we have stochastic black bar on top, so a retrace will be...
AMEX:SPY October 14,2023 15 Minutes. The eagle has landed. 200 Averages in 15-minute ha to be respected. Now we have upside capped at 433-434 range. We have a LH at 433.36 so need a HH above this for trend change. We have two LL, and the oscillator has diverged. So, a bounce back to 434 levels is expected. We have 100, 50 sloping downwards, 200 sloping...
AMEX:SPY October 13,2023 15 Minutes As expected, moving averages pull back happened. Now we have 9,21,50 and 100 converging. I expect 200 averages as target now around 429-430 levels. The upside is capped around 435-436 levels as retracement play for the fall 437.34-431.23. We are having CCI red, Elliott oscillator red, and stochastics black bar at bottom....
AMEX:SPY October 12,2023 AMEX:SPY came round 433 levels and again bounced back to close near top. Uptrend Intact as we can see in channel. 439 is mid point of channel. Today that could be the target with downside limited to 434.5. I still have 100 and 200 average far away. For the rise 427.02 to 437.22 we have 61.8% retracement around 431 levels. For the...
AMEX:SPY October 11,2023 15 Minutes. AMEX:SPY was again one-sided move after gap up. The expected retrace did not happen. I did not take any trade for the day even though gap up gave a target 436-437 as expected. I am basically a moving average cum Fibs trade setup follower. At the moment 200 averages is 420 below current daily closure. If you see the...
AMEX:SPY October 10,2023 15 Minutes Once market opens, we have to make slight modifications to our setup. We had a buy around 425 + for 430-432 level. AMEX:SPY opened gap down. Closed green and also near high of bar. We had stochastics black bar on top, meaning a retrace is a buy if a back bar is nor formed at bottom during retrace. Ellott oscillator was...
AMEX:SPY Weekly setup Consider the rise 218.26 to 479.98. AMEX:SPY retraced 50$ around 349 levels. Now consider the rise 348.11 to 459.44 AMEX:SPY retraced to 38.2% levels. Hence 412-416 is very important to hold for uptrend. 61.8% retracement is around 390 levels Which would give us a very good level to long with a small SL. If 412-418 levels are held...
AMEX:SPY October 7,2023 15 Minutes. Option buyers as expected made their $$$. 9,21,50 and 100 were converging around 423 levels. Buys was trigerred.427-429 target was achieved. We had a steep fall from 444 levels. So consider the fall 444.43 to 420.19 and the rise 420.19 to 431.12. For the rise we need a retracement to 425 levels which is not only 38.2%...
AMEX:SPY October 6,2023 15 Minutes As expected AMEX:SPY was in the range 421-426. Its now near 200 averages. s we had an excess of 61.8% retracement for the rise 420.19 to 424.36 we had a double top around 425 levels. Toda taking the rise 421.18 to 425.63 a retracement to 422.5-423 levels will be good to go long as moving averages are converging. I expect a...
AMEX:SPY October 5,2023 15 Minutes AMEX:SPY bounced to 424 levels as expected. Fibo working to the dot as usual. Consider 2 fibs. The fall 431.85 to 420.19 The rise 420.19 to 425.43 For the fall 61.8% is around 427 levels and for the rise 422 levels. we have 200 averages around 426 levels. I expect that to be resisted today. Moving averages 9,21,50 is...
AMEX:SPY October 4, 2023. 15 Minutes. Down trend continues. As expected once 424.52 was broken it was non stop downtrend till 420 levels. We are nearing the important 418-412 levels. Yesterday made a mistake as i missed to see the 100,50 averages near 427 levels. AMEX:SPY made a high 426.65 and reversed getting resisted around those average levels. When...
AMEX:SPY October 3, 2023. 15 Minutes Downtrend intact. Sell on rise is going on. As expected, 432 is getting difficult to cross. First resistance is 432 levels. If we consider the last, fall 431.85 to 424.46 61.8% retracement is around 429 levels. A good level to short. We are supported by: Elliott oscillator red Stochastics black bar at bottom. so, when...
AMEX:SPY September 30,2023 15 Minutes. In lower times moving averages have converged. AMEX:SPY as expected faced resistance 200 averages in 15 minutes and made a high 431.85 for the day. Now knowing it will be resisted around that level plus a gap up, plus first bar being red and closing near bottom, oscillator divergence in 15 minutes shorted AMEX:SPY ...
AMEX:SPY September 29,2023 15 Minutes. A fox being forced by hunger, tried to reach some grapes hanging high on the vine but not able to get hold of the grapes. So went away by making a complaint that the grapes are sour. Story of traders. Monday I was sure Thursday/Friday can make some $$. The theory is it's easy to go long than short. After 3 days fall...
AMEX:SPY September 28,2023 15 Minutes Clear downtrend. Sell on rise. Three fibs The fall 444.3 to 422.29 The fall 432.27 to 422.29 The rise 422.29 to 427.54 AMEX:SPY busy making LL LJ pattern repeatedly. Playing with 50 averages last 3 days. 100 and 200 are sloping downwards. At beginning of week i was expecting a sideways and move on Thursday/Friday. But...
AMEX:SPY September 27,2023 Weekly. Time to visit larger time frame. From September 20 low of 320 levels AMEX:SPY made a high 480 levels. Nearly 50% uptrend without correction. Now we have nearly a double top 460-462 levels with a cup being 23% height from top. Assuming the handle is going on, 410-418 level is very important to hold. That level also happens...
AMEX:SPY September 26,2023 15 Minutes. Story always repeats. Never fails. A step fall in 15 minutes, with too much away from 200 averages always results in sideways until moving averages catch up. After a series of LH LL formation, we now have HL formation. And looks broken in last one hour. Hence if we take the fall 444.01 to 428.72 AMEX:SPY need to cross...
AMEX:SPY September 23, 2023 15 Minutes very week chart. Below all moving averages. LL LH formation. Yesterday 434.9 to 432.23 61.6% retracement was not held and fell to 430 levels. 428 is still the first target. However, we have an oscillator divergence in 15 minutes. Price making LL but oscillator making LH. Hence i expect a retracement to 435-436 levels...