SPY set to gap open slightly higher. Weekly and daily charts indicate that the downside isn't done yet, but it's not super bearish either. Intraday levels of interest for me in the video.
Price is gapping up at the open today and set to challenge/test the confluence of the 50DMA + 5DMA + AVAP off the high of the most recent leg up.
Opening gap lower and below the VWAP anchored on the low of the year. It's the first day of the month so price action may be a bit more choppy as institutions do what they have to do. Intraday levels of interest for me are in the video.
Gap up opening today. No real big reports or announcements. Last day of the month, so technicals intraday will likely be more choppy as big funds move around and settle their month.
Still looking likely that a 50DMA test is coming. Intraday levels of interest for my intraday trading are in the video.
Intraday levels of interest for me in the video. Likely target is 50DMA and VWAP off of year lows. The leg up on the daily time frame is officially over in my trade system since price closed below the July 14 VWAP.
Massive outside down day thanks to the Fed speech. Test of 50DMA looking increasingly likely. Weekly time frame is not showing the bear market to be over.
Fed speech today at 7AM PST / 10AM EST. Price currently close to yesterday's close. 420.28 is a key level to watch today. Other areas of interest are presented in the video.
A higher high on the 5 minute time frame. Looking at potential confluence of declining 5DMA and S/R line as an area of interest for a turn back down OR confirmation of up trend. Also looking at vwap areas of potential support to for the daily time frame pull back. My intraday levels of interest are in the video.
Intraday trend has been lower lows and lower highs. Daily time frame is still an up trend. 5DMA is descending, 20DMA and 50DMA are ascending. Intraday levels of interest for trading are in the video.
Price looks close to yesterday's close. Intraday down trend. Daily pull back/reversal/continuation confirmation target is off of the July 14 vwap. Intraday zones of interest presented.
Big gap down opening in the SPY today. Because price is below the descending 5DMA, and there are a lot of mixed messages - I'm not looking for a long side swing trade. I have intraday long/short areas of interest though. I do see a vwap point of interest as a target for price consolidation and confirmation of continued long side action on the daily time frame, or...
Looking like SPY is likely to make a new lower low on the intraday 15/30 minute time frames. Gap down opening below the 5DMA. Daily trend is still up, but the market does not move in a straight line! Intraday areas of interest discussed in the video.
Looking at price action on 30 and 15 min timeframes... be careful with long side trades. Possible lower low + lower high formation happening. 5DMA up, 20DMA up, 50DMA up. Levels of interest in video.
Trend is still up. Price gap down open below a significant yesterday's low and a Support line. Close to the 5DMA. Significant levels of interest presented as well as what I'm looking for when a pull back happens on the daily time frame.
50DMA up, 20DMA up, 5DMA up, price above all of those MAs. Intraday levels of interest in the video. No swing trade set ups.
SPY has had an awesome run up. Looking over extended to me. Intraday trade levels of interest for short/long in the video.
Gapping below the 5DMA and a daily S/R line. If price moves against those levels and bounces down off of them there is a potential short swing trade.