SPDR S&P 500 SPY imbalance
The SPDR S&P 500 trust is an exchange-traded fund which trades on the NYSE Arca under the symbol (NYSE Arca: SPY). SPDR is an acronym for the Standard & Poor’s Depositary Receipts, the former name of the ETF. It is designed to track the S&P 500 stock market index.
Trading SPY ETF is like trading S&P 500 #ES futures and e-minim futures, their moves are very similar. When we look SPY ETF at the monthly timeframe we can see that price has finally reached the monthly demand imbalance at #1 we were waiting for and has started to react to it.
If you are not paying attention to the bigger timeframes you will be missing structure and location of these imbalances. These strong imbalances can provide us with many trading opportunities, assuming that you are even aware of these bigger timeframe imbalances.
The major US indexes have correctly strongly last February 2020, but that does not mean that we should be thinking of going shorts right now. You are probably looking at smaller timeframes like M15, the hourly timeframe, even H4 and Daily timeframes. Everything is red! Does that mean you can go short? Well, look at #SPY strong monthly imbalance and try to come up with the answer yourself.
Trading SPY ETF is like trading S&P 500 #ES futures and e-minim futures, their moves are very similar. When we look SPY ETF at the monthly timeframe we can see that price has finally reached the monthly demand imbalance at #1 we were waiting for and has started to react to it.
If you are not paying attention to the bigger timeframes you will be missing structure and location of these imbalances. These strong imbalances can provide us with many trading opportunities, assuming that you are even aware of these bigger timeframe imbalances.
The major US indexes have correctly strongly last February 2020, but that does not mean that we should be thinking of going shorts right now. You are probably looking at smaller timeframes like M15, the hourly timeframe, even H4 and Daily timeframes. Everything is red! Does that mean you can go short? Well, look at #SPY strong monthly imbalance and try to come up with the answer yourself.
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