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$SPY Analysis, Key levels & Targets $SPY Analysis, Key levels & Targets OK. Who's having fun? Today was a wild rollercoaster, huh 🤣 but everything is still on track. All bull gaps between here and the weekly 200MA have been filled. Next one starts at 370, and that also happens to be a small support level as well… I would not be surprised if we try to head in that direction to try to fill that. My target is still 360 which is the 200 weekly MA and would make a double bottom with June lows. The 35EMA on the MONTHLY timeframe is a huge level. If we stay under that, we are in a technical recession. I know we kind of are and kind of not according to some people, but IN THE CHARTS, that’s going to signal a recession that cannot be disputed. So huge level to watch. Big level to watch. We are definitely oversold on a ton of timeframes but there’s plenty of room in the technicals to move lower… I’m still holding Dec puts and they are doing awesome… woot… I sold 373 puts for this week so if that hits I'm closing out, but if not i'm looking to close around 360... I've sold a bunch of call credit spreads on the weeklies as well and most of those did well. I think I had one that didn't work out but otherwise on the attempts to run I’m a technical trader first and foremost - But JPow did not paint a pretty picture for the next two years at the FOMC meeting. This has been a lot of tightening after more than a decade of really easy money, so even though we are a little oversold on the smaller timeframes, I'm still seeing down on the larger ones and I believe those will win right now…. If we see any relief I believe it will be short lived and an opportunity to strengthen your directionally short position. Oct 11th is the date I’m pinging for 360, but it could for sure be faster (or slower) but I do think we’re heading there. And AT 360 i do think we will see a little bit of meaningful relief. Lots of eyes on that double bottom opportunity... and that's where I'm going to be closing my dec. puts - or at least that's the plan Good luck trading tomorrow, y'all... 💃🏻 I'm proud of everyone who's still hanging in. Bear markets are not easy... you ROCK!!! ☺️
AMEX:SPYShort
by SPYder_QQQueen_Trading
25
ES stopped at its first good support trendline, SPX broke itCheck the orange line and see a link for the SPX chart below. ES stopped at the support trendline (we broke out from on Jul 27th and now re-tested from the top) Expect this to be a good support for at least this week. SPX already broke it but stopped at smaller trendline from Sep 1 and 6th lows. Apparently I can post 10 charts per day on this website and not more, so I will try to include links to my charts in my updates. But this is very annoying, especially on days like today, I need an interactive trading platform so we all can share our charts and chat during the day. I will do a separate SPX update with levels for tomorrow in an hour or so But want to mention one thing: - Usually the price reverses fully into Fri after the FOMC day. Tomorrow is a directional change till Fri, expect a good size bounce and then lower into the 27th low. After that low we should rally into early Oct high and make a final low Oct 28-31st (I will mention my main target in the SPX update)
CME_MINI:ES1!
by RealTima
9
ES must hold todays lows or at least 3900 levelYou can see how close it is for a breakdown, this in idea should bounce into Monday and then continue lower. But tomorrow is quarterly OPEX and most of the hedges are going offline, so much wider swings should unleash. This has air all the way till 3800 on the ES, so be careful if long, get ready to flip if it starts going Main resistance and supports were outlined in my latest SPX update P.S. Dont forget to like (click star-ship button) my posts, so it gets pushed up on TV for others to see as well. Thanks in advance!
CME_MINI:ES1!
by RealTima
11
ES very tricky both H&S and IHSI wont rule out a gap down tomorrow into the support cluster zone of 3910-50SPX. ES has a small H&S pattern, visible on 5 min and bigger ISH, visible here. Im not going to fight it when it breaks in either direction. The cycle window for the low is today, it can stretch into tomorrow with lower lows being bought in am and rally all day. This is my best guess for tomorrow, unless we gap up and rally all day as well. Monthly closing resistance was provided in previous update Must hold 3980 here again
CME_MINI:ES1!
by RealTima
2
Daily analysis & day trading setups - SPX500 SPX S&P500 20220829Happy New Week, Happy Monday, 4023 is the line in the sand. SPX is stuck between 100DMA @ 4056 & 50DMA @ 4000 Break of either will clear the direction Macro ECB Lane Speech, US Fed's Brainard Speech Buy Break: 4 041, 056, 065, 095 Reversal: 4 000, 3 982, 955, 935 Sell Break: 4 000, 3 985, 956, 936 Reversal: 4 042, 055, 076, 095, 110, 125 I regularly publish my daily analysis & trading plan for day trading setups. The links are here: NASDAQ DAX SPX Green Goblin levels are here >>> Fibonacci Confluence levels are here >>>
OANDA:SPX500USD
by TradingIndian
ES to follow through the Fri moveI really want to see a low made pre-market and reverse into the open, that would be very bullish! 4160-75 is the main resistance one and one more to follow at 4200, that should cap any move up. Going to buy longs tonight and exit ES short around 4k, if we get there. I will be shorting that move up from 4160-70 and then 4200 for a move down to 3920-50. Im thinking there is a good chance of this up move to be extened into the Sep OPEX after the upcoming low. Can get above 4300 again or make a lower low, all depends on how low we go on this move down. Support is at 3990-4005ES for tonight.
CME_MINI:ES1!
by RealTima
10
ES AHs updatePerfect 4200 hit, I had few running from 4148, some was exited at 4172 and 80, one at 4196.5. Have only 2 left, will exit at BE or if we extend to 4210-20. Im short NQ after the close. Nothing broken, Im looking at it as another bear rally. EOM will be quite surprising. Its def frustrating for many who short every top, have stops!!! Always hedge! If resistance broken, flip to the long side, its that simple. My internet problems cost me 3k in un-managed stops, was able to cover half before the close, but still not fun Tomorrow is a weekly closing, as well as PCE numbers, last 2 times we sold off hard on those, will the history repeat? Im betting on down, bought some Aug 31 puts as lotto trade as well as I have NQ shorts running. Its a directional change tomorrow, only 2 scenario, it will just continue the same pathway and we go up to close the gap or just open down and make a reversal. Make your bets, I made mine. Its a game we all play, never 100% but must win more then loose. Again, always have stops! Will do SPX later tonight, when I see updated numbers and cycles.
CME_MINI:ES1!Short
by RealTima
39