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SPY S&P 500 ETF Double Bottom Technical ReboundIf you haven`t shorted the SPY Head and Shoulders Pattern: Then you should know that a technical rebound refers to a recovery from a prior period of losses when technical signals indicate that the move was oversold. In this case, the Relative Strength Index momentum indicator of SPY S&P 500 ETF is at 24.05 on a Double Bottom Reversal Chart Pattern. A double bottom is a reversal chart pattern in technical analysis that describes a change in trend. Even though i am overall bearish on the economy, buying a strong financial instrument when the RSI is below 30, would make a case for a potential short term reversal. My ultimate price target is $338, but for now i am bullish. Looking forward to read your opinion about it.
AMEX:SPYLong
by TopgOptions
1
SPY etf S&P 500 Price per Earnings still high: 18.66 ! If you haven`t bought puts ahead of the FOMC meeting: Then you should know that the P/E Ratio of the S&P 500 even after last Friday's sell-off is 18.66. Now considering that the median value is 14.90, i would say that a fair price for the S&P would the the pre-pandemic level of $3380, and respectively, for its etf SPY, $338. We might see a technical bounce here, due to the fact that the S&P is oversold and usually at this level is a buy opportunity, but short lived, to the next resistance of $374. Two months have delivered an average negative return for stocks since 1945: February and September, the latter being the worst. Looking forward to read your opinion about it.
AMEX:SPYShort
by TopgOptions
5
Gold (XAD1) ETF Trade UpdatesBuy when others are afraid ... Warren Buffett said. I have always followed this phrase and have almost always had region, but I dare to say ALWAYS, speaking of ETFs and long-term portfolios. We are in a year that will be remembered, certainly the first 6 worst months since the 70s. I've been accumulating on all my ETFs since early January 2022 and I am sure the market will agree with me. Now, let's talk about gold, because, unlike the other ETFs that I manage both actively and passively, I manage it ONLY in an active way, knowing its dynamics very well, as I do with oil. We arrived on very important volumetric support, so on Friday, I went to buy on the ETF that replicates the futures, at 105.26. The possible landing in area 100-101 marks the second entry level and, for those who do short-term trading, the target I recommend is 115. The completely anomalous trend of this "refuge" asset continues, which from 2020 instead seems to follow the market. This may be related to the bond trend, which is making a lot of money recently. Anyway, I think the current prices are quite interesting, we are more than -20% from the highs. I will not rebalance my portfolio percentage before I land on all-time highs. Happy trading Lazy Bull
XETR:XAD1Long
by LazyBull5
SPY 9/11/22 Analysis Update (Part 3)SPY has finally arrived to the June 17th, 2022 lows to form that double bottom (Yellow Circle). At the close of day on 9/23/22, SPY formed a hammer candle on the daily timeframe right atop the demand zone . On the weekly, SPY hovers closely above the 200 day moving average. Also, I have noticed that SPY has a MACD crossunder on the weekly timeframe . In contrast, there is a possible bullish divergence forming on the weekly timeframe . As far as Elliott Wave goes, we may have just completed wave 1 of Wave C of the overall (ABC) corrective wave that began at the beginning of the year. As stated, this is a HHUUUGGEEE level to watch. With Friday, 9/23/22 closing with a hammer candle, I am watching for a bounce here to begin corrective wave 2 within Wave C of the overall (ABC) corrective wave that began at the beginning of the year. Let's see what happens :)
AMEX:SPY
by Stockstradamus_
SPX S&P500 The Bigger PictureThe FED Meeting on September 20-21 is expected to deliver 75bps hike. The decision will be announced on September 21. Some key data to consider: The annual inflation rate in the US eased for a second straight month to 8.3% in August of 2022, from 8.5% in July, but above market forecasts of 8.1%. Inflation rose for food (11.4%, the most since 1979), shelter (6.2%, the most since 1984), and used cars and trucks (7.8%). Core CPI increased 6.3% on a year, the most since March, and up markedly from 5.9% hit in both June and July. So there is a change to see even an 100bps hike next week! Under those circumstances, the economic hurricane coming our way that Jamie Dimon was preaching, could become reality: If we look at the S&P chart, we can easily presume a retracement to the $3714 support line, followed by, worst case scenario, a drop to $3100 if we are going to see more earnings revisions, like FDX did this week. Looking forward to read your opinion about it.
SP:SPXShort
by TopgOptions
4
GLD: Warm-up 👟GLD is warming up in the lower magenta-colored zone between $152.85 and $159.20, where it still has some room left to finish wave iii in magenta. Afterwards, it should jump up into the upper magenta-colored zone between $163.39 and $171.23 to complete wave iv in magenta, before sliding into the yellow zone between $150.72 and $140.40, where the overarching downwards movement should end. There is a 40% chance, though, that GLD could decide to rise earlier already and thus could directly climb above the resistance at $171.23.
AMEX:GLD
by MarketIntel
GDXJ: Shilly-shally…GDXJ is still hesitant to finally complete wave ii in magenta and is turning downwards again. As it can, of course, use the whole magenta colored zone between $37.26 and $24.77 to finish the overarching downwards movement, we give the ETF some more time to get its work done. However, as soon as wave ii in magenta is through, GDXJ should veer to the north, crossing the resistance at $36.58 and heading for the next at $51.92 from there. A 40% chance remains, though, that GDXJ could break through the magenta colored zone and drop below the support at $19.52, thus triggering further descent.
AMEX:GDXJ
by MarketIntel
LABU 3X LEVERAGED BIOTECH ETF on support for LONGAMEX:LABU LABU a 3x leveraged EFT in the biotechnology sector has diverse holdings. My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market. On this 15 minute chart, consolidation at support is seen in July, Price then rapidly rose into a triple top in mid-August followed by a descent into a double bottom at the support level. This is a leveraged ETF with good volatility which can be traded. The volume profile of July through mid-August sets a POC as 8,65. This is the best support level within the zone. In the same fashion the volume profile of mid-August through the present sets a POC at 12.45 which is the bottom of the resistance zone. The spread is approximately 40% upside over perhaps two weeks of the expectant uptrend. The zero-lag SMA / EMA oscillator is showing green at its most recent print with an uptrend noted. I will take a trade in a call option with a strike 20 % higher than current price given the potential immediate upside of 40%. I will select an expiration in 4-6 weeks and hope for a 100-200% return.
AMEX:LABULong
by AwesomeAvani
5
SPY S&P 500 September is historically the worst month for stocksTwo months have delivered an average negative return for stocks since 1945: February and September, the latter being the worst. Economic context: Russia will not restart gas supplies to Europe through a key pipeline until western sanctions are lifted. OPEC+ unexpectedly decided to cut output in October by 100,000 barrels a day. August 2022 CPI data are scheduled to be released on September 13, 2022. Fed’s next scheduled monetary policy meeting takes place on September 20-21. Depending on how inflation is trending and how the jobs markets and overall economy is looking we expect a Fed Rate Decisions of 50bps or 75bps hike. The crypto market context is not good either. Ethereum network’s security and performance could be negatively impacted by the upcoming Merge. Taking into consideration the information above, my price target for the SPY ETF is $374. Looking forward to read your opinion about it.
AMEX:SPYShort
by TopgOptions
4