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S&P 500 Index (SPY) Still Not Too Low! I noticed that some traders and investors have already started buying spy on discount assuming that the market has finally found its bottom. BUT Look at a daily chart: key 2330 level still is not reached! I still believe that the market can go lower and at least the underlined level will be tested, and who knows, pullback and next wave to the downside. too early to change bias, folks. pay attention to inside bar formation on daily and look for a side of a breakout. then act accordingly. + if you are still short biased, sell from the candle open of the last mother's bar. perfect trend continuation entry! good luck!
FX:SPX500Short
by VasilyTrader
12
S&P 500 Index (SPX500) May Go Much Lower! Key Levels To Note buyers show their unwillingness to buy on dips. the market went rejected after a minor retracement from 2888 support. looks like selling volumes are accumulating and bears preparing for a breakout. the best strategy for us to follow is to sell the breakouts of these key levels expecting a drop to the next one. Key levels: 2744 2560 2343 note how perfectly structure matches with key levels. good luck! please, support the idea with like! thank you!
FX:SPX500Short
by VasilyTrader
3
$GOLD #XAUUSD finding a Buying Opportunity (Long Term Outlook)Gold is maneuvering its Price in a interesting Position. But if you are planning to open long Positions on Gold you should be patient rather than being fearful of missing out potential upside. Almost everyone looking at the Gold Chart will spot the Bull Flag and will see this as a signal to jump on a long trade. Such a decision definitely can be categorized under “Frontrunning Signals”. Technically we are in a downwards channel which statistically likes to break to the Upside but looking at some Indicators the Gold Price could retest some lower levels of Support before rising in price. What is the Price doing right now: trading around a support price of 1450 currently trading @ 0.236 Fib Retracement 1450 trading below the Weekly 10 EMA grinding along the Weekly 20 EMA grinding along a week rising support trendline Weekly Stochastic is still heading downwards starting to dive into the bearish Control Zone Weekly RSI trading below the EMA in the Middle of the Index What potential lower level can be reached for a better Long Entry Lower Trendline of the descending channel coming in at around 1430-1400 Weekly 50 EMA moving into the vicinity of the lower descending channel trendline also around the price of 1410 the 0.382 Fib retracement is at 1390 Big Support Area between 1370 - 1400 if we extend the lower trendline of the descending channel it will reach into the area of the 0.382 ib Retracement and other Supports mentioned above. 0.5 Fib Retracement around 1340 confluent with Major Support with 10 Jun 2019 Breakout Weekly 200 EMA will trail into the vicinity of 1350 Just to be said even if the Gold Price would give you a opportunity to buy it at lower levels you are looking right now on a Weekly Timeframe so keep in mind that it could take time reaching your Designated Areas. There will be bounces on the way which depending on your strategy used and Risk Management offer up some opportunity for some nice trades and keeping in mind all Key Support and Resistance levels from a Makro Point of view helps you to set your Risk Management. Leave a Comment or ask your Questions & Trade Safe! ============================== You can copy and follow my trades on eToro please visit koboltrading.com for more info about me
FX_IDC:XAUUSDLong
by koboltrading
1D SPDR S&P 500 ETF TRUST Know Sure Thing Indicator StrategyFor traders who prefer simple trading strategies, the KST oscillator should be considered for evaluating: Breakout trading signals. Assessing the strength of a trend. How to use the Know Sure Thing zero line to spot bullish and bearish momentum signals: A buy signal is triggered when the Know Sure Thing crosses above the zero line. If the KST moving averages hold above the zero line, a bullish trend is confirmed. A sell signal is triggered when the Know Sure Thing crosses below the zero line. If the KST moving averages hold below the zero line, a bearish trend is confirmed. Breakouts are usually the primary source for generating momentum bursts. The natural law of price behavior shows that stocks, futures, Forex currencies, commodities and cryptocurrencies move in short-term momentum bursts. Price tends to move back and forth from equilibrium (consolidation) to disequilibrium (expansion).
AMEX:SPYLong
by Tradingstrategyguides
S&P500 Will Drop Again?! hey traders, after a very strong selloff SPY has retraced and currently, the market is approaching a key level of resistance on daily. On 1H chart the market is consolidating and coiling within a narrow trading range. If bears break below the range, for us it will be a perfect signal of a bearish continuation and potential second bearish leg. Target levels will be 2912 and 2882. However, you can extend your second target to 2840. Stop will be 2969. *if the market closes above the range, setup will be invalid Please, support the idea with like and comment! thank you!)
FX:SPX500Short
by VasilyTrader
12
SPDR S&P 500 (SPY) Going Lower | Clear SignalsLet's take another look at the SPY... I might not get the exact bounce length, but I always get the drop... And this one is dropping. We see a new all-time high that is shy from a double top... As soon as this high was hit, you can see a break of EMA10, our main support. With this little information, I can tell you that the SPY is done. There is bearish divergence on the MACD and RSI, while the bearish volume has gone up... This is just a friendly reminder... The S&P 500... Is about to drop. Namaste.
AMEX:SPYShort
by AlanSantana
SPY- The Most Important Week in a Decade Bounce Complete, now lets Peg the top too. I have decided to go with the pitchfork type drawing today to show that at the end of everything for a year and a half we have been oscillating around this ascending channel if you will. This channel is not a pattern of itself but it is following a bullish breakout that rose almost 100% in price over 6 years. Now, for a year and a half, a potential top is being put in on that breakout. This top almost broke down once before but got supported and so we are staying within our ascending consolidation. Ascending typically break down. The Odds are in our favor. We also have a three drive MONTHLY bearish divergence ... Just wow. Make no mistake about it ... We are in deciding factor crucial moments right now. This is the bulls chance to take this to the finish line and power through the extreme barriers that lie above price. If they fail, to impulse out of this ascending pattern and hold above it then nature will most likely take its course. Unfortunately, the course of nature is to summon a cyclone of man-eating bears fueled by a perfect storm of external factors. And much like the Tasmanian devil this storm will rip down and up the chart whipping leveraged positions in and out of margin and thoroughly confusing bulls and bears alike. The recent bounce that we received in the SPY will likely be the last significant bounce in a while as our chart shows that our bottom support in this ascending pitchfork channel could be tested very soon, just as fast as it went up to it very well could crash down. This would show us that market behavior is still erratic and volatile, just as it does when in a bear market. On the Smaller time frames, we have a very aggresively slopped Ascending Wedge from this past week's impulsive buying. Though it was impulsive, that chart has shown us in the past that this type of volatile price action acts more as a consolidation to recharge its batteries and start impulsing big moves, like our plunge to Christmas. I anticipate a waterfall sell-off that simply burns a hole through the chart, as opposed to 'Melting Up' I think we have already topped. Today's price action made that pretty evident to me as we gapped up once again but dropped down fading not only the gap but yesterdays gap up as well. Thats impressive. Most probable IMO? To go down VERY SOON, and don't stop until it hits the 275 lows. If the bearish scenario does take place please consider that this will affect many things in day to day life. I think that It would be wise to be prepared for life in America in another "recession" Living in the midwest, factories get hit hard and I know that my hometown will suffer mass layoffs once again. Oh, yeah and if companies have to downsize because of economic uncertainty this will affect the subsequent interest rate hikes based on their "formula and data." Please take a moment to look at the most important trendline that can so so easily be overlooked, because it doesn't come out looking nice on a chart : (... the discrimination. With long term trendlines it's hard to know if you have them lined up perfectly or not, but I do like the confluence of this placement (Higher TF of 10 yr support below) If we drop much more in price from here then we will be in danger of living below that historic trendline and that will be the easy way of deciding if we are in a bull or bear market.. Under or above that 10-year support. Ladies and Gentlemen: We are at THE precipice right now, what happens in this next week of trading could determine the next 10 years of the Global Economic Condition. Please be protected, please be patient
AMEX:SPYShort
by PipMiesterStronger
2
SPY Pennant Continues to PierceIn my last analysis, I explained that were within a pennant formation. we have since broken down out of that pennant and successfully backtested it as resistance. So far resistance has held, and so we are rejecting until we get supported. Price closed right on our horizontal Support for this move. This makes it its third touch at this extremely important horizontal support, I would expect this support to now be weakened enough to get crushed, and to possibly finally produce the impulsive waterfall selling that I have been anticipating, for a week. Earlier today, the bulls had all that they needed to give price an honest try higher for a bounce, The first 6 minutes was all of the bullish movement today after that heavy selling followed. IF the bulls were to try to approach all-time highs, then it would have had to have happened today around midday, most likely, but the bulls failed this pass and fumbled right into the bear's hands to make a run for it. I am expecting my previous analysis to hold true with its measured move price targets in the TP1 275 and TP2 270, I favor the second TP. The devil is in the details. Knowing when the price should have been supported, is a nice tell. Other tells are constant bull traps, living below downtrend lines, lower highs/lows. Bigger picture dynamics that could all work together in a nasty domino effect of fear and panic. Or the way step back approach of, realizing price hasn't done anything new in almost 2 years on this chart..... consolidation, and I would venture to say possibly mass distribution. To me, all the signs of a bear market crash are here, but to confirm something like this on any one day's price action is impossible. Observing the actions of price throughout the coming weeks will be a great indicator if we are going to plunge to the depths of this chart. this theory will continue to be denied or confirmed on a daily basis, depending on the chart's price action. Unfortunately, this could be a bear market crash, and that is not just something to trade, that is something that can negatively impact many peoples lives, friends and families here in the USA or anywhere else in the world. I hope that they are able to find good resources to help them protect themselves in such market conditions. If your still skeptical, but want to learn and try to figure this thing out then in encrouge you to skim through my previous posts, especially around the big important moves through this year. Once we finally do get to the 270 horizontal then I will be using that horizontal level to judge the overall strength versus the weakness of this potential market cycle change. We could always just ask a magic eightball if we are still in a bull market. IF, we cannot hold that area and live below the yellow POC line the magic eight ball says, " Don't Count on it." IF that yellow line holds and doesn't break on the 2nd try then magic eight ball says, "Ask again later" I would expect the first hit of 270 to be supported but on the second or third hit of any support then I become more and more ready for a break down of the fragile support. Stay safe traders, and please be tenacious.
AMEX:SPYShort
by PipMiesterStronger