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Spy500

Perfect storm breakout Several favorable factors indicate trend has changed. We had bounce off the 50 MA (Monthly). We set a higher low pivot. We had a breakout over a trendline from a cup and handle pattern. A BAM signal triggered on Jan 12th (bullish signal with excellent record). What more do you want? I am hoping for a pullback to the .38 Fibonacci line...but may need to settle for .23. Market may make it hard to get a good position. When the train leaves the station it doesn't back up to let late-comers get aboard. Many people clamoring this is a fake breakout. It may be...but price action is screaming we are going up for awhile. Use stops or keep close eye on market.
AMEX:SPYLong
by bluespark96
Climbing a wall of worryAfter breaking above the resistance near $4,200, SPX continued to grind higher for nearly two weeks. Currently, it trades close to the $4,350 price tag. Despite tomorrow’s Federal Open Market Committee (FOMC) meeting, the market is exceptionally complacent. That is reflected in the low value of the VIX that returned to levels unseen since February 2020. Technicals like MACD and RSI continue to support the rally on the daily time frame, with RSI being just slightly away from breaking above 70 points; if RSI manages to break above this level, it will be very bullish for the short term. We expect this occurrence to be accompanied by a test of resistance at $4,400. However, if RSI fails to perform a crossover and MACD starts to flatten, it will raise our suspicion about the potential trend reversal. In addition to that, we are paying close attention to the support near $4,325. If the price drops below this level, it will be slightly bearish. As for tomorrow’s FOMC meeting, general expectations are that the Federal Reserve will pause a hiking cycle and wait for more economic data to determine a further path for the monetary policy. That is because of the lagging effect of interest rates, which still have not hit the economy at full power. This decision might be viewed as an initial phase of pivoting and could act as another catalyst for the rally in the short term. The same positive effect can have today’s release of inflation data if it comes in cooler than expected. Overall, we think the short-term direction continues to favor bulls. In defiance of that, our view beyond the short-term/medium-term remains still inclined toward the notion that the U.S. economy is likely headed for a recession in the second half of 2023. Illustration 1.01 Illustration 1.01 shows the daily chart of the VIX index. Interestingly, despite SPX hitting new 52-week highs, the volatility index rose in the past two trading sessions. Illustration 1.02 Illustration 1.02 portrays the daily chart of RSI. Technical analysis gauge Daily time frame = Bullish Weekly time frame = Slightly bullish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXLong
by Tradersweekly
16
WITCHING FOLKSPlease don't get caught in the storm. scroll down to my previous postings about witching data. on the 13th we have FOMC data releasing as they have been inclined to pause interest rate hikes. however CPI data is released at 830 pre market. the crazy thing is over the past 3 CPI data releases Spy barely moved I remember almost all of last year when CPI released it was like earnings and the BIG WIGS WERE HATING AND STOPPED YET AGAIN A WAY FOR AVERAGE PPL TO GET RICH THATS WHAT THEY DO PLAY GAMES> anyway here on the 4hour we have bearish confluence forming . the know what's coming so they will try to hold this up probably until Thursday after noon. if your going to be placing puts please hedge your positions. because I expect the first move to happen wayyyyyyy before Friday.my next resistance is show above at 438, still yet no sell off and OMG look at TESLA contracts went from $70 to $700. You do not want to miss this fall.
AMEX:SPYShort
by Courtneyd
2
SPY S&P 500 Index ETF and the Debt Ceiling DealThe political climate is favorable for a small rally of SPY, the S&P 500 Index ETF, towards the next resistance level of $430. After several weeks of tense negotiations, President Joe Biden and House Republicans have reached an agreement in principle to address the debt limit and cap spending. The debt-ceiling deal is now finalized, and here are significant parts of the agreement: First, the agreement suspends our $31 Trillion debt ceiling until January 2025, providing some relief and avoiding immediate concerns. Additionally, the agreement ends the pause on student loan repayments, allowing borrowers to resume their payments. This decision aims to ensure the stability of the student loan system and address the long-term financial implications. Furthermore, the agreement includes stricter work requirements for low-income and older Americans who receive food stamps. These requirements are intended to encourage self-sufficiency and help ensure that federal aid benefits are effectively utilized. Regarding IRS funding, the agreement entails a $20 billion reduction from the initially proposed $80 billion budget. This reduction specifically targets the allocation meant to crack down on tax evasion by wealthy individuals and corporations. Moreover, the deal puts an end to the ongoing freeze on monthly student loan payments and interest. It also introduces restrictions on the President's ability to reintroduce such a freeze in the future. To avoid contentious debates until after the next presidential election, the agreement suspends the debt limit until January 2025. This decision provides a temporary relief from potential conflicts surrounding the debt limit. The agreement also implements new work conditions for Supplemental Nutrition Assistance Program (SNAP) recipients, raising the age limit for work requirements to 54. This measure aims to promote workforce participation and enhance the effectiveness of federal aid programs. Overall, this comprehensive agreement addresses various aspects of the debt limit and spending caps, aiming to strike a balance between fiscal responsibility and supporting those in need. My overall outlook is still bearish and i think the small rally could easily turn into a bull trap. Looking forward to read your opinion about it.
AMEX:SPYLong
by TopgOptions
1
The Debt Ceiling The debt ceiling in the US is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury. President Biden and House Speaker Kevin McCarthy are set to hold a direct meeting on Monday following a weekend of intermittent negotiations regarding the nation's debt ceiling. This meeting takes place just days before the government faces a critical "hard deadline" where it risks running out of funds to meet its financial obligations. The possibility of a government default is unprecedented and would have devastating consequences for the nation's economy. Yellen and economic experts have expressed concerns, highlighting the potential for the situation to become "catastrophic." In the past, raising the debt ceiling used to be a routine act carried out by Congress, enabling the Treasury Department to continue borrowing funds to cover the nation's already incurred bills. However, in recent times, the vote to raise the debt ceiling has become a point of political leverage, with lawmakers using it as a must-pass bill to push forward other priorities. House Republicans, who hold the majority this Congress, are currently refusing to raise the debt limit unless President Biden and the Democrats agree to implement federal spending cuts and impose restrictions on future spending. In my opinion, we will see a suspension of the debt ceiling to allow for negotiations to form and be completed. As a result, I have a short-term bullish outlook, followed by an anticipated drop to $392 after the announcement, whatever it may be. Looking forward to read your opinion about it!
AMEX:SPYShort
by TopgOptions
SPX lacks a trend Since April 2023, the Standard & Poor's 500 index has been going sideways, primarily fluctuating between $4,050 and $4,200. During this time, ADX has declined substantially on the daily time frame, reflecting the lack of a directional trend. We continue to be bearish on the index while waiting for a breakout from the narrow range. Illustration 1.01 Illustration 1.01 displays the same setup we introduced recently (with a bearish trigger below Support 1 and tight stop-loss above it); the significance of Support 1 grew with the breakout on 4th May 2023 (when it successfully halted the price decline). Technical analysis gauge Daily time frame = Neutral Weekly time frame = Neutral *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPX
by Tradersweekly
9
US500 S&P Technical Analysis and Trade IdeaIn this video we take a look at the #US500 #S&P closely, revealing that it has reached a substantial resistance level and rejected now finding support. Additionally, there is a gap in price below it and an accumulation of sell orders in the form of stop losses that could be a target for bigger players. Throughout the video, we delve into trend analysis, price action, market structure, and price gaps. We also briefly mention a possible trading opportunity.
UShort
by tradingwithanthony
SPX is overvalued and risk while DAX outperformsThe SPX or the S&P 500 appears to be overvalued according to this critical red line in the Fibonacci levels, Fibonacci. With potentially deteriorating market conditions, many have left the stock markets globally to park their money .in safer assets like money markets. Most investors are getting better performance because of higher interest rates than taking risks in the stock market. I have lost all confidence in trading in the stock market currently due to higher volatile pricing action. Is there a significant calamity on the way? There are better-producing stock markets internationally out there, including Germany.
SP:SPX
by bryandowningqln
SPY obvious Double Top If you go back to the 30th of November to the week of witching in December 2022; specifically the 13th of DEC you can see how it came to a double top and then shot down from there. Also the 50 EMA was above the 200 EMA as well. The same situation that we are currently in . Please pay attention because a move is getting ready to happen right before our eyes and most don't understand until Thursday and Friday come. Stock contracts can be very volatile from Monday to Thursday however, once the big wigs have made there money during the start of the week by the end of there week any smart person will pull there money out of those contracts and secure their gains. I will come back to revisit this come Friday. SHORTTYYYY SHORT SHORT
AMEX:SPYShort
by Courtneyd