SPX500: Down goes the economy!Get ready for something we have never seen before in American history.
Spy500
SPY Price Target for this monthI am targeting a lower low at the $358 support by the end of this month, due to the CPI report and the start of the Q2 earnings season with revisions.
Looking forward to read your opinion about it.
$SPY 1D - Looking at the bigger pictureThe daily timeframe looks like a bullish reversal with increasing buying pressure into Friday's Market Close. The plan is to monitor for bullish continuation early this upcoming week after markets return from July 4th Holiday.
SPY long into these 2 pockets to fill the gapsI like the idea of traders returning to their desk after the holidays, this should bring at minimum
some vol into the markets. If we can break 380 on the SPY we could run to the 4s!!!!
Bristol-Myers Squibb: The Beginning of a CorrectionGood evening.
Fundamental analysis of the company was published in Seeking Alpha.
I expect Bristol-Myers Squibb shares to correct in the $68-$69 per share range.
Disclosure: This article may not take into account all the risks and catalysts of the assets described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental/technical criteria or events change in the future, I do not assume any obligation to update this article.
looking at the key level on SPYSPY might make a bounce to the upside considering the level it is right now, you can see in my chart how it made an inverse head and shoulder and break out up. Previous resistance might be a support right now.
Another thing to consider is, we are at the end of second quarter for the year.
NOTE: Overall picture is still towards the down side.
$SPYThe Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the "Portfolio"), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the index.
Looking for a retest of 410.64 on $SPY$SPY 1W looks like it wants to re-test that huge 410.64 support level turned resistance. Would expect it to be tested into end of month/early July.a
4h TTM squeeze flipping positive $SPY 4h TTM squeeze flipping positive after forming a reversal pattern off trendline support. Looking for bullish continuation.
$SPX - How low can it go?? $SPYLooking back at all the bear markets in the US, the average drawdown is around ~33%, or roughly a third of the gains from the most recent cycle/run up.
If we're to assume that the current bear market may be around that average, then we're looking at the 3450-ish level which we are approaching quite fast and furiously.
There's also moving average support here so it may come to where we find support here a while, get some traction and start to grind higher and avoid a recession.
If you're thinking and feeling like this is more along the lines of the financial crisis and the dot com bubble, or even the great depression, where we gave back around 50% and higher of gains, then we're looking at 2100 leve on the SPX. This would represent 50% drawdown of the gains we had since the bottom of the financial crisis to the highs of 21-22.
What do i think?
Well, i think the 3400-3500 level will be an area where the market will try to take a stand against the bears and perhaps move and consolidate sideways for a bit while it figures out the many factors that are moving the markets today. Perhaps the Fed will build and stablize the confidence of the markets to ease inflation and avoid a hard(-er) landing; perhaps the pandemic and the global supply chain issues will ease, and the geopolitical threats in Ukraine and a potential one in China-Taiwan will subside or never be realized, and a global recession will be a small one. If so i think then there's a chance that the markets will move higher from this support level and test some resistence levels it's sliced through and gain back the confidence of the markets to move higher.
On the other hand, none of these things improve but worsen, and even worse yet, couple of exogenous events are added to the mix to panic the markets and send us below and toward that 50% mark. Perhaps there's a bank failure in China, or Bitcoin craps out completely. Perhaps China DOES make a move on Taiwan, or the pandemic takes a turn for the worse with a new variant, or politics in the US takes a violent turn for the country and even though the Fed is raising rates, inflation continues to grow and gets out of hand in to double digits. Who knows.
The we have to think that not only will we be testing the 2100 level, but perhaps the highs of 2000 and 2008, even. Then we're looking at a full blown DEPRESSION, not a full blown recession. How far that rabbit hole goes... nobody knows...
Good luck everyone.
This aged well. Hope you did too.Well, the wedgie from hell is on it's way there. Probably find support around 290.
SPY expect a reversal before another dipThere is a good H&S pattern formed and the price broke the neckline as of today closing below 367.
the current downtrend could reverse towards a bullish move soon before the next dip down to 320ish.
Analysis :
At present RSI @31 which still has some more room to go down.
Fib support level for 161% of previous up move is at 357.7 at which RSI would be around 18-20 - can take this as early entry for a bullish move to 370ish
Since H&S neckline is broken, we can look towards short at around 370 to go down to 320ish.
$SPY sitting right at the 200 ema, looking for relief bounce$SPY sitting right at the 200 ema, looking for relief bounce, getting quite over-extended to the downside here. Would expect relief bounce into tomorrow with a long weekend the markets will be closed Monday for Juneteenth...
SPYIt's bear market territory whenever we see more than 20% retracement from ALL-TIME HIGH. The first retracement from an all-time high is always 33% (that's almost 320 for SPY)
I have made a technical analysis on how to play the bear market. The two red lines I have outlined can help traders when to short and when to go long. I'm going to swing shares of SPY (long/short).
Waiting to see weekly 200 ema testJust waiting to see price test weekly 200 ema and see where we go from there.
SPY Big Fed Rate Hike is Coming! If you haven`t noticed Jamie Dimon`s prediction:
Then you should know that The Federal Reserve is expected to raise interest rates by a half of a percentage point for the second consecutive time on June 15.
More rate hikes are likely in the coming months because consumer prices rose 8.6% YoY through May.
Inflation is at 40 year high!
Jamie Dimon, the JPMorgan Chase CEO:
"Right now it's kind of sunny, things are doing fine. Everyone thinks the Fed can handle this." "That hurricane is right out there down the road coming our way." "We just don't know if it's a minor one or Superstorm Sandy. You better brace yourself."
Jamie Dimon is predicting an economic "hurricane" caused by rising inflation , interest rate hikes and the war in Ukraine.
If oil reaches $140 - 150 this year, then this is the strongest sign of a recession or if China invades Taiwan.
Looking forward to read your opinion about it.
Looking for 357.74 test on $SPY soonLooking for 357.74 test on $SPY minimally before we can expect a "bear market rally."
$SPY bearish reversal confirmed.$SPY rejected 4h 200 ema, 1W linear regression channel backtest, and tripple topped. I would excpect $SPY to create a new swing low over the next few trading sessions into 6/17 $3.2 trillion OPEX... Fun times ahead.
$SPYThe Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the "Portfolio"), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the index.
SPYSPY GAMEPLAN FOR JUNE 10,2022
As CPI data will be released at 8:30 AM EST, tomorrow is a big day for traders and investors. Make sure not to trade on news or assumptions. Today we saw a massive sell-off at the end hour of the market trading session. There will be a bounce upward tomorrow for correction. The critical level of resistance, for now, is 405.18-405.71, and the main one is 407-408. I'm saying this because on multiple timeframes like 15m,30m,45,1hr, and 2hr, and RSI is sitting on 30, which means an oversold area. Don't get trapped in following the trend but wait for confirmation to short on the resistance area(to be on the safe side).
Moreover, looking at VIX, it got rejected at the resistance level of 26.25. If it breaks the resistance tomorrow, opening a short position might be a good idea. Another scenario is that it cools off in the area of 25.50 from their excellent idea to open a safe short position. This is just my opinion but looking at the sell-off volume was a sign of continuation of the sell-off.
$SPY rejecting 1D 55 ema and 4h 200emaAs the charts show, $SPY is rejecting 55ema on 1D and 4h 200ema on 4h. In addition to this, a lot of macro catalysts and headwinds are at play here with a quantitative tightening cycle beginning, the war between Ukraine and Russia, Monkeypox, Gun Violence, very high inflation, and the recession flags popping up everywhere in auto sales data for example. R/R favors the bears at this moment but it's still highly recommended to utilize upside hedges regardless of conviction due to the volatile and shaky price action we have been witnessing over the past few trading sessions especially.
SPY
SPY is trading sideways right now and broke uptrend as well. Broke below support which is $407, will lead to new lows. SPY might trade sideways till Thursday and significant action on Friday as its CPI day.
SPY 15min - Gann Fan with Fibonacci Levels and Major Sup/ResSPY 15min - Gann Fan with Fibonacci Levels and Major Support and Resistance.
