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Spy500

SPY fake sell off todayIf you look at the MACD from previous periods it looks like, comparing to previous MACD bull runs, we are just getting started. Todays sell of was definitely one to scare off the bulls but we are hitting resistance and going to recover if you look at the 4 hour MACD we are barely going to flip the MACD to bullish and the AO indicator is already showing signs of bullish movement Plus we still have to close the gap made right before the drop of Feb 19 around the $330 area IF there is a real sell off it might be when we hit the $330 level soon or around August doesnt seem like we are going down any further Bullish until Q3 and possible $400 SPY by EOY
AMEX:SPYLong
by mandujanotony31
6
SPY - TD Sequential Hinting Potential ReversalUsing the TD Sequential strategy, there's currently a TD 9 (sell) on 1h, TD 13 (sell) on 4h, and TD 13 (sell) on 1D chart. Not to mention, the gap has been filled and a hanging man candle is present on the 1W chart. I have set a stop loss at $319, because a high volume breakout through the recent high at $318.50 would mean that it is no longer a potential double top in the making and would indicate further weakness in bears.
AMEX:SPYShort
by ErnestEA
SPY 320 by Tomorrow July 8th?With the FED repo schedule and the continual bullish nature of this market can SPY ETF reach 320 by EOD tomorrow July 8th? Let me know in the comments what you think and tweet at me on twitter @thekungfunerd . My play this week was puts yesterday for a quick 100% return and now I'm holding 0 day 320 SPY calls expiring tomorrow. I have no regrets and im not worried either way. I also wouldn't be surprised to see SPY hit 320 by close today / open tomorrow. Cheers and Go Make Money
AMEX:SPY
by Kungfunerd
3
S&P 500 E-mini Futures (ES1!) Price for the futures has been consolidating above the previous high, from the current fall we experienced after the very tall COVID-19 rebound. A much needed pullback was needed considering we came off the bottom of March extremely fast. We are still in an overall uptrend, confirming that with price not falling below the $300 level with the pullback and staying above, with a fake-out towards the end of the fall. Overall a uptrend is still intact, this simply could mean a dip. Staying above the previous high with current fundamentals in tact; NY started phase 1 reopening, China said it would start to be the biggest buying in soybeans again (Trade Deal), higher consumer sentiment and spending gradually increasing along with jobs slowly coming back is all progress forward. The jobs number won't immediately go back to where they were quickly, that major factor has been priced into the market. I believe all funds and major players are aware they wont come back as fast but doesn't mean we aren't making positive growth. Currently the dollar is getting extremely hurt from this but is inversely related to the growth of the S&P. A ton of money was being pumped into the economy all over the world mostly in USD or debt that was formed to USD. The Euro of course has followed the exact path of the market and has been booming. All countries invest between each other within their respected Treasuries. Seeing the central banks are inside the Treasury, makes sense the banks are then in control of investments coming into the country and vice versa as we invest in other countries through bond offerings.
CME_MINI:ES1!Long
by hunnndini
S&P500 Double Top - Descending TriangleLook, I am no economist, but the QQQ flirting with all time highs same as the S&P with a downward series of highs for second peak.. Plus, with news articles (and jim cramer) screaming BUY BUY BUY that is a bubble to me and do not get caught with your pants down in the next big drop. Yes, I am overall bearish but would prefer to be bullish. Nobody has successfully made the case why we should be bullish for the next 6 months. Short term, the economy is in bad shape. Posting retail numbers that are "not as bad as we thought" are still ignoring how bad they actually are! The fed pumping can only do so much to keep asset prices inflated. This time folks, we have painted ourselves into a corner. Continued gains in indexes will be met with serious selling resistance.
AMEX:SPYShort
by Gains4151
SPX500 going up to at least 3300Yesterday was a very interesting day. We got a massive impulsive candle that took price to a very key level with several stars aligning: - Psychological level of 3000 - Cross of both EMA50 and EMA 200 on the daily - Previous clear resistance (now turned support) that had not been revisited yet in this rally - Touch of a very clear lower trend line of a channel upwards - Touch of the EMA200 on 4H chart This is while we know that the fundamentals are aligning as well: - The Fed announced that they would continue to support the market throughout this crisis (money printer stays on) - Unemployment numbers are declining and so are unemployment claims - Presidential election in November, we can expect prices to go up after the election no matter the result from previous election data. We also know that Trumps Ace is the Stock Market, he will do anything it takes to make Fed support the market as it's in his best interest. What caused yesterdays huge sell off? Profit taking from paper hands. Retail traders have been buying like crazy during this quarantine with their stimulus checks. People who have never invested before. They have only witnessed minor pullbacks with lower momentum and went straight from euphoria to fear in a day. However, should price break out of the channel with high momentum, we could expect price to drop all the way back to the start of the channel. For now however, stocks and indices are at discount.
OANDA:SPX500USDLong
by m255683349
1
S&P ($SPX500USD)📈 | The FED Speaks, All We Hear is Buy the Dip.💥💥The S&P 500 looks like it could be looking at a little downside as the market figures out what it thinks of the very impactful FED speech. Do we rally here as the market focuses on stimulus and low interest rates for years to come? Or, does the market panic a little over the unemployment rate. Both moves are valid, but we think whatever panicking being done is ultimately going to result in more upside. So then, let's look at some levels where we might find support and get a sense of where resistance sits for if we and when we do move up. Support. The S1 S/R flip is our most likely candidate for support. That gives us a little cool off, but ultimately keeps the current bull run well intact. The S2 orderblock and S/R flip is the next level of support for the bulls, S2 retains a bullish structure while front-running the S3 major pivot point. S3 is where the bulls will need to hold to show the world who runs this mother #$@%^!. At S4 we are likely in for that "slow recovery" the FED was talking about, but the bulls could always pull an upset here. S6 and S7 give us a chance at higher lows, but at this point, it's a long way down to those support levels. Resistance. The R1 orderblock cluster is an obvious resistance since it is hanging right over the current price action's head. The major resistance point is the R2 S/R flip cluster that includes the previous all-time high. Summary. Can SPX take out the ATH like NASDAQ? Of course, but it is likely we are in for a bit of a pullback while the market reacts to the FED news. In fact, if we just see a straight rip up without a moment to cool down, we would be wary of the FOMO and greed ramping up in the market. There is always another trade, so let's let the market come down to a logical level and not chase the SPX dragon. Resources: www.washingtonpost.com + www.cnn.com + www.cnbc.com
OANDA:SPX500USD
by AlphaBotSystem
10