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Spy500

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
SPY Short, Starting May 11 2020With the SPY losing traction im thinking we do one jump up back to $296 and then a straight shot back down towards $255 we have yet to fill the gap and as we always know, gaps are always going to get filled i think that once we reach that $255 gap its back to ATHs until Q2 where earnings might be a lot worse than people are anticipating especially with Disney suffering this much of a loss with their arks being closed like a month before Q1 ended I think disney as well as every other company will rebound off these lows and well see a bullish market until Q3 where earnings might not be as great as people think ultimately back to SPY, i think we do one more shoot upwards towards the $296 mark, then start seliing off Monday back down towards the $255 range to fill that gap that will be the new low and we wont go any lower
AMEX:SPYShort
by mandujanotony31
1
The 2020 Market Crash - 'The Finale' After such a big drop with a relief rally to follow, people are getting complacent, comfortable, and feeling more confident about holding their stocks - the people who told them to not panic were right - thank you CNBC Fast Money! We've reached a point, technically speaking, where we should expect a sell off and new lows. The 61.8 / golden zone was tapped from this rally, and the rate of growth from this rally was so fast and sudden, the rubber band is about to backfire the other way now for a 'C' wave. The target 2 is the 'C' wave target - the 161.8. My target 1 is a conservative 'you can't always be right' target, and I don't think it's a bad place to begin cost-averaging in buys. This wave count, along with the 61.8 tap, and then paired with what appears to be an ascending wedge is just further support for a bearish claim, even though the pattern structure is pretty large, I still think it's something to consider as it is overall a bearish pattern. I am currently out of all my positions as of today, and I'm just waiting for more price development to make some clearer decisions, as from what I see today - it looks extremely bearish. I have studied markets too long to not recognize the possibility of potential lower lows being formed in the coming weeks, and it's not worth losing my 80% gains on my CCL and SAVE buys. I understand this is a special situation with CVOID-19, but I've learned when you ignore technicals, you usually get punished. Good luck everyone, make your own decisions. This isn't financial advice.
AMEX:SPYShort
by thejdela
1
Watching price levels on SPY/Futures closelySPY is starting is breakdown, been waiting for this Bull trap to start taking shape. Artificially propped up market with unprecedented levels of unemployment, no end in sight for Corona.... Price never got to the Golden Ratio which is what I wanted to give me higher confidence on my PUTs, currently price is getting supported by the 0.23 retracement line. If this breaks, looking to finding new support somewhere around where I drew the white rectangle.
CME_MINI:ES1!Short
by leongaban
The VIX Runs the showHate to say it but the VIX runs the show and I think Investors are just going to keep this on algo mode. I keep hearing bullish investors that they are waiting for another dip to buy more. I'm starting to think that recession is canceled til a real investor pulls the rug out. I don't think that's going to happen because these are really powerful companies with plenty to lose. For big investors its either the 10 year bond or $SPY. Everyone is too bearish, which usually means that stocks will go up. I think only small businesses suffer after all this like always. For big businesses unemployment means "free restructure". I guess this is the truest of bull traps if it ever was one. The 2018 mini crash its how it will look like because big investors just see it as a dip especially with government backing.
AMEX:SPY
by carlos5577
2