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Spyanalysis

SPY Trade Idea (BULL TRAP)Here Im using the trend based fib ext. SPY is currently at the June highs and the 1.618 Fib level. Seeing deviation with price making a higher high and the RSI making a lower low on the 4HR. (Bearish) In June fear turned to euphoria in an instant. Talks about the bear market being over started, just like it is now. Spy fell out of an ascending channel after initially getting rejected from the 1.618. (Bearish) In June it took about a week to finally sell off and bull market talks faded in the. background. I think we see a similar story in the next few days and weeks. If you're bullish i would be patient, things dont go up in a straight line. The RSI on the daily is at levels not seen since March. VIX is on a strong support which has generally marked local tops. If you notice there has been 3 times we previously touched this support and every time has been a sell signal. Same goes with the top resistance, every time we touched resistance it marked a local bottom in the stock market as you can see with the red and green arrows. In the coming weeks I am bearish on SPY and anticipate a retest of 390, a break below that and the next level is 380. However coming off one of the best months in a long time the medium to long term future looks bright for the stock market. We look to be forming a possible inverse head and shoulders pattern on higher time frames and if this is the case we should see strong support in the 380-390 range. (This is where Im swinging long if the market gives us these levels). I would also like to see VIX at resistance to further confirm the trade. I wouldn't be surprised if VIX broke out of this wedge, and give us the 40+ everyone has been calling for which if in fact we do reach those levels on VIX i think that would be the max opportunity to go long on the market. We will cross that bridge when/if we get there. Ill soon be posting ideas on individual stocks, let me know if you guys agree or disagree!
AMEX:SPY
by anamaly
BEARISH ON SPY-currently forming a bearish rising wedge -lower highs in supply zone from 385-393 - ultimately bearish since FOMC is 7/26-7/27 and J. Powell was considering another 75 BPS hike -looking for a reject at 385 to then come down to retest 373 again -crossover of the 20/50 SMA at 10:30 July 14-15 on the 4HR chart IF SPY pushes above trailing resistance line from 393-383 then this bearish set up has failed I will only swing a put if we close at 383.70 or under Always trade your own plan ;) Sincerely Kai D3 Trades <3
AMEX:SPYShort
by Kailonid3
SPY either outlier or on perfect course You can see there is a strong difference between the real cyclical bear market and the current correction. Also the primary bull market last 25 years last time from 75' till the 00'. We are now at around half cycle (13 years in). Last cycle SPX did 20x since cycle low the cycle before was around 13x (if data reliable), now we have just done 6x really underperforming. The 52 weeks MA has been the support of the bull market cycle as you can see in the chart. Hence I doubt the current correction will last for much more.
SP:SPXLong
by CFcryptoTA
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.
AMEX:SPYShort
by saisabarish
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.
AMEX:SPYShort
by TopgOptions
2
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.
AMEX:SPY
by UnknownUnicorn11669057
$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.
AMEX:SPYShort
by uprisetraders