S&P500: Key Support Level for SPY Bulls to DefendThe S&P 500 been gradually breaking downwards since peaking in July. AMEX:SPY has reached the bottom of this red parallel channel last week. This is a key support level that has been providing strong support, and I think SPY bulls need to defend this price level this week. The RSI is oversold so the conditions are good for a rebound here.
Spycalls
SPY - Price Targets & Stop Loss📈 What’s up investors! 📉
Welcome back to another one of
💡“Mike’s Ideas”.💡
I post as I find signals… these signals are based on the personal rules I have built and follow in order to make up what I call the “SST Strategy”. Follow for more ideas in the future!!
I have 4 levels marked and colour coded on the Chart.
These levels are:
⚪ White = Entry Point
🔴 Red = Stop Loss
🟢 Green = 1.2:1 Risk Reward Ratio
🟡 Yellow = 1.5:1 Risk Reward Ratio
🔵 Blue = 2:1 Risk Reward Ratio
👀 So what are we looking at today…!!!
🚨( SPY ) SPDR S&P 500 ETF Trust🚨
The 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.
$SPY bulls in charge? maybe for now..$SPY momentum has been strong for the past few weeks. after the market switched gears to the upside after the government lifted off the covid restrictions this summer, and ok earnings in some of the big tech stocks couple weeks ago. i believe after the restrictions got lifted off, it helped the economy to get back on its feet. but despite the covid restriction being lit off, it created massive supply chain issues, and inflation. this is due to massive back log of the supplies that didn't get sold in the past 2 years because of the covid. Also, small businesses try to make up for the loss of profits during the pandemic.
here's my day trade price target for SPY on FRIDAY 08/15/22.
============================================================
For calls; buy above $429.17 and sell at 431.28 or above
For puts, buy below 426.49 and sell at 424.17 or below
============================================================
Welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock might possibly go the next day or week play and where I would look for trading opportunities for day trades or scalp play.
If you have any questions or suggestions on which stocks I should analyze, please leave a comment below.
If you enjoyed this analysis, I would appreciate it if you smashed that LIKE or BOOST button and maybe consider following my channel.
SPY S&P 500 Compared To 2008 - Will We Follow The Same Pattern?The daily chart for the S&P 500 looks eerily similar to the chart from the 2008 crash. We have already crossed below the VWMA 100 and VWMA 500 now which are both historically very supportive moving averages. I think it's very possible we chop around in this area for the next couple weeks while we wait for the VWMA 100 to cross below the VWMA 500, but if we can't stay supportive back above the VWMA 500, it will likely fall pretty hard. If it's anything like the 2008 crash, it should be a steep drop from here, but there are a lot of other factors at play so we will just have to wait and see.
The 2008 drop fell 56% from its high over about 510 days. If we perform the same this time, that would mean a drop to around $210 that would happen around the middle of 2023. Again this is just if we repeat the exact same thing statistically. $210 is also the low from the 2020 pandemic crash and a likely area for it to hold if it does make it down that far.
Something to note though is that when matching the two timeframe's chart patterns, the 2008 chart pattern took twice as long to play out. So with the bottom reaching a 56% drop over 510 days, it looks very extended and not very similar to the timeline from 2008. This makes me consider that if we do follow the pattern from 2008, it may happen in a shorter timeframe such as a year or so. This is purely speculative and obviously there are a lot of other things that factor into this, but I'm just comparing chart patterns here as possible outcomes.
We should see some good support in that purple cloud though on the way down. Those are the EMA 1000 and EMA 2000 which I are typically very strong support/resistance.
If we do follow the same pattern as 2008, I'm waiting for price to reclaim and stay supportive above the VWMA 100 before entering LEAP Calls when it rebounds. Then wait for price and the VWMA 100 to get back above the VWMA 500 for confirmation of another actual bull run to begin (but that could take 2+ years to happen again if this scenario plays out).
Drop your thoughts in the comments, I'm curious to hear what others have to say on this comparison.
$SPY 500: Strong Bullish Divergence!⭐7.86 Fib Mounted as strong support confirmed by a significant amount of volume (425) This support is valid by the VPVR and Bullish Divergence on the MFI.
⭐6.18 Fib Support mounted with large volume. This support 435 is valid due to the large VPVR node + volume.
⭐446 Resistance confirmed by VPVR and selling volume + Ichimoku Cloud Resistance.
⭐453 Resistance confirmed by 2.32 Fib and large VPVR node + selling volume.
⭐For bullish price action a 3D close above 446 is needed to reclaim Ichimoku Cloud support.
⭐Strong Bullish Divergence on the MFI hints for a breakout
⭐Options Chain bullish 70k Volume + 20k Open Interest at 450 which makes it a likely target. Lower targets than this are unlikely due to the bullish options chain.
*WARNING* This thread is not financial advice. I am not a financial advisor.
SPY bearish options todayI was monitoring the SPDR S&P 500 ETF Trust (ETF) options market and the puts are dominating the options today.
2/3 puts, 1/3 calls and some important dark pool prints sells.
My expectation is for a retracement at the $422 area, followed by a W shaped recovery.
Looking forward to read your opinion about it.
SPY Monthly Bull/Bear CycleSince Feb 2021, SPY needs on average 26 days to complete its bull/bear cycle. As SPY price goes higher, the gains slow down slightly, which is accounted for with the trend angles dropping 4 degrees per month from its Higher Low to Higher High. If you did not take a call position yet, you may want to pick up some Spy Calls tomorrow.
SPY Intraday Week 18 UpdatePerhaps my initial idea was right and I was early on my flat-top count. I opened my position too early off the indication of a VIX triple top but should have been paying more attention to how it would behave around the daily 50ema. So far it's getting smashed at 20 every time and that indicates to me that my idea is still in effect. Not bullish after next week though.
SPY Intraday Week 17We need one last breath on the RSI to get buying momentum for this last wave up to resistance, in the process of building a 30min triple bottom for a 5-wave start. Especially after earnings, next week should be bullish. Double rejection of the primary trendline, hard resistance at 418. Short down to lower .618 range, completing ABC correction. Lots of confusion here during this week's environment, which generally means we're in a whiplashing ABC correction. What's really happening is we're just consolidating.
SPY has room to go UP!AMEX:SPY
SPY has some more room let to go up, although is on overbought setup. some indicators still showing some more momentum going up. support currently at 396-397. most likely it pulls back no matter what. but for now, just be cautious and take profits while you can.
let me know in comments below your thoughts on SPY
SPY PT 04/2021 Week 14 UpdateJPOW holding up this great American market like Atlas with the world on his shoulders. Good economic projections, good month historically & statistically, and according to wave theory you have to break previous highs in any major trend. Rising wedges to infinity while the boomers feed off the interest.
Took my previous PTs and ate them in a bowl without any milk.