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Spyforcast

SPY leg higher?I think it's worth taking some risk here as the chart looks set up for a leg higher. Using the fib tools I'm targeting $482 - $486 / 1.618 It's already made a 50% retracement nearly to the dollar and tried to for an all time high. I believe SPY price will break that level and make another ATH. Volume is increasing although there is a lot of trading activity in the current range. It may not go straight to $482 but I think $475 will hold as support. If not then $472 will be in the cards and a sell-off could ensue. Past bull markets have gained 200% so it's not unreasonable for SPY to touch $500, especially while we have this momentum. If it doesn't happen now then I think there is less and less of a chance it happens in the first half of the year. I think we'll see $500 or $5000 SPX by February of this year.
AMEX:SPYLong
by DontSlamTheDoor
SPY 2 Week ForecastAMEX:SPY I'm doing a quick analysis of basic price action from the start of 2024 thru the end of January. AMEX:SPY $475 is a possible support High and Lows for this year are identified, a break of either of those could generate a more significant move in the same direction. We could see a lot of chop between AMEX:SPY $478 and $472, but if $472 holds then there is still a case for more All Time Highs in the future. Using a fib extension from this year only, 1.618 value would put us around AMEX:SPY $490 - $492 which for me a reasonable move up. 3% or so is something SPY can do in a week easy. Using an offset moving average , $476 would become support 50 days out. This is just what the moving average gives, but it seems reasonable. JPM issues $5100 price target for SP:SPX this year 2024.
AMEX:SPY
by DontSlamTheDoor
The future of the SPYbased on fib pattern analysis i've been working on for around 2 years this is the beginning of a belief i can nail down the path of the future based on observations the next couple of months. on this chart timing is not accurate but the circles that hover over lines have some important factors to consider. all orange circles are possible retracements but none are guaranteed. on the flip side the green circles hover over lines that will be 100% achieved with the white line being the possible end of this bull run up. this will go to the end of the year and if i have timing right already which i don't claim to, look for spy 505ish by end of year. spoiler alert, at this point i have spy at 160 in two years but that's without enough info to make a real assessment. i am positive about the targets above and drew price levels so you have an idea. also drew a line at the highest point the spy has ever reached on that particular RSI indicator. my guess is we will be kissing it at the 505 or upper white line target whenever that is achieved by.
AMEX:SPYLong
by Gamma-Rat
1
S&P500 TECHNICAL ANALYSISAs for S&P500 the index retested 4586.00 zone which presented some buying, as far as the long term trend for S&P 500 is bullish I will remain so and look to find buying opportunites only if the index trade above level 4588.00, but if the index break the level 4588.00 I will remain bullish but for me to take the trade I will want the index to trade above 4588.0 but for short positionsI want to see the 4544.00 level take out which for now it seems impossible but, nothing is impossible in trading, my t.p for long position will be @4640.00, which is more of a swing trade.
BLACKBULL:SPX500Long
by juniormoseki1
$SPY Market top playing outAs I've mentioned in my previous analysis, I believe we're at a market top (Despite Tom Lee calling for new highs). There's nothing positive for markets looking forward, therefore I think markets will finally price in all of the raise hikes and the poor economy. I think we may see one more high, however, if we do, I believe it'll result in a rug pull. I think the FOMC meeting tomorrow will largely be bullish for markets, but then after that, Thursday, Friday or into early next week, we'll see the market reverse. I'm looking for the move to hit the targets laid out on the charts. $412, $397 or $393 as the bottom. With hindsight, I think the move will mark the top of the market and we'll continue much lower. Bear market continuation targets shared here. Let's see if it plays out.
AMEX:SPYShort
by benjihyam
4