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Spyforcast

SPYTODAY SPY HELD BETTER THAN NASDAQ. Spy is on an uptrend with ascending triangle but can be a possibility of rejection on resistance (398). If SPY gets rejection on resistance, spy sees 380 level again as main support for now. Two scenarios for tomorrow's game plan: 1st- If rejection on resistance and uptrend breaks, the spy will mostly fall back to the 380 area support level. Puts June 3 strike 390 2nd- If spy Breakthru resistance, then the possibility of 409. Call June 3 strike 405
AMEX:SPY
by UnknownUnicorn11669057
$SPY Let's See Where We GoCurrently, $SPY is working with in solid range, but it looks like $385 might be the bottom. If it breaks $385 we will move down to $330 but I doubt it breaks. I think is not the beginning of the end but the start of a new trading pattern. Chop possibly for the rest of the yea. Up and down movement working within the range of $450-$410, but again the market can do whatever it wants but my guess is we do not see $500 for another 2-3 years, we got some consolidation to do before we get that type of movement, the last two years are bad examples of the market volatility and movement. The market relied heavily on tech stocks to bolsters itself through the pandemic, with strong earning reports quarter after quarter from the FAANGs (largely tech companies), the "market" was able to rally. The "rally" was more so bullish sentiment built on a façade, it was like looking at a mirage of water in a desert, it looks great but when you finally get there, there is no water. That is how our market acted, we finally got to the top, we got out of the pandemic and we realized there was no water. The market was overbought, there is a myriad of reasons why: stimulus checks, retail trading boost, people staying home, transportation cost reduction, you name it. Yet no one factored any of these into their estimations, like how could you not factor in the price of gas in a company like Amazon, gas costs went down, product costs remained the same, margin increase. But let's say you did see that and factor it in, you also missed the fact that over millions Americans continued to eat, while the workers to produce food decreased, leading to a decrease in reserve supplies to produce food, leading to global shortages that we will be facing in the next couple of months. By the time most people realized this, it was too late. But none of the matters because now people overreacting, they are selling everything and that's where you the smart savvy investor come in. Snapchat is down 40% today (5/24), oversold, when people are bearish bad news becomes the worst news in history, and this plays into my theory. That the reason the market is tanking is not due to some economic collapse, the stock market doesn't work in tandem with the economy anymore, not since 2008. If it did, 2020 and 2021 would have been much worse. No the stock market operates on it's own and is controlled by major capital. Tech stocks need to rebalance, they were overbought, this should not be a shock to anyone. In order to achieve in equilibrium in the stock market we most lower the prices of the FAANGs + MTBV, this will allow the market to find a balance to build up from. The issue with selling the FAANGs + MTBV is that drags down the entire market, which if you remove the tech sector has been down for the last couple of months, so mid-caps and small-caps have been hammered by this downward movement. Snapchat being down %40 is a buy opportunity, Pinterest losing 23% off Snapchat bearish sentiment is a buy opportunity, Trade Desk hitting almost a 2 year low, buy opportunity. Even if I am wrong, and the market turns down for the next 1.5 years, in 3 years you will have made a profit. That is the wonderful part of the stock market, in a 20 year time span you are less than 0.01% to lose money. But if I am correct and the market jumps from here you just missed your best buy opportunity. FAANGs + MTBV: Facebook (Meta) Apple Amazon Netflix Google (Alphabet) Microsoft Tesla Berkshire Hathaway Visa
AMEX:SPY
by chasenlz
2
SPYToday we saw a massive sell-off from all the sectors because of what Powell said yesterday. Powell mentioned in the interview yesterday that they "will continue raising rates until we see Inflation coming down." which is why investors showed a sell-off today. Now looking at the charts. There can be two possibilities tomorrow. The first one is that there can be a continuation of straight downward to 385 level. The second possibility is that there can be a bounce to the 395-397 area and then down again to the 385 level.
AMEX:SPYShort
by UnknownUnicorn11669057
SPYGameplan for May 17, 2022 Spy did hit resistance and support all day with a small ascending triangle in mid-session, then got rejected on resistance. At the end of the session, the spy broke the uptrend line but still needs support to break so we can short it. We will see what happens tomorrow. For now, observe, and there can be two scenarios because when sideways is a trend, make sure to watch and then play when it breaks. If it breaks, resistance go long and breaks support will go short.
AMEX:SPY
by UnknownUnicorn11669057
SPYGAME PLAN FOR MAY 16,2022 Spy's significant resistance level, for now, is 403.50. Make sure to observe the market from 7:00 am till 9:45 am EST. There are two scenarios for now. The first scenario is that if the resistance level gets destroyed, wait for the candle wick to come back at the resistance area from that point to go long to 410 -415 level. The second scenario is that if the spy gets rejected from the resistance level and then the support area is 397.00 area if that gets destroyed as well, then short spy to 385 area.
AMEX:SPY
by UnknownUnicorn11669057
SPY Game Plan for May 13, 2022 Make sure to observe the 392.50 area as spy resistance for now. If that resistance breaks, we must wait and have patience, then go long and never chase. Overall, spy daily RSI at 30. Significant consideration note to take. But still, plenty of room to go down as RSI is calculated and first, down to 30 can be a fakeout, then 50, fall again back to 30 RSI, which means price movement will be way different and can go down far beyond imagination. Two Scenario for tomorrow: First one: Observe the market from 7:00 am-9:30 am EST. If we see a sell of pre-market, then for sure, on market hours, we can touch the resistance of 392.50. then back down again. Second: If the resistance gets destroyed, wait for the cool off previous resistance to become support and go long from 392-394. OPTIONS Look at May 20, 2022, 380 puts if 392.50 area gets rejected and go long when resistance gets denied, then play with May 20, 2022, 405 calls.
AMEX:SPY
by UnknownUnicorn11669057
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.
AMEX:SPYShort
by FriendOfTheTrend
3
SPYSPY is trying hard to go up as it bounces back from the support and has seen the 405 level twice. This area should be considered in high demand for now. Looking at the futures right now, they are already down -0.50%. Two more things to consider: 1. MACD is trying to cool off as well with RSI. 2. If we see a bounce back from here and break the downtrend, we might see a reversal, but if the 425-430 area gets destroyed. I'm going to play with calls tomorrow because on May 11, there might be a sell-off considering the CPI report.
AMEX:SPY
by UnknownUnicorn11669057
Spy forecast Spy levels to watch for- the yellow 436.58 being the 0.5% fib on the fib speed resistance fan. and 423.63 being the 0.38% or (.25%) 440 is acting as resistance. if it breaks lets see if it can hold and go from there. could test 442-443 again. for my opinion and im racing the clock on this 15min edit window. if we dont breech and go lower we stay between 437-441.50 (short term/ like today maybe/ highly unlikely). if we do go lower, which i think that is a good chance, it COULD eventually test those 432-430-428 levels then reassess from there. doesnt mean it has too. its just until goes lower there isnt really any big things to say till then. or im tired from retyping this. that also doesnt mean i think we HAVE to go there before ripping faces off to the top side. this market is very wild and honestly today will be very telling
AMEX:SPY
by Jbridgez