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SPY is now BULLISH?| Geopolitical Events | 1h, D, 1W ChartIntroduction Things are looking spooky after the constant rise of bond prices, with the 10-year yield hitting 5% this week, the highest level since 2007. We'll go over how these important patterns are playing out all over again. This is without a doubt a very scary time for the stock market, with rumors of a recession from earlier this year. Should we be worried? As we talked about last week, NYSE:LMT was a ticker we were observing as the Israel and Palestine conflict continued to see how it would affect prices, now we are looking at how the overall stock market is affected. Let's dive in. *For a quick overview, please reach the end of the page for the analysis conclusion. AMEX:SPY 1H Chart (Inverted) FRVP: Oooo just look at how the Elliot wave hit the line perfectly on the FRVP, we're going to keep an eye out on any important volume areas and see where things consolidate and stay in place, which is what I'm predicting coming the next few weeks, for things to be horizontal. Usually in these areas, we see that they can play as a level of resistance so we'll see. Elliot Waves: I believe we are now on an upward trajectory, after the (12345) we should of course according to Elliot wave theory, follow up with an (ABC). We can see when we bring indicators into the mix how this may be a likely scenario, but of course, there are still many other scenarios to consider., this is as close as I can get to predicting what happens next. Fib Retracement: The retracement is there to see the likely spot of the (B) wave, this is just an estimate and may not hit perfectly but it's there just in case. MACD: We are now showing bullish divergence on the MACD which is what we want to see in this case if we want the Elliot wave to play out. RSI: After hitting oversold in September, then again later in October, there is a very high chance for upside in the market , especially after a long while of bearish behavior. Not only all that but we have just broken through the 60.00 level, which shows that we may be in a bullish move now. If you are wondering why I wrote still oversold it’s because at the time of making the chart I did not expect it to hit the 60.00 level just yet. AMEX:SPY D Chart Fib Retracement: AMEX:SPY Struggles to continue higher through retracement levels, although hope should not be lost, we are now entering what seems to be a consolidation period before either a big move down or big move up , all depends how everyone is feeling about the stock market, fed, bonds, inflation, etc. As long as 0.5 plays as some sort of support, we should be in a bull market Moving Average: 200 D is just there to see historic price action and levels of support/ resistance, not much information I gathered on it, it's just there. MACD: Looks like we're nearing the end of this short, no cross as of yet. Stock RSI: You see it, we have a cross yet nothing to be excited about still have time for things to play out. FRVP: Wow who could have guessed, the FRVP plays a support level. Let's see what happens in the coming days. Elliot Waves: Do you spot the pattern? I sure do. We see similar historic behavior fold before our eyes. Back in 2021, we had a full Elliot wave pattern play out the same way it's doing now, but only smaller. Will this play out? From our indicators and trend analysis it seems likely. RSI: Not sure about the Elliot waves? It's okay that's fair, tell you what, I put a possible play that could happen in the RSI that could help us see if this will play out appropriately. AMEX:SPY 1W Chart *Put the TVC:DXY to show how history has played out between the US dollar and stock market, obviously they are inverse of each other. Conclusion We are in a difficult situation with bonds, inflation, oil prices, and other worldly factors that can impact the market. But I have faith that we are just in a fear phase and it will soon pass. This is what I call a buy opportunity. Please support me by boosting and following me on my other media platforms, if you have any questions please leave a comment as it helps the algorithm :)
AMEX:SPYLong
by DenzelitoTrades
$SPY Bearish to Bullish Reversal?A bearish to bullish parallel downtrend break is a technical analysis pattern that occurs when a security breaks out of a downtrend channel to the upside. This pattern is considered to be a bullish reversal signal, as it indicates that buyers are gaining control of the market and that the downtrend is likely to come to an end. To identify a bearish to bullish parallel downtrend break, traders look for the following characteristics: A downtrend channel is formed by connecting the lower highs and lower lows of a security's price action. The security breaks out of the downtrend channel to the upside. The breakout is accompanied by an increase in volume, which indicates that there is strong buying pressure behind the move. Once a bearish to bullish parallel downtrend break has occurred, traders may enter long positions in anticipation of further upside momentum. Traders should also place stop-loss orders below the breakout point to limit their losses in case the security falls back into the downtrend channel. Here is an example of a bearish to bullish parallel downtrend break: As you can see in the chart, the security is in a downtrend channel when it breaks out to the upside. The breakout is accompanied by an increase in volume, which confirms that the breakout is legitimate. After the breakout, the security continues to move higher, confirming that the downtrend has been reversed. Traders who entered long positions at the breakout would have been able to profit from the subsequent rally. Conclusion A bearish to bullish parallel downtrend break is a bullish reversal signal that can indicate that a downtrend is coming to an end. Traders can look for this pattern to identify potential trading opportunities. However, it is important to remember that no technical analysis pattern is foolproof, and traders should always use risk management measures to protect their capital.
AMEX:SPYLong
by AlgoTradeAlert
SPY Short Prediction - 10/15/2023Unqualified prediction: SPY looks to be rolling over on the 1hr with multiple historical zones of support and resistance overlapping in a concentrated range (specified in-chart.) This in a TA sense would indicate a potential fight between buyers and sellers for control of price action, but macroeconomic fundamentals and geopolitical concerns, as well as ER volatility make for turbulent waters with this amateur analyst biased towards the downside.
AMEX:SPYShort
by UseTheSchwartz
ES Bull Flagging into 4400ES Hourly Analysis - Bull Flagging into 4400 Price action was quite choppy today and was hard to read. When that happens, it's best to just step away and let price paint a picture for you over a period of time until the direction is clear. That is exactly what ES has started to do. On the 2-5 minute chart this looks like a mess, on the hourly, it's painted a beautiful picture. It is showing us that ES can not close 4400 and that any time it dips below, buyers keep stepping in. 4400 has become the battle field. We are basing/consolidating for a big move, which is expected due to this being a volatile week. While we are in a volatile week once earnings start to report, and with current world news, don't swing for the fences when entering trades. Keep it logical. Supports: 4400, 4390, 4375. Resistance: 4410, 4415, 4425.
CME_MINI:ESZ2023Long
by AmpedTrading
SPY S&P 500 ETF 2023 Forecast. CPI Report PredictionAfter those Put options went to the target: My timeline for SPY S&P 500 ETF after the CPI report on Feb 14 is this: 1. CPI data will come better than expected. The medium forecast in 6.2, I expect 6 - 6.1. - The market will be exuberant afterwards and SPY will reach $431 by March 1st, thinking that the FED won the fight against inflation. 2. While inflation continues to be sticky in March, the FED will continue increasing interest rates and won`t stop until something cracks in the economy. Another 25bps increase. - The market is expected to react and the SPY will reach $376. 3. They year will end in a positive note, the was in Ukraine will end and the supply chain disruption that was one of the factors of high inflation, will be restored. Inflation don to 3%. My prediction for SPY by the end of the year is $436, a 15% increase YOY. Looking forward to read your opinion about it!
AMEX:SPYLong
by TopgOptions
2
Unlocking SPDR S&P 500 ETF Trust's PotentialAt the start of 2023, our key assumption was that bullish trends would dominate the market this year despite the challenging global macroeconomic conditions following the post-COVID-19 era. Our prediction proved accurate, as the SPDR S&P 500 ETF Trust has already surged by over 10%, despite the ongoing high hydrocarbon prices. Bears have been trying to regain control and putting downward pressure on SPY in recent weeks. Adding fuel to the fire was the news that the Federal Reserve is ready to raise interest rates again if necessary, Jerome Powell said following the meeting at the end of September. "Given how far we have come, we are in a position to proceed carefully as we assess the incoming data and the evolving outlook and risks. Real interest rates now are well above mainstream estimates of the neutral policy rate, but we are mindful of the inherent uncertainties in precisely gauging the stance of policy. We are prepared to raise rates further if appropriate, and we intend to hold policy at a restrictive level until we are confident that inflation is moving down sustainably toward our objective. In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments." However, despite the negativity spreading in the media, in our opinion, all movements are taking place within the framework of corrective wave 4, which will be completed this week. Overall, we believe that the Fed will not tighten its monetary policy as American savings continue to decline, which, given the rise in household debt, poses a significant threat to the stability of the US financial system. In conclusion, we would like to note that we are optimistic about the American economy, which is showing its stability while China cannot recover from the COVID-19 pandemic. As a result, we expect that the price of SPDR S&P 500 ETF Trust will continue its movement within the impulse wave 5 up to $461-462. Analyst’s Disclosure: This article may not take into account all the risks and catalysts for the assets described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
AMEX:SPYLong
by AisenQuantum
4
SPX SPY in No Mans Land, Never seen before in market historyThis is a weekly chart and I meant to share this on Friday; but forgot. Blue vertical lines are the paths from previous bear market lows to new all time highs, over-layed to the bottom of October 2022. Red vertical lines are the bear market paths from all time highs to bear market lows, over-layed to the high of January 2022. As you can see we are no longer following the path of the "new" bull markets, and we we deviated away from bear market paths... well a while ago. So should we have been on a bear market path this whole time, but the stimulus from Inflation Reduction Act and Chips Act helped support the market for just a short period of time?!?!? Well we will find out. I just know this is truly a historic pattern.
SP:SPX
by Options_Trading