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$SPY Options | Trump Week TwoAMEX:SPY Fear and panic has spread in the market, but buyers ate it up by end of day (1/27). There is a gap from December 18th up to $603-$606. $603.44 is the key pivot for bulls and $591.54 for the bears. For our weekly options trades, we use 15 or 30 minute candle closes for confirmation and stop-loss. $603 CALL 2/11 Entry: Breakout/Hold Over $599.92 Targets🎯: $603.44, $606 $595 PUTS 2/11 Entry: Breakdown/Rejection Under $599.92 OR $603 Targets🎯: $595, $591.54
AMEX:SPY
by PennyBois
Bull & Bear into the New Year | Week 1 2025 $SPY OptionsAMEX:SPY Last week, our $585 PUT 1/13 was a killer, producing two daytrades that ran for 50% and 132%! Here is what we are watching for this week: We have reclaimed bullish trend and expect consolidation within this range from $584.59 to $607.45. Last two weeks have been low volume and profit taking. We are using this bullish trendline for confirmation using 15-30 minute candle closes. $601 Call 1/24 Entry: Retest and hold of bullish trendline Targets 🎯: $599, $601, $603, $608 $590 Put 1/24 Entry: Breakdown and failed retest of trendline Targets 🎯: $590, $584.59
AMEX:SPY
by PennyBois
SPY Triple Bottom, Rally time?!AMEX:SPY SP:SPX I'd really like us to end the week above $580 in order to have this either Double or Triple bottom friends! I could see a flash crash down to fill the price GAP at $574.81 as well. Either way from what I'm seeing on the TVC:VIX , Economic numbers, and the charts I believe we are getting close to a bottom friends. Consolidate down to only the best names until we receive that confirmation. They did a fake out today and another FED putting FUD into the market didn't help with the GDP projection. Not financial advice.
AMEX:SPYLong
by RonnieV29
31
Bull & Bear New Year SPY OptionsAMEX:SPY We see the indices having a tough January. Long-term trend is still intact. The 10-year yield is a benchmark for bulls/bears. It needs to be down to 4% (currently 4.5%). If it hits 5%, the pullback will intensify. There is a high floor of support on pullbacks, notably the 50SMA ($580) and 200SMA ($550). We are not thinking bear market. We are overextended. $595 CALL 1/13 Entry: Breakdown under white trendline Targets 🎯: $595, $598.67 $585 PUT 1/13 Entry: Breakdown under white trendline Targets 🎯: $585, $583.56, $580 Best of luck to you all and a happy new year from all of us at Pennybois! 🥂🎆🥳
AMEX:SPY
by PennyBois
Bull & Bear Options for Week of 11/25 (184-210% Last Week)We are back after another banger week for SPY options. Last week's $590 Call 12/2 confirmed twice off $586 returning intraday gains of 48-67% on Tuesday & Wednesday and reaching highs on Monday 11/25 of 184-210% Here are this week's options: Range: $583-$598 ($590 mid-point) $595 PUT 12/9 Entry: 15-min candle close BELOW $598.67 Targets: $595.50, White trendline Stop: 15-min candle close ABOVE $598.67 $605 CALL 12/9 Entry: 15-min candle close ABOVE $598.67, 15-min retest and close ABOVE $598.67 Targets: $601, $605 Stop-loss: 15-min candle close UNDER $598.67
AMEX:SPY
by PennyBois
1
SPY S&P 500 ETF End of the Year Price Target If you haven`t bought the recent dip on SPY: Now with Goldman Sachs lowering U.S. recession odds from 20% to 15% and raising their 2024 year-end S&P 500 target to 6000 from 5600, the outlook for the market appears increasingly optimistic. The reduced recession risk suggests stronger economic stability, and the upward revision in the S&P target points to continued growth potential. Given these factors, I agree that a year-end price target of 600 on SPY is achievable.
AMEX:SPYLong
by TopgOptions
1
Comprehensive Technical Analysis: SPX 10-Minute ChartThis SPX 10-minute chart shows a clear intraday shift from a bearish to a bullish trend, accompanied by multiple technical signals. Let’s break down the analysis across different technical components: 1. Trend Analysis: Initial Downtrend: The session started with bearish momentum as indicated by Put Signals and declining price action. The lower lows created a brief bearish trend that ended with a strong reversal. Bullish Reversal: The reversal is confirmed by a series of Call Signals after a strong bullish breakout from the previous consolidation zone. The price broke above a significant resistance level around 5,731.94, leading to a steady uptrend. 2. Moving Averages: Short-Term Moving Average (Orange Line): This acts as immediate support during the bullish run. The price consistently stays above this line, indicating short-term bullish strength. The slope of the moving average is steep, reflecting increasing bullish momentum. Mid-Term Moving Average (Blue Line): Positioned further below, the blue moving average provides a broader support level. This indicates that the medium-term trend remains supportive of the upward move, showing a well-established bullish context. 3. Heikin Ashi Candles: Bullish Momentum: The Heikin Ashi candles display a strong bullish pattern with several consecutive yellow candles and minimal lower wicks, indicating reduced volatility on the downside. Temporary Pullback: A few red candles appear, marking brief consolidation but not a trend reversal. The continuation of yellow candles afterward confirms sustained bullish pressure. 4. Key Signals and Levels: Entry Long: A long entry signal is observed after the breakout around 5,731.94, which was an excellent point for entering the bullish trade. Exit Long: The Exit Long signal near 5,776.76 suggests taking profits after the bullish move. This level now serves as short-term resistance. Support Levels: Immediate Support: 5,755.43 – A pullback to this level would still align with the bullish structure as long as it holds. Major Support: 5,731.94 – This level marks the breakout point, acting as a strong floor for further bullish moves. 5. Volume and Momentum: Although volume is not displayed, typically such strong moves (as indicated by Heikin Ashi and moving averages) are accompanied by rising volume. Momentum: Bullish momentum remains high, supported by consistent upward price movement and the sustained hold above the moving averages. 6. Resistance and Future Outlook: Immediate Resistance: The price is facing resistance at 5,776.76. A break above this could open the path to higher levels, potentially testing psychological levels like 5,800. Continuation or Pullback: If the price breaks above 5,776, we can expect a continuation of the uptrend. However, a failure at this resistance might lead to a short-term pullback to 5,755 or even 5,731. Conclusion: The chart reflects a strong bullish reversal with clear signals of upward momentum. Traders should watch the 5,776 level for a breakout confirmation or potential pullback to the key support levels at 5,755 and 5,731. Maintaining the trend above the orange and blue moving averages will be crucial for sustained bullish movement.
AMEX:SPYLong
by Deno_Trading
Weekly Options: Range Bound and Prepped for Both Up or DownAMEX:SPY AMEX:SPY is currently consolidating between a key support level and long-term trend support, hovering in the $580.90 - $583.60 range. The market's short-sighted focus on upcoming major tech earnings and elections has kept price movement tight. We’re positioned at a crucial point that could either send AMEX:SPY surging to new all-time highs or testing the daily 21 EMA for support. While our bias leans bullish, the downside trade presents a hedge opportunity, especially valuable for tech-heavy portfolios. Our Weekly Options 💡: 📉 $577 PUT 11/6 Entry: Confirmed 15-30 minute close under $580.90 with a retest rejection 🎯: $578, $576, $574.73 📈 $582 CALL 11/6 (Consider Call Debit Spread to lower cost: $584 STO | $582 BTO) Entry: Confirmed 15-30 minute close over $580.90 and trend support 🎯: $582, $583.60 Stay prepared for a potential breakout or breakdown with these setups, and let the chart confirm the direction.
AMEX:SPY
by PennyBois
280% Last Week...Here's the next oneAMEX:SPY Pennybois weekly options. Two weeks ago we gave you the $555 CALL 9/27 with a break over $500. ($460 -> $1763) Remember, we are preparing for both sides of the equation. The chart will show us what to do. 15 minute candles CLOSES for confirmation. Short-term Range: $568 to $572 ($570.36 mid-point) $538-$545 is an accumulation zone. Shay is leaning bearish to retesting September lows but doesn’t think we will fall below $510. Low volume yesterday. September and October can bring some “wonky things”. Great time to get some cheap hedges. Polarity at the election. Chips off the table until clarity into the market? $570 CALL 10/11 Retest & Close OVER $568 Targets: $570, $572 $570 PUT 10/11 Rejection & Close UNDER $572 Targets: $570, $568
AMEX:SPY
by PennyBois
$SPY Weekly Options | Bull or Bear? We got both covered!AMEX:SPY We are seeing a clear technical pullback, but nothing trend breaking. 21EMA on the weekly is our guide. We are watching $550 as our pivot this week for our options contracts. For these contracts, we will be using the 15 or 30 minute chart and candle closes for confirmation. $555 Call 9/27 Entry: 30 minute close OVER $550 Targets: $555, $559.58 Stop-loss: 15 or 30 minute close UNDER $550 $545 PUT 9/27 Entry: Break above $550, 30 minute close UNDER Targets: $545, $540 Stop-loss: 15 or 30 minute close OVER $550
AMEX:SPY
by PennyBois
SPY 5-Minute Chart Analysis Targeting Opening Range BreakoutLooking at the SPY 5-minute chart, we’re seeing some clear bearish signals after what seemed like a potential recovery. Let me walk you through the main things that stand out. What I’m Seeing: Resistance at $554.41: The price reached a high of $554.41 but failed to hold, showing clear rejection at this level. This resistance has become a key point, as each attempt to break above it has been met with selling pressure. Drop to $541.77: We’re now seeing a sharp decline, with the price currently sitting around $541.77. This steep drop indicates that the sellers have firmly taken control. Failed Support at $548: Earlier, $548 was providing some support, but once that level broke, it led to a cascade of selling down to the $541 - $542 zone. What I Expect: Further Downside: Given the current momentum, I wouldn’t be surprised if we test the $540.97 level soon. If this level breaks, we could see a deeper drop, potentially targeting the $540 psychological level or even lower. Potential Bounce: If buyers step in around this $541 zone, we might see a short-term bounce. But unless we reclaim $548, I’m not convinced that a reversal is coming. My Takeaway: Right now, the price action is heavily favouring the bears. The failed break above $554 and the sharp drop tell me to stay cautious. If I were trading, I’d lean towards short positions unless we see a strong reversal above $548. Let’s see how it unfolds!
AMEX:SPYShort
by Deno_Trading