GAMEPLAN FOR FRIDAY, MAY 20,2022 Today was just a sideways trend. If the light uptrend breaks, tomorrow's market is seeing new lows. Keep in mind if you are an options trader, don't try to hold anything. Just scalp and swing them/ Market makers are doing their best to decrease the premium by trading the market sideways. A break above 396 is bullish, and a...
Gameplan 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...
GAME 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...
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...
Yesterday's game plan went fantastic. We are officially in an uptrend (short term) minor correction of a downtrend. We can see a dip at the opening as it needs to cool off for the next leg up. Drips I'm looking at, the levels are 425.66-425.95; if this one slides, then will see 421.78- 422.56. Volume was there, and we saw a massive rally at the end of the day....
⭐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...
Since 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.
Today's bar was a bullish bar and went above the high of yesterday's low volume bar. April 27 and April 28 were low volume days as well. When price continues to put in new highs despite these low volume days it is a good indication price is headed higher. 4250 and 4300 are the next targets for the S&P. I do not advocate buying into the highs so entering on...
SPY is running to ATHs. Record equities flowing into markets, intergenerational wealth transfers, vix declining, running into a 5-wave impulse to the moon.
HI! We are trading in a nice Rising Wedge channel and retesting the support area. In this case we may have a small pullback. The Stochastic Momentum Index is curving down + the Histogram . Waiting for a confirmation (to hit the Fibonacci levels / On the smaller time frames (1h / 5m) to identify patterns to enter a long position. For a small period I`m bullish...
Rising Wedge SPY Entry Short Price 371.70 Target Price 368.83 ish SL 373.65 Risk Reward 1/3 Georgia elections hovering over the market. Probably going to drag on for a few days. Consider 15Jan367P puts at entry point Option Symbol .SPY210115P367 Comment below your thoughts on this idea.
Some description: A) A break below is a short term sell signal targeting 3032/30 - 3025, perhaps as far as 3015. The first resistance is at 3100but shorts need stops above 3120. B) A break above the 3156 high this week targets 3160 and 3185, perhaps as far as 3200. Good luck trading!
Over the weekend it looks like the virus has gotten worse within the US. The may lead to more downside this week. We are currently in a correction zone but below $271.2 we are in recession territory or 20% down from our previous highs. I think that $286 and $281 will be hard resistance to break through to go lower. I am going to long puts on SPY but also hedging...
Just noting that the violence of yesterday and today seems more pronounced than August's sell off. We blew right through the gaps at $291.06 and $288.92. That in itself should tell you this should not be played with. This is the proverbial freight train with no brakes. There strictly aren't any buyers. BUT with that being said we're extremely oversold on every...
Morning Notes: 05/10/19 Trading Environment-Short Term: Current Environment-Neutral/Bearish Hi Everyone, Futures are under some selling pressure this morning, but well off the lows we made yesterday. The bulls are trying to form some bullish divergences and I would stick with a hold rec here. The 2942 short was a great entry and let's just manage that...
Ahoy mates! From a long term oriented view the S&P seems to have confirmed the start of a downtrend with pretty significant selling volume . We have cleared the 14 EMA support and it looks like we are headed to test the 50 EMA that is currently sitting on 236.12 for SPY . The EMA is definitely trending near the 24% fib pullback line of 240, 2400 would give the...