SPY levels going into next week SPY levels going into next week. using price to volume analysis, time frames used weekly, daily and intraday for support and resistance levels.
Spyoptions
SPYGAMEPLAN 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 break below 395 is bearish.
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.
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.
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.
MAy 5,2022 SPY Game plan 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. Make sure you are on the right side of the market. Shorting here should be considered high risk and if you want to short, wait for the trend to break. Playing with calls tomorrow can be fun but make sure to look at the trend always. For now, we are incredibly bullish.
$SPY 500: Strong Bullish Divergence!⭐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 confirmed by 2.32 Fib and large VPVR node + selling volume.
⭐For bullish price action a 3D close above 446 is needed to reclaim Ichimoku Cloud support.
⭐Strong Bullish Divergence on the MFI hints for a breakout
⭐Options Chain bullish 70k Volume + 20k Open Interest at 450 which makes it a likely target. Lower targets than this are unlikely due to the bullish options chain.
*WARNING* This thread is not financial advice. I am not a financial advisor.
SPY Monthly Bull/Bear CycleSince 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.
SPY: Buyers come in again after a low volume dayToday'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 pullbacks
waiting for a price action entry is best.
We'll see what tomorrow's bar brings.
SPY PT 04/2021SPY is running to ATHs. Record equities flowing into markets, intergenerational wealth transfers, vix declining, running into a 5-wave impulse to the moon.
SPYHI! 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 on SPY.
Today may be a day with nice discounts on markets. Have a plan ! (Exit target- Entering point).
Have a nice weekend everyone! .
Rising Wedge SPY Short Near TermRising 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.
SPDR(SPY)/S&P 500 ETF - SHORT TERM LONGSome 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!
SPY more down?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 this week until we break $286 and $281.
Broken head and shoulders neck line, extremely oversold. 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 TF besides the daily, which leads me to believe we could see a short cover rally today, and possibly some more follow through to the $282/200MA level tomorrow. I wouldn't be surprised if we get a backtest of the neckline/trendline at the $290 level. I've been in and out of this the past two days on /ES and have had a net short position in SPY since we got back up to $300. Watch for the non farm payrolls number on friday, but until then there's no brakes on this thing and the negative news everywhere seemingly is adding to the velocity. Watch for the bounce, it will come eventually.
First target is the $274 May low, and second target around the $262 level.
Good luck.
05/10/19 Morning Notes-SPY PivotsMorning 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 position with stops. As Woody mentioned yesterday, we are not in the "Kill Zone" time period yet and the set up to lore everybody back into the shark infested waters, is to let them think the waters are safe by bouncing the spx back near or above the previous highs as we head into the hard downside time period.
With that said, where will the markets find a low? That is hard to say, but if the bears push the spx below 2836, I think we could see 2814/2810/2797 come into play in the coming days. One may be asking-if those are the targets, why wouldn't I just short? From my view, I think the risk out-ways the reward from these levels. That may end up being wrong and we see the spx trading down near the 2722 short term target 2, but we could also see some type of double bottom and the bulls ramp up the indexes. If you want to just jump, I would use a break of 2836 to short and place a stop at 2873. Do you see what I mean by risk/reward not being there? That is a big spread for a scalp trade, but could end up working out. Just not for me, but may be worth it for some of you out there.
I am more on the side of looking to scale out instead of in. If I see 2810, I would be more incline to take 1/3 of the position off and move the remaining position stops lower. That will lock in some profits and still have a position if this move lower goes viral. And this is why we only give pivots/short long and stops, everyone has a different trading style. But I am going to move my stop down to 2903 and if we see 2810-ish come into play, start scaling out of my position.
The range SPX range for today is 2872 high and 2847 low.(gap numbers) A break of 2876 the spx should try for 2879/2898. A push below 2847 we could see 2836/2820. Have A Great Weekend!! G
SPX CASH 60 minute technicals
Stochastics: Oversold
Divergences- No Divergences
Resistance Levels: R1-2872 R2-2879 R3 2898
Support Levels: S1-2847 S2-2836 S3 2820
Trending Pivots: Lower
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[SPY Short to 240] The Bull isn't Dead he just Needs a BreakAhoy 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 S&P solid footing to continue a run or at least a small rally in 2019.
The 236 – 240 range for the market will be vital, this is where we have a trendline (Dashed white line) that goes all the way back to 2009 with wicks down tapping this support in 2011 and 2016. This trendline marks the very bottom of the market to the breakdown in 2011 that crushed the 50 and 100 EMAs but found support at the 200 EMA , our second point of support in the longterm upwards trend. Again in 2016 the market faltered, finding support at the 50 EMA , another point of support for this trend.
Currently that trendline sits below the 50 EMA , so if we break 240 and then 236, we could at least hope for a bounce on that trendline between 225 and 230.
If SPY cruises past 2400 and doesn’t bounce in 2300 2250, it is more likely than not that we would test high 2000s for a 38% pullback to the 100 EMA .
Now that’s worse case scenario. More likely is we have a full 24% back, maybe hit the 50 EMA and bounce up again before we retest that white trendline in mid 2019, early 2020.
Another indicator I’m watching is RSI , in 2011 at around the 45 RSI mark we saw the S&P recover, in 2016 it bounced back around 48-49 RSI . We’re at an RSI of about 49.5 on the monthly right now, which means we could easily go as far as 240 before repeating 2011 as many are saying.
I think we have a lot to look out for here in how bad this could get, the indicators really speak for themselves on this chart.
Either way, I'm short to 240, then seeing where we go from there.
**This is not advice to buy or sell, what you do with your money is your responsibility.**
Happy trading
