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Spysignals

SPY All eyes on the 1D MA50. Will it hold?SPY broke below the (blue) Channel Up and the only Support standing now is the 1D MA50 (blue trend-line). This level has been holding since the November 03 2023 break-out. If it holds, a new pattern will emerge but the medium-term bullish trend will stay intact. If the 1D MA50 breaks though, we expect a bearish extension similar to August 15 2023, February 24 2023 and December 16 2022. As you can see those 1D MA50 bearish break-outs coincided with the 1D CCI breaking below the -100.00 oversold barrier. This is the level that the CCI is at today. As a result, once the 1D MA50 breaks, we expect further decline towards the 1D MA100 (green trend-line). The shortest decline among the pull-backs mentioned above has been -5.93%. This gives us a rough estimate of 495.00. That would be the most optimal buy entry for the long-term. Our Target by the end of May will be 524.50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
AMEX:SPY
by TradingShot
1
"SPY Peaks: Signs Point to Market Reaching Pinnacle"SPY ETF Approaching Critical Resistance Amid Bearish Signals The SPDR S&P 500 ETF Trust (SPY) has been a focal point for investors seeking exposure to the broader equity market. However, recent indicators suggest a potential shift in sentiment as the ETF nears significant resistance levels, hinting at a looming bearish turn. As of late, SPY has been on a notable uptrend, consistently climbing towards one-year high resistance levels. This trajectory has garnered attention from investors eyeing the possibility of continued gains. Yet, caution flags are waving as the ETF approaches the $500 to $520 range, projected to materialize by March or April of 2024. Market analysts and technicians are closely monitoring this critical juncture, as historical data indicates a propensity for price rejection and subsequent correction around such resistance zones. While past performance is not indicative of future results, the confluence of technical factors underscores the significance of this price range. One factor contributing to the bearish sentiment is the overextension of the current rally. With the market experiencing an extended period of growth, there is growing concern about unsustainable valuations and the potential for a market pullback. Additionally, macroeconomic uncertainties, including inflationary pressures and geopolitical tensions, further amplify the apprehension among investors. Moreover, sentiment indicators such as the fear and greed index are signaling heightened investor optimism, often considered a contrarian indicator suggesting potential market reversals. As greed eclipses fear, complacency may set in, leaving the market vulnerable to downside risks. Investor psychology plays a crucial role in market dynamics, particularly during pivotal moments such as approaching resistance levels. The psychological barrier of reaching a milestone price range can trigger profit-taking among investors, leading to selling pressure and downward price momentum. Institutional investors, who often have the firepower to influence market movements, may also opt to rebalance their portfolios in anticipation of market headwinds. As such, increased selling activity from institutional players could exacerbate the downward pressure on SPY and the broader market indices. While the outlook remains uncertain, prudent investors are advised to exercise caution and closely monitor developments in the coming weeks. Key technical levels and market indicators will offer valuable insights into the potential direction of SPY and the broader market. In conclusion, as the SPY ETF approaches critical resistance levels amidst bearish signals, investors brace for a possible shift in market sentiment. With the $500 to $520 range looming ahead, caution is warranted as historical precedents and technical indicators point to the potential for a corrective phase. Vigilance and adaptability will be essential for navigating the evolving market landscape in the months ahead.
SShort
by UnknownUnicorn2319099
1
SPY leg higher?I think it's worth taking some risk here as the chart looks set up for a leg higher. Using the fib tools I'm targeting $482 - $486 / 1.618 It's already made a 50% retracement nearly to the dollar and tried to for an all time high. I believe SPY price will break that level and make another ATH. Volume is increasing although there is a lot of trading activity in the current range. It may not go straight to $482 but I think $475 will hold as support. If not then $472 will be in the cards and a sell-off could ensue. Past bull markets have gained 200% so it's not unreasonable for SPY to touch $500, especially while we have this momentum. If it doesn't happen now then I think there is less and less of a chance it happens in the first half of the year. I think we'll see $500 or $5000 SPX by February of this year.
AMEX:SPYLong
by DontSlamTheDoor