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SPY/QQQ Plan Your Trade For 2-6-25: Counter-Trend RALLY Today's pattern is a counter-trend Rally pattern. I read this as a downward trending type of rally phase/bar. Much like yesterday's rally in the markets. Today should be just the opposite - a downward trending bar. I believe this is a move downward setting up the Deep-V pattern which should hit early next week. I suggest traders prepare for a rollover-topping pattern near this upper resistance area and prepare for the markets to move downward - seeking support. Gold and Silver will likely move downward as well if the market does roll over, as I suspect. Gold and Silver tend to move downward when the markets shift into a downward trend. Bitcoin is trapped within a range (again), and it appears that over the next few days, it will attempt to move downward with the markets. Again, the next four to five days will be a do-or-die type of move. I've been telling all of you this Deep-V breakdown will happen for more than thirty days, so I'm watching to see if it really does happen. Either way, it is now a bad idea to take some profits near these highs in preparation for any potential breakdown. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
$SPY February 6, 2025AMEX:SPY February 6, 2025 15 Minutes. Yesterday we had 604 levels. Today for the rise 598.58 to 604.36 holding 602 levels we can expect 605-606 levels as initial target. Once 606 is held i expect 609-610 levels tomorrow or by Friday. AMEX:SPY is above all moving averages. At the moment uptrend intact as long AMEX:SPY above 598 levels being the last LL. Not for shorting today as per chart at the moment. The top of channel is around 610 levels for the day on time.
AMEX:SPYLong
by RiderTrader
2
Elliott Wave View: Gold Miners ETF (GDX) Impulse Rally ProgressShort Term Elliott Wave View in Gold Miners ETF (GDX) suggests rally from 12.30.2024 low is in progress as an impulse. Up from 12.30.2024 low, wave 1 ended at 38.2 and dips in wave 2 ended at 36.84. Internal subdivision of wave 2 unfolded as a zigzag Elliott Wave structure. Down from wave 1, wave ((a)) ended at 37.31 and wave ((b)) ended at 37.95. Wave ((c)) lower ended at 36.83 which completed wave 2 in higher degree. The ETF has extended higher in wave 3 with subdivision as a 5 waves with extension (a nesting impulse). Up from wave 2, wave ((i)) ended at 38.16 and pullback in wave ((ii)) ended at 36.84. The ETF extended higher in wave (i) towards 39.73 and pullback in wave (ii) ended at 38.14. Up from there, wave i ended at 39.92 and wave ii ended at 39.24. Wave iii higher ended at 41.53 and pullback in wave iv ended at 40.80. Expect the ETF to end wave v of (iii), then it should pullback in wave (iv) before higher again. Near term, pullback should find support in 3, 7, or 11 swing against 36.83 low for further upside.
AMEX:GDX
by Elliottwave-Forecast
2
SPY Technical Analysis and GEX Option Insights: February 6, 2025Technical Analysis: 1. Current Price Action: * SPY is trading near $604.74, showing a breakout attempt. * Immediate resistance is at $609.96 (today's high), while strong support lies near $600.00. * The symmetrical triangle formation suggests a potential continuation, with volume confirming bullish momentum. 2. Indicators: * MACD: Bullish crossover indicates upward momentum, but a flattening signal line warrants caution. * Stochastic RSI: Overbought levels near 99, signaling possible consolidation or pullback. * Volume: Increasing volumes support upward movement but require sustained buying pressure to confirm the breakout. 3. Trend Lines: * Upside potential toward $615.00 (2nd Call Wall) if SPY clears $610.00. * Breakdown below $600.00 could revisit $595.00. Gamma Exposure (GEX) Insights: 1. Key GEX Levels: * Call Resistance: $610.00 and $615.00 are major resistance zones. * Put Support: $600.00 (strong gamma hedge zone) and $595.00 (critical floor). 2. Options Sentiment: * GEX: Dominated by 68.5% puts, signaling hedging at lower levels but potential for squeeze if buyers persist. * IVR/IVx: 15.5% IVR, indicating options are relatively inexpensive, suitable for directional plays. * Skew: High put open interest suggests a bearish skew, but a breakout could trigger a gamma squeeze. Trade Setup Suggestions: 1. Bullish Scenario: * Entry: Above $610.00. * Targets: $615.00, $620.00. * Stop-Loss: $600.00. 2. Bearish Scenario: * Entry: Below $600.00. * Targets: $595.00, $590.00. * Stop-Loss: $610.00. Thoughts: * SPY shows bullish potential but is overextended short-term. * A confirmed breakout above $610.00 could lead to a gamma squeeze toward $615.00+. * Failure to sustain above $600.00 may invite sellers to retest lower supports. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your research and risk management before making trading decisions.
AMEX:SPY
by BullBearInsights
2
QQQ Approaches Critical Resistance Levels! Key Moves to Watch Technical Analysis: * Current Price Action: QQQ has displayed a steady bullish trend, breaking into higher highs and nearing the key resistance of $531.52, with intermediate resistance around $530. * Trendlines: A strong ascending channel is observed, aligning with positive momentum. A breakout above $531.52 could open the door to further bullish momentum towards $535 and $540. * Volume: Rising volume indicates buyer confidence, supporting the recent uptrend. Gamma Exposure (GEX) Insights: * Highest Positive GEX (Call Resistance): $536 represents the strongest call resistance. A break here could lead to a gamma squeeze, amplifying upside momentum. * Key Support (Highest Negative GEX): $510 is the critical support level, marked by heavy put interest. A break below would indicate a potential shift in sentiment. * Options Metrics: Implied Volatility (IVR): 18.3%, suggesting moderate volatility. Put interest is at 30.1%, reflecting a balanced sentiment. Key Levels to Watch: * Immediate Resistance: $530, followed by $531.52. * Support Levels: $523 (near-term support), $515 (second support). * Bullish Targets: $535 (second call wall), $540 (third call wall). * Bearish Targets: Break below $510 could lead to $500. Trade Suggestions: * Bullish Scenario: * Entry: Above $531.52. * Target: $535-$540. * Stop-Loss: Below $530. * Bearish Scenario: * Entry: Below $523. * Target: $515-$510. * Stop-Loss: Above $525. Conclusion: QQQ is testing key resistance levels, and a breakout above $531.52 could signal strong bullish momentum. Monitor options flow and volume for confirmation. Stay cautious near critical support at $510, as a breakdown could alter the trend. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
NASDAQ:QQQ
by BullBearInsights
IWM at a Critical Level: Will the Momentum Continue?Technical Analysis (TA): 1. Current Price Action: * IWM is trading near $229.91 after a strong upward move, with a daily high of $230.36. * The price is approaching a key resistance zone around $230, aligning with a psychological round number level. 2. Trend Analysis: * The price has been in a clear uptrend since bouncing from the $220.64 support level. * Higher highs and higher lows indicate continued bullish momentum. 3. Indicator Insights: * MACD: Positive histogram values suggest bullish momentum, though the lines are starting to converge. * Stoch RSI: Overbought at 97.57, signaling caution as a pullback could be imminent. 4. Volume: * Increasing volume supports the recent upward move, validating the strength of the breakout. Key Levels to Watch: * Resistance: * $230.36: Current high, immediate resistance. * $235: Strong resistance, aligned with GEX Call Wall. * Support: * $226: Nearest support, significant from previous consolidation. * $220.64: Critical support, aligned with highest negative NETGEX. GEX Analysis: 1. Gamma Exposure (GEX): * Call Wall: Positioned at $235, indicating a strong resistance level where market makers may hedge. * Put Wall: Positioned at $220, acting as key support. 2. IVR and Options Sentiment: * IVR: 15.5, indicating relatively low implied volatility. * Put/Call Ratio: 14.2% puts, showcasing a predominantly bullish sentiment. Trade Scenarios: 1. Bullish: * If IWM breaks above $230.36 with strong volume, it could target $235. * Entry: Above $230.50. * Target: $235. * Stop-Loss: $228.50. 2. Bearish: * If IWM faces rejection at $230, it could retest $226 or lower. * Entry: Below $228.50. * Target: $226. * Stop-Loss: $231. Actionable Suggestion: * Watch for price action confirmation at $230. Momentum traders could look for breakouts, while mean reversion traders might wait for pullbacks. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your own due diligence and manage your risk carefully.
AMEX:IWM
by BullBearInsights
DIA at a Critical Resistance! Key Trade Setups for This WeekTechnical Analysis Overview: DIA (SPDR Dow Jones Industrial Average ETF) is approaching a significant resistance zone at $450.56, which aligns with the highest positive Gamma Exposure (GEX). The upward channel suggests a bullish continuation, but the proximity to resistance warrants caution. * Current Price: $449.20 (as of the last chart). * Resistance Levels: * Immediate resistance at $450.56 (Gamma Wall). * Secondary resistance at $460.00 (Call Wall). * Support Levels: * Minor support at $446.00. * Stronger support at $445.00 (Highest negative GEX). * Key support at $438.63 (recent swing low). Indicators: * MACD: Bullish momentum, but a potential crossover could indicate weakening. * Stochastic RSI: Overbought at 95.96, signaling a pullback is possible. Gamma Exposure (GEX) Analysis: * Positive GEX at $450.56: Suggests resistance as market makers may hedge short gamma. * Negative GEX at $445.00: Acts as a support zone, as put-heavy levels often attract reversals. * IVR: 10.3 (low), indicating relatively low implied volatility and less expensive options. * Call/Put Ratio: 27.9% Puts dominate, suggesting bearish sentiment among options traders. Trade Setups: * Bullish Scenario: * Entry: Break above $450.56 with strong volume. * Target: $460.00. * Stop-Loss: Below $446.00. * Bearish Scenario: * Entry: Rejection at $450.56. * Target: $445.00 and $438.63. * Stop-Loss: Above $451.00. Suggestions: * Scalpers: Monitor price action near $450.56. A breakout with increased volume offers a quick upward trade. * Swing Traders: Wait for confirmation—either a breakout above $450.56 or a pullback to $445.00 for entry. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk effectively before trading.
AMEX:DIA
by BullBearInsights
GLD Gaining Momentum – Key Technicals & Options Insights Technical Analysis (GLD): * Trend Overview: GLD has been following an ascending channel, with price action respecting the upper and lower bounds. * Support Levels: Immediate support lies at $262.50, followed by stronger support at $257.87. * Resistance Levels: The price is currently testing $265.99, the upper resistance of the channel. A breakout above this level could push GLD toward the next target at $270.00. * Indicators: * MACD: Shows a slight bullish momentum, though slowing down. * Stochastic RSI: Overbought at 98.14, suggesting potential consolidation or retracement. Options GEX Analysis: * Gamma Exposure (GEX): The highest positive gamma sits at $270, marking a strong resistance zone. * Key Put Walls: Located at $243 and $240, providing robust support in case of downside. * Call Wall Resistance: Options traders are showing interest at $270, likely acting as a significant cap unless the price breaks out with strong volume. * IV Data: * IVR: 69.3 – Elevated, signaling relatively higher premiums. * IVx avg: 17.8 – Indicating the overall sentiment aligns with slightly cautious optimism. Suggestions: * Bullish Scenario: A breakout above $265.99 with volume confirmation could see the price rally to $270.00. Consider call options with stops near $264.50 to manage risk. * Bearish Scenario: If resistance at $265.99 holds, a retracement to $262.50 or $257.87 is possible. Protective puts or short positions could be considered, with tight stops above $266.00. * Neutral Play: Selling options (iron condors or spreads) between $243–$270 can benefit from the current IV levels and defined range. Conclusion: GLD is at a critical juncture. While the overall momentum leans bullish within the channel, caution is warranted due to overbought conditions and resistance at $265.99. Monitor for volume and price action near these levels for clearer trade entries. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your due diligence and consult a financial professional before trading. 📊✨
AMEX:GLD
by BullBearInsights
Ethereum $ETHA ETF Daily Chart Fibonacci SupportEthereum NASDAQ:ETHA ETF Daily Chart Fibonacci Support 🚨 **Ethereum CRYPTOCAP:ETH ETF Daily Chart Update** 🚨 📊 **Fibonacci Support at 0.786 Holding Strong!** Ethereum’s ETF chart is showing resilience at the **0.786 Fib retracement level**, a key support zone. If this level holds, we could see a bullish reversal soon! 📈🔥 🔹 **Key Levels to Watch:** ✅ 0.786 Fib Support: Strong bounce potential 🚀 Possible breakout targets: Next resistance levels ahead ⚠️ Breakdown? Keep an eye on volume & market sentiment Are you bullish or bearish on CRYPTOCAP:ETH ? Drop your thoughts below! 👇📢 #Ethereum #ETHETF #CryptoTrading #Fibonacci #CryptoAnalysis
NASDAQ:ETHALong
by AlgoTradeAlert
SPY/QQQ Plan Your Trade : Where's The Deep-V Bottom?I created this video to help illustrate what I believe are nearly perfect setups of multiple Excess Phase Peak Patterns over the past 30+ days in the SPY and QQQ. It is incredible how these patterns continue to form/setup in a broadening sideways price channel. If we didn't know to look for these patterns, we could easily mistake this volatility as some type of longer-term buying opportunity. Remember, if my research is correct, we are going to see an almost immediate reversal of the trend over the next 48 hours - leading to a Deep-V set up in the early few days of next week. I've been wrong before, but I really do believe this Deep-V downward trend is about to happen. I believe some news event over the weekend could send the markets into a minor panic-type selloff. Additionally, I believe the disruptions related to what is happening in DC and other areas may be enough to send the markets searching for support. Recent earnings have not been fantastic, and we are moving into a relatively complacent Q1:2025. So, I still believe we are moving into a broadening "megaphone" price range on the SPY and QQQ. One thing is certain right now: In about 4 to 7 days, we'll know whether my Deep-V base/bottom pattern call (from more than 30 days ago) was accurate. Buckle up, folks. This is when things get really interesting. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
NASDAQ:QQQShort
by BradMatheny
SOXL Has Room to Run?This one has a double bottom look, with a higher low, and another 4% remaining to hit take profit enroute to retesting the neckline before breaking out (another 8% from here) or balance and fail! Stop loss of 5% is pretty steep, so typically I either lower my position size or stop loss. Even at 4% stop loss, according to backtest results this wins more than it loses and has done pretty decent in the past, as I have been forward testing this model for over the past 18 months and profiting from over 100 different equities that I signal on. The King Trading Momentum Strategy combines the 5 EMA crossing above the 13 EMA, RSI strength, favorable momentum as measured by ADX plus evaluating recent volume changes! SOXL and over 100 equities are built into this script with optimal backtest take profits and stop losses and can be toggled on by simply checking a box (default they are turned off). Check out my script, as I am always looking for people to help test and I am always interested in feedback...
AMEX:SOXLLong
by KingTrading999
SPY/QQQ Plan Your Trade 2-5-25 Update : Rally PatternRight now, the markets continue to struggle to move higher. We are seeing a solid upward price trend, but I'm watching the MNQ and metals for any signs of weakness. At this stage of the market's price action, I'm cautiously waiting for the ROLLOVER to setup. My patterns suggest we move into a Counter-Trend Rally phase tomorrow (which would be a downward trending bar). I believe the end of the trading day may see a very solid Long-Squeeze (trending downward) today. And, as of right now - I'm just sitting on my trades, waiting for the Rollover to happen. I would not suggest taking any big long trades right now unless you are prepared for the risks. Sometimes, this is what trading is all about. Looks like things are going to get very exciting over the next 3-5+ days. GET SOME. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
5
Opening (IRA): TNA March 21st 39 Covered Call... for a 37.05 debit. Comments: Adding to my TNA position at a slightly better break even than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 37.05/share Max Profit: 1.95 ROC at Max: 5.26% 50% Max: .98 ROC at 50% Max: 2.63% Will generally look to take profit at 50% max, add at intervals, assuming I can get in at strikes better than what I currently have on, and/or roll out the short call if my take profit is not hit.
AMEX:TNALong
by NaughtyPines
Opening (IRA): XBI March 21st 86 Covered Call... for an 84.20 debit. Comments: Adding to my position at strikes better than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 84.20 Max Profit: 1.80 ROC at Max: 2.14% 50% Max: .90 ROC at 50% Max: 1.07% Will generally look to take profit at 50% max, add at intervals, assuming I can get in at strikes better than what I currently have on, and/or roll out the short call if my take profit isn't hit.
AMEX:XBILong
by NaughtyPines
SLV LONGThe SLV ETF has recently experienced a significant Change of Character (CHoCH), which is backed by strong volume. This type of move indicates that the price structure has shifted from bearish to bullish, with buyers stepping in as price action shows signs of strength. What stands out is the 37K volume traded, and $2.6 million in premiums tied to options contracts, with the majority occurring at the ask. This suggests strong demand and a bullish outlook from traders. With the uncertainty in the broader market, SLV has become an attractive safe-haven investment vehicle, likely reflecting increased interest in silver as a store of value. Given this recent momentum, it’s looking like SLV could be targeting $31.60 in the near term, and possibly even $36 over the next few weeks to months as it continues to trend higher. The combination of market uncertainty and bullish technical signals points to further upside potential.
AMEX:SLVLong
by SPYDERMARKET
Update: TLT March 21st 95 Covered CallsA "refresh" of a fairly long-running cash flow setup, with the cash flow emanating from (a) short call premium and (b) dividends. As of the 12/18/24 dividend, my break even is at 85.81 (including dividends). (See Post Below). One of my New Year's resolutions is to be a little more patient and roll out the short call on approaching worthless, targeting the short call strike paying around 1% of the strike price in credit, but my mouse hand occasionally seems to have a mind of its own ... .
NASDAQ:TLTLong
by NaughtyPines
2
Opening (IRA): TMF March 21st 36 Covered Call... for a 34.85 debit. Comments: Starter position. Selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 34.85 Max Profit: 1.15 ROC at Max: 3.30% 50% Max: .58 ROC at 50% Max: 1.65% Will generally look to take profit at 50% max, add at intervals, assuming I can get in at strikes/break evens better than what I currently have on, and/or roll out the short call if my take profit is not hit.
AMEX:TMFLong
by NaughtyPines