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SPY Approaching Key Resistance: Will Bulls Keep Control?Technical Analysis & Price Action * Trend Overview: SPY is in a steady uptrend, hitting $607.91 intraday, with a narrowing rising wedge pattern forming. The price is testing resistance, and volume remains consistent, indicating active participation. * Support Levels: * $604.63: Immediate support for pullbacks within the wedge. * $602.32: Key pivot point, aligning with recent consolidation zones. * $597.25: A strong support area, breaching this level could shift sentiment. * Resistance Levels: * $607.91: Immediate resistance; a breakout could drive momentum toward $610+. * $610.50–$612: Major resistance zone for profit-taking or potential rejection. Liquidity Zones & Order Blocks * Liquidity Zone: $604–$606, high activity zone acting as both support and resistance. * Order Block: $607–$609, significant recent buying activity suggests this area needs to be monitored for breakout confirmation. Scalping Playbook 1. Bullish Setup: * Entry: Above $608 on volume spike and breakout confirmation. * Target: $610 (partial) and $612. * Stop Loss: Below $606. 2. Bearish Setup: * Entry: Below $604.50 with high selling pressure. * Target: $602.50 and $600. * Stop Loss: Above $606. Swing Trade Strategy 1. Bullish Swing: * Entry: Close above $608 with strong continuation signals. * Target: $612 (short-term) and $615 (medium-term). * Stop Loss: $605. 2. Bearish Swing: * Entry: Close below $602 with significant volume. * Target: $597 and $595. * Stop Loss: $605. Thoughts & Projections * SPY is showing signs of slowing momentum as MACD histograms weaken, signaling potential consolidation or a pullback. * A breakout above $608 could fuel bullish sentiment, but watch for rejection near $610 due to rising wedge dynamics. * If SPY breaks below $604, bearish sentiment may intensify, targeting $602 and lower. Disclaimer: This analysis is for educational purposes only and not financial advice. Always perform your due diligence and practice proper risk management.
AMEX:SPY
by BullBearInsights
QQQ on the Edge: Breakout or Reversal? Key Levels to WatchTechnical Analysis & Price Action * Trend Overview: QQQ continues its bullish momentum, reaching $523.52 before consolidating near $522. This upward channel is intact, with buyers maintaining control, but caution is warranted as it approaches resistance. * Support Levels: * $517.50: Immediate support aligning with recent pullbacks. * $513.33: Strong support where buyers previously stepped in. * $510.00: Key psychological support, failure here may lead to further downside. * Resistance Levels: * $523.52: Immediate resistance, a breakout above this level could push toward $530. * $527–$530: Major resistance zone to watch for profit-taking or rejection. Liquidity Zones & Order Blocks * Liquidity Zone: $516–$517, high trading volume with significant activity, acting as a pivot zone. * Order Block: $520–$522; a breakout here could signal bullish continuation. Scalping Playbook 1. Bullish Setup: * Entry: Above $523.52 with increasing volume. * Target: $527 (partial) and $530. * Stop Loss: Below $520. 2. Bearish Setup: * Entry: Below $517.50 with a strong breakdown. * Target: $513.33 (partial) and $510. * Stop Loss: Above $520. Swing Trade Strategy 1. Bullish Swing: * Entry: Close above $523.52 with volume and bullish momentum. * Target: $530 (short-term) and $535 (medium-term). * Stop Loss: $520. 2. Bearish Swing: * Entry: Close below $513.33 with strong selling pressure. * Target: $510 and possibly $505. * Stop Loss: $515. Thoughts & Projections * QQQ’s strong uptrend shows no immediate signs of reversal, but volume at resistance needs to be monitored closely. * The MACD histogram indicates slowing momentum, suggesting a potential pullback before the next leg higher. * Focus on intraday volume and watch for rejection near $523 or a breakout confirmation. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always perform your own due diligence and manage risk effectively.
NASDAQ:QQQ
by BullBearInsights
$SPY December 5, 2024AMEX:SPY December 5, 2024 15 Minutes 60 Minutes Gaps not getting filled. Very strong uptrend. Being a moving average and Fib trader i do not have a setup for fresh entry or short. At the moment if any pull back 60o is the number to watch. It is 9 moving averages in day, and 38.2% retracement for the move 587.43 to 607.91. AMEX:SPY not even breaking 21 averages in 60 minutes since the move started from 587.43. HH HL pattern. No way to short. At the moment even if I short at 601 levels the target is only 598. So not much R:R. Need to continue the longs for 608-612 as initial target provided 601 is holding. I have no position.
AMEX:SPY
by RiderTrader
12
Direxion Semiconductor 3x Bull | SOXL | Long at $30.00So many semiconductor companies... which one to choose? Enter AMEX:SOXL - not for the faint of heart. Losses and gains triple compared to most semiconductor ETFs, so stay away if high-risk plays aren't your thing. The top three holdings are NASDAQ:AMD , NASDAQ:AVGO , and NASDAQ:NVDA - two of which are at all-time highs... I wouldn't be shocked if AMEX:SOXL enters the low $20's to test the base of my historical simple moving average area, but I don't think we are done hearing about AI and the semi demand. There are large gaps to fill above and below the current price and we are at the 50/50 stage (i.e. historical simple moving average zone) for a price move up or down. My bet is up, especially with the new presidential administration. If politicians start dumping semis, I'm out. Thus, at $30.00 AMEX:SOXL is in a personal buy zone. Target #1 = $35 Target #2 = $40 Target #3 = $50 Target #4 = $60
AMEX:SOXLLong
by WorthlessViews
1
Darvas Box Strategy - Break out Stock - Swing TradeDisclaimer: I am Not SEBI Registered adviser, please take advise from your financial adviser before investing in any stocks. Idea here shared is for education purpose only. Stock has given break out. Buy above high. Keep this stock in watch list. Buy above the High and do not forget to keep stop loss, best suitable for swing trading. Target and Stop loss Shown on Chart. Risk to Reward Ratio/ Target Ratio 1:2 Stop loss can be Trail when it make new box / Swing. Be Discipline, because discipline is the key to Success in Stock Market. Trade what you See Not what you Think.
NSE:MAFANG
by AnsariTV
Opening (IRA): TQQQ December 20th 74 Covered Call... for a 71.29 debit. Comments: Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. I'm looking at this as a starter position because I kind of have a feeling that I'm going to regret not putting this on in weakness/higher IV and will be adding at better strikes/break evens (only time will tell). Metrics: Buying Power Effect/Break Even: 71.29/share Max Profit: 2.71 ROC at Max: 3.80% 50% Max: 1.36 ROC at 50% Max: 1.90%
NASDAQ:TQQQLong
by NaughtyPines
SPY/QQQ Plan Your Trade For 12-04: Top PatternToday's Top pattern suggests the SPY/QQQ will run into resistance in early trading and roll downward at some point after reaching resistance. I see the markets opening much higher this morning as the SPY/QQQ are both broadly rallying overnight. This type of GAP UP opening often leads to the identification of price resistance and a rollover topping formation where price attempts to trail downward to fill the GAP. The concept that my SPY Cycle Patterns new this was likely many months before today's price action happens is rather unique. And this is why I love my SPY Cycle Patterns. The is no other place where you can attempt to clearly see into the future like using my SPY Cycle Patterns. Gold and Silver are still struggling today - but should attempt to make a rally move higher over the next 5+ trading days. Until we break above the Flag High level, Gold and Silver are trapped in a sideways price range. Bitcoin is also trapped in a sideways price range after reaching recent highs. As I warn in this video - be prepared for very unusual price action and events over the next 30+ days. I believe we are about to see some very unusual political and economic events play out. Keep a healthy CASH reserve and trade small quantities right now. Better to protect cash than to risk it on unknowns right now. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
SPY Analysis: Will the Uptrend Hold or Consolidate? Dec. 4, 20241. Weekly Chart (W1): * Trend: The weekly chart shows a robust uptrend with SPY staying within a well-defined ascending channel. * Key Levels: * Resistance: 605–610 zone, which aligns with the upper channel boundary. * Support: Around 578–580, aligning with the lower channel boundary and 20 EMA. * Indicators: * MACD is strong on the weekly, showing long-term bullish momentum. * Volume is healthy, supporting the uptrend. * Prediction: Long-term trend remains bullish. Tomorrow’s action may contribute to a continuation of the broader uptrend, though a minor intraday pullback wouldn’t disrupt the weekly bullish structure. 2. Daily Chart (D1): * Trend: The daily chart shows SPY is in a steady uptrend, respecting a rising channel with higher highs and higher lows. * Key Levels: * Resistance: Around 605–607, which aligns with the upper trendline of the channel. * Support: At 595 and the 20 EMA, which has been a consistent dynamic support. * Indicators: * MACD shows positive momentum but may be slightly overextended. * Volume suggests moderate buying interest but not overly aggressive. * Prediction: Likely to continue testing resistance. A breakout above 605 could lead to higher moves, while consolidation or minor retracement to 595 is possible. 3. Hourly Chart (H1): * Trend: The hourly chart shows SPY forming tighter price action near resistance, with small-bodied candles indicating indecision. * Key Levels: * Immediate Resistance: 604.50–605. * Immediate Support: 600–601. * Indicators: * MACD on the hourly chart is flattening, signaling potential consolidation or minor pullback before another leg up. * Volume on smaller timeframes has been decreasing slightly, suggesting traders may be waiting for a catalyst. * Prediction: Possible consolidation between 600 and 605 before a decisive move. A break above 605 could align with the broader daily trend. Summary for Tomorrow: Dec. 4, 2024 * SPY is positioned near resistance across multiple timeframes. While the weekly and daily charts suggest the overall trend remains bullish, the hourly chart indicates potential consolidation before another breakout. * Bullish Scenario: If SPY breaks above 605 with volume, it could target the 610 area. * Bearish Scenario: A pullback to 600–601 support is possible before attempting to move higher. * Strategy: * Day traders: Watch for a breakout above 605 or a bounce near 600. * Swing traders: Consider the broader uptrend for potential entries on pullbacks around support levels. This multi-timeframe analysis highlights the importance of aligning your trade entries with the prevailing trend while being cautious around key resistance levels. Disclaimer: This analysis is for informational purposes only and not financial advice. Always do your own research and consult a professional before making any trading decisions.
AMEX:SPY
by BullBearInsights
QQQ Approaches Critical Resistance: Is a Breakout or Reversal?QQQ is trading near significant resistance levels after a strong rally. Here's a comprehensive analysis and trading plan to help traders navigate the current price action. 1️⃣ Price Action & Chart Analysis * Trend Overview: QQQ is in a rising wedge pattern, which often signals potential exhaustion of the current uptrend. * Key Levels: * Resistance: $518.30 (current high), $525.00 (psychological resistance). * Support: $513.30 (recent breakout level), $511.40 (previous strong support). The current price is testing the upper trendline of the wedge, indicating a crucial area for decision-making. 2️⃣ Liquidity Zones & Order Blocks * Liquidity Zone: Watch for price activity between $516.00–$518.30, where sellers could gain strength. * Order Block: Strong demand identified near $511.00–$513.00 from prior accumulation. 3️⃣ Scalping Strategy For intraday opportunities: * Entry (Breakout): Buy above $518.50 if volume confirms the breakout. Target $520.50–$522.00. * Stop-Loss: Below $517.00 to limit losses. * Rejection Play: If $518.30 acts as resistance, consider a short trade targeting $515.00–$513.30. 4️⃣ Swing Trade Strategy For multi-day setups: * Entry Option 1: Go long on a confirmed breakout above $518.30 with increasing volume. * Entry Option 2: Wait for a pullback to $513.00–$515.00 for better risk-reward. * Targets: * Initial Target: $525.00 * Extended Target: $530.00 * Stop-Loss: Below $511.00 for a more conservative approach. 5️⃣ Momentum & Indicators * MACD: Positive momentum persists but shows signs of weakening, hinting at potential consolidation or pullback. * Volume: Slightly decreasing volume may indicate hesitation among buyers. Game Plan for Tomorrow * Scenario 1: A breakout above $518.30 with strong volume could lead to further upside toward $525.00. * Scenario 2: Rejection at $518.30 might result in a pullback to $513.00 or lower. Disclaimer: This analysis is for educational purposes only and not financial advice. Always perform your own research and consider your risk tolerance before trading.
NASDAQ:QQQ
by BullBearInsights