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Is oil signalling a recession? Oil has really started to free fall. The death cross on the daily chart has occurred. this is where the 50 MA intersects with the 200 MA in a downtrend. This often implies more downside to the medium and long term but is often a great short term long signal. Usually when you get this signal the market makers bounce the stock or commodity a bit before taking it lower. We are hitting a massive multi year trend line going back to 2022 that should act as some support. XLE looks ready for 1 more down leg before a swing tradable low is in. Energy does have a tendency to fall precipitously so understanding oil can keep falling if investors fear the worst or a recession.
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AMEX:XLE
by Trading-Capital
5
SPY Daily Chart Analysis: Trendline Support Holding with LevelsLooking at this SPY daily chart, I’m seeing some promising signs for a potential bullish reversal. Here’s what I’m focusing on: Key Levels: Support at $542: The price recently bounced off a significant support zone around $542, which also aligns with a long-term upward trendline that has held multiple times in the past (marked by the orange circles). This suggests strong buyer interest in this area. Resistance at $564.78: If the bullish momentum continues, the first significant target is around the $564.78 resistance. This has been a major resistance area previously and would be the next hurdle for the bulls. What I Expect: Potential Bounce: Given the bounce off the trendline and support zone, I expect SPY to test the $548 - $550 region next. A successful break above this could lead to a move towards $564.78. Trendline Strength: The upward trendline has held multiple times, as shown by the previous touches, indicating that buyers continue to defend this level. If we stay above this line, the bullish case strengthens. Final Thoughts: The chart is indicating that SPY could be gearing up for a bounce, especially if it holds above the $542 support. I’ll be closely watching how the price reacts around $548 and whether it can break higher toward $564.78. If the trendline continues to hold, we may see a continuation of the broader uptrend.
AMEX:SPYLong
by Deno_Trading
SPY: Critical Double Support Area! (D&W charts analysis)Looking at the daily chart of SPY, we observe a clear retracement from the double top pattern formed at the all-time high (ATH) level around $565.16. The price has now pulled back to test the 38.2% Fibonacci retracement level, currently acting as a support zone at around $543.91. This level will be crucial in determining whether the price will bounce or continue to retrace further towards the 50% and 61.8% Fibonacci levels near $536 and $529, respectively. On the weekly chart, the double top at the all-time high has triggered a downward reaction, and price action is showing a rejection of higher levels. The 21-week EMA, which provided strong support in previous pullbacks, is being tested as the price sits close to this level. This EMA coincides with teh 38.2% retracement on theh daily chart, suggesting a strong double-support area. If the EMA holds, we could see a recovery attempt, but failure to hold the 21-week EMA may open the door for a deeper correction towards the $510.27 support level, if the retracements fail to hold SPY's price on the daily chart. In summary, SPY is in a critical zone with the potential for a bounce from the 38.2% Fibonacci level on the daily chart, while the weekly chart shows a need for support from the 21-week EMA to avoid further downside. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
AMEX:SPY
by Nathan_The_Finance_Hydra
4
XLU approaches top of its trading rangeXLU is showing signs that its recent rally maybe coming to close and start selling off for a period of time XLU is currently one of the top sector ETFs for defensive move Its turn around over the past year shows the rotational shift away from risk to defensive Currently its recent rally is looking to come to an end. Best to wait before making anymore purchases of XLU XLU is running hot right now and is due for a pullback. Best to wait on the sidelines until after its coming sell off before adding to any positions
AMEX:XLU
by ratchet-mint
SQQQ I It will decline from top of the resistance channel Welcome back! Let me know your thoughts in the comments! ** SQQQ Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
NASDAQ:SQQQShort
by BKTradingAcademy
11
SPY/QQQ Plan Your Trade For Sept 10 : Consolidation CarryoverToday will likely be similar to yesterday - but slightly more consolidated overall. I belive the markets are struggling into a dual Excess Phase Peak Flag (Step #2) and the SPY/QQQ show this very clearly. This dual Excess Phase Peak pattern will result in either a breakdown in price (starting after Sept 20th or so) or a continued rally phase breaching the Unique & Ultimate Fibonacci High price levels. Ultimately, I believe the breakdown potential is higher at this point than the continued rally phase. That is why I'm asking traders to prepare for a top near Sept 20-25 and to move assets into CASH as we melt upward over the next 5+ days. If my research is correct, the second Excess Phase Peak pattern will prompt a breakdown in price - resulting in an attempt to find support above recent (60-90 day) lows. And that will reflect a -9-14% drawdown in price. If I'm wrong and we don't see this breakdown in price, then we'll see price struggle to move higher and eventually break the recent ATH levels. Watch this video to learn how the Excess Phase Peak patterns setup. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
NASDAQ:QQQLong
by BradMatheny
The Fall of the S&P 500 is a Trading Opportunity in QQQ The recent correction of the S&P 500 presents itself as a buying opportunity, with no signs of a 2000 dotcom-like bubble and projections to reach 6,000 points by the end of 2024. In this context of volatility, especially in the wake of Nvidia's results and doubts about artificial intelligence, it is recommended to adopt tactical strategies to manage risk. Currently, the Invesco QQQ Trust Series 1 (known as QQQ and also as the “little Nasdaq”) is in a trading range between 485.36 and 450.84 points, with support at 419.89 points and a recent all-time high of 503.52 points. The Pre-Market Checkpoint is at 453.55 points, and the RSI shows a corrective move since August 22, with a current value of 41.77%. These technical levels suggest key areas to execute and adjust positions in a volatile environment, taking advantage of the buying opportunity in the market. An adaptable strategy for trading derivatives, such as futures or CFDs (Contracts for Difference), is the use of simultaneous long and short positions on the same index or underlying asset, similar to the “ strangle ” logic. Unlike with options, this strategy involves opening a long (buy) and a short (sell) position in the same asset to capture sharp market movements. In the case of expected volatility in the QQQ, a trader could hold both positions and adjust their size in each based on market movements, allowing them to take advantage of large fluctuations without relying on a specific market direction. This tactic effectively manages risk while maintaining exposure to significant movements in either direction. Ion Jauregui - ActivTrades Analyst ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
NASDAQ:QQQ
by ActivTrades
$SPY Weekly Options | Bull or Bear? We got both covered!AMEX:SPY We are seeing a clear technical pullback, but nothing trend breaking. 21EMA on the weekly is our guide. We are watching $550 as our pivot this week for our options contracts. For these contracts, we will be using the 15 or 30 minute chart and candle closes for confirmation. $555 Call 9/27 Entry: 30 minute close OVER $550 Targets: $555, $559.58 Stop-loss: 15 or 30 minute close UNDER $550 $545 PUT 9/27 Entry: Break above $550, 30 minute close UNDER Targets: $545, $540 Stop-loss: 15 or 30 minute close OVER $550
AMEX:SPY
by PennyBois
SMH forming a long downward trendSMH failed to make new highs after the last rally and now forming downward trend At the peak of July 10 we have seen a continued decline in SMH overall Latest rally peaked in August 21 coming in much lower than July 10 As SMH gradually sold off it also helped form a strong resistance line painting a long term grim picture We are in late cycle investing at the moment. This is helping solidify that the longer term risk assets have begun SMH is looking like the leader in the tech sell off so far. Recommend preparing your portfolio by rotating out of risk assets over to more defense ETFs
NASDAQ:SMHShort
by ratchet-mint
One More Dump Coming We’ve got an interesting setup here! Price just closed in a 4-hour supply zone, but I’m not jumping in yet. No solid buy signal has popped up, which makes me think we could see another dip. There’s a gap lurking below that still needs filling, and I have a feeling we might head down to take care of that first. What I'm Watching: This week, my eyes are on the 555.6 level. If we stays below this with some good momentum, it could be game on for shorts. Im looking for a BoS tomorrow after open. If we get that, I’ll be ready to pounce on a short setup. Key Levels: 4-Hour Supply Zone: Price showing some hesitation here—could be a signal. Wait for a reversal. GapsBelow: 2 Gaps like to get filled, and I’m thinking this might be next. My Game Plan: Keep an eye on price action below 555.6. Wait for confirmation before diving into a short. Make sure to manage risk. No trade is worth blowing up an account!
AMEX:SPYShort
by Big_Bull21
$SPY September 10, 2024AMEX:SPY September 10, 2024 15 Minutes. As expected, 546-547 done. not to short as it broke, retraced back to top of channel and bounced back from 544.19. So, for the fall 547.72 to 544.19 holding today 545 levels we can see uptrend probably to 550-552 levels being 200 averages. 539 levels formed a base as discussed couple days ago. So, for the rise 539.44 to 546.39 to 542.69 we have 533-554 as 1.6 times extension. For the rise 542.69 to 547.72 we have 544.6 as 61.8% retracement. Hence this number 544-545 is important for today to hold for 550-554 levels.
AMEX:SPYLong
by RiderTrader
15