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SPY trade ideas

SPY Short to 520If you can plot and follow SPY, you can understand what the rest of the market may do. SPY has been overextended for quite some time, based on its trendline from the Covid lows of 2020. Please also note the bearish divergence on the MOMENTUM of SPY which is indicative of further downside. 1D/1W displaying bearish divergence on the momentum While the growth has been good for quite some time, we are expecting a pullback and want all to be prepared. I'm interested in the potential value areas for SPY at targets of 520 and 530 and as such a short to 520 looks like a good R:R with 2.65 to 1, basing the SL on the prior 1W open Happy Trading!
AMEX:SPYShort
by miyagi-trading
SPY - we going sideways? Yearly chartSPY quickly approaching the 50-day MA on a yearly chart. Does it bounce off the 50 and continue higher? Doubt it but earnings season and election volatility is right around the corner, so anything can happen. What SPY has not done in a while is trade sideways and my guess is that is what it does for the next few months. If it continues downward, next support is $520. After that it's the 200-day MA. I can see a bad earnings season taking us there. Things I'm watching: -SPY hasn't touched 50-day since April -depending on your definition of sideways, SPY has not traded sideways since July 2023 -hasn't touched 200-day since November 2023 and still a quite a ways away from it.
AMEX:SPY
by DrConservative
SPY/QQQ Plan Your Trade - SPY Seeking Support for Base/BottomHere is a quick video highlighting the News Event-driven price action today. My SPY Cycle Patterns don't predict or operate off news cycles. They are based mostly on Fibonacci/Gann research/cycles. Today's price action is a great example of when patterns fail to predict price trends accurately. But one has to understand that today's price movement is like throwing a huge rock into a tiny pond—it makes big waves. That is how traders are interpreting the TSLA news today. Even though the previous quarters were slightly worse than Q2:2024, traders anticipated any negative news that would push the markets downward (it appears). My analysis has not changed. I'm looking at the price and thinking, "Boy, this is going to be an incredible bullish reversion setup for skilled traders." In order words, when the selling pressure stalls/stops, prepare for a big rally above $556-557 on the SPY as a reversion move. Earnings are sometimes challenging to trade through. Big news can throw some big price swings as data hits. Buckle up. It will be interesting to see how the price reacts through this week's and next week's end. Based on my SPY Cycle Patterns, I'm still preparing for a bullish rally phase. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
07/24 SPY ATR Levels and RangeSPY ATR 4.81 this has maintained this area and average for the last week. Fear and Greed indicator is at 54, a little higher than the neutral that we ended the week on last week. Still a lot of uncertainty in the world, foreign administration speaking today. 9:45 we got a couple market moving reports, Positive Impact (PMI > 50): Negative Impact (PMI < 50) for the past few months weve been over the 50s. We need to hold the 548 level for sure for a bounce of any kind. If we can't hold that, then we move to 547.90/546.90 area as low as 545.15 zone If we can defend 548 area than we move back through the 548 area with a lot of sideways action in that range zone and wrestle with the mid 550/551/20 area. nothing is set in stone, and anything can happen. These are just using previous areas we have visited in the past since we are well below all-time highs.
AMEX:SPY
by TuskenDayTrade
SPY/QQQ Plan Your Trade For 7-24 - Harami~Temp BottomGood morning all, Boy, my friendly group of traders was reviewing the TSLA and GOOG data last night for any signs of weakness or strength. The earnings data did not settle well with traders, and the markets were a bit lower this morning. But, simultaneously, I'm trying to tell my followers to let the dust settle after yesterday's data. I was taught "it is a market of stocks - not a stock market". Don't think of it as a single unit - it is multiple (thousands) of stocks competing for your investment dollar. And, as I'm still reading the data, I believe the US stock market is healthy and efficient in terms of earning power and future expectations. Because of my expectations, I'm urging my followers to consider something somewhat unique. Today's SPY Cycle Patterns should be a Harami pattern, but tomorrow's is a Temp-Bottom. I suspect the Temp-Bottom pattern may blend in with the Harami pattern today - setting up a very clean type of double-bottom or price base for the SPY/QQQ. My data suggests we are moving into a reflation/recovery phase (higher), but the news/data (earnings) has shifted price action to the downside. The base/bottom is playing out today and tomorrow as the price attempts to find/bounce off support. We'll see how today plays out. Please pay attention to my warning related to today's downward price trends. There is a lower gap that could get filled on a deeper downward price trend - but I'm looking for new or recent lows to set up a Base/bottom today. Then, I expect solid reflation/upward price trending over the next 5~10+ trading days.
AMEX:SPYLong
by BradMatheny
6
SPY/QQQ Plan Your Trade 7-23 EOD Wrap-up - Tomorrow's HaramiToday's Flat-Down pattern could not have played out any better. My SPY Cycle Patterns predicted today would reflect a moderately flat trading range that drifted downward - sure enough, that's precisely what we saw today on the SPY. Now, we move into tomorrow's Harami pattern. Although we may see a broad price high or low (price volatility), we are nearing the APEX of a moderate price FLAG pattern. Price can become very volatile near these areas as price attempt to break away from a tighter price channel. I expect the open-close range to stay very narrow tomorrow. The high/low range may be bigger than today's total candle range, but ultimately, I think tomorrow's open-close range will be very tight and narrow, possibly setting up a Doji-type candle. In the broader sense of the SPY Cycle Pattern trends, we are moving into a basing/bottoming setup that should resolve to the upside on Thursday/Friday. So be aware that the recent lows may be a great opportunity to setup for the Thursday/Friday base/bottom SPY patterns. I know many of you are relying on these patterns, and I started this to prove that my technology works and can provide greater insight for traders. Now, I have to decide whether to continue doing this or take a break. I have enjoyed teaching my techniques and systems to everyone, and I love the comments. However, I also want to protect my technology and resources. So, I would love to hear from you guys. Do you want more of this? Do you want me to continue this for another few weeks? Let me know what you guys think. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
SPY: A Dangerous Turning Point (D&W charts).The SPY chart exhibits some key technical aspects worth noting. On the daily chart, the price action has recently tested the double support area around the 21-day EMA and the 550 level. This confluence of support has provided a temporary floor, allowing the price to bounce back. However, if SPY misses this key support level in the future, it'll officially trigger a bearish reversal to its next support levels, like the 542, or even lower. On the weekly chart, the bearish engulfing pattern stands out. This pattern, occurring after reaching an all-time high, indicates a potential reversal or a strong corrective phase - if triggered. SPY's price would need to lose last week's low to trigger this pattern, which is very close to the 550 support seen on the daily chart. Therefore, this is a critical support area on multiplie time frames. The price action following this pattern suggests a weakening of the bullish momentum that previously drove the SPY to new highs. The 21-week EMA will be crucial as it has historically served as a dynamic support level throughout the upward trend, and it'll be a technical target if SPY reverses the bullish sentiment. The interplay between these support levels and the reaction to the bearish engulfing pattern will be critical in determining the next phase for the SPY. The trend is still bullish, but we are trading around a dangerous area, which could act as a major turning point for SPY. For now, let's closely monitor the price action around these levels, especially the behavior near the 550 support and the 529.08 EMA, for further clues on the ETF's direction. 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
SPY/QQQ Plan Your Trade - MENT Pressure System: Building SuccessHave you seen my Plan Your Trade videos yet? Maybe you should take a break and watch a few of them. Part of my effort to help traders involves building a new Pressure System - designed to deploy some of my favorite Fibonacci price constructs and the latest tools. One of the new tools I've been working on is the MENT Pressure System. I would like to make it adaptive (self-adapting to price trends/rotation), but that may take another 10+ days of work. I just completed an update in which the Pressure system is applied to Bollinger Bands to help traders develop trigger confirmation and find better trade triggers. My belief is that using my SPY Cycle Patterns along with something like this new Pressure System should provide a clear advantage for day traders and swing traders. When I suggest the SPY Cycle Patterns are Basing/Bottoming (like I've been suggesting since late Thursday (7-18) and into Friday (7-19), traders need to understand I'm hinting that price is transitioning into a basing/bottoming phase - looking to shift back into a bullish price structure. Ultimately, I would love it if traders could use my SPY Cycle Patterns and my MENT Pressure System to pick the best trades (staying away from count-trend trades and learning to trade what I call "the Sweet Spot." I welcome any feedback you may have after watching this video. It is a lot of fun to receive your comments and suggestions. Together, I hope to build as many followers as possible and help as many traders as possible. Let's GET SOME. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
SPY/QQQ Plan Your Trade - 7-23 - Price Consolidates Before RallyGood morning, This is the Plan Your Trade video for July 23, 2024. Please watch this video to learn why you may want to consider the next 36+ hours as a STAY AWAY type of trading range. The SPY Cycle Patterns suggest the price will consolidate today (23) and tomorrow (24) before attempting to move into a solid Rally phase on the 25. I believe the next 36 hours should only be played by skilled day traders. When the price stays choppy and in a very tight range, there is minimal opportunity to catch moderate swing trades. Remember, any price move below 554 on the SPY chart will likely be rejected higher - setting up multiple base/bottom levels over the next 36 to 48 hours. Those moves below 554 may become solid entry levels for my expected Bullish rally phase on the 25th and beyond. This is one of those lessons where the patterns show very tight price ranges over the next two days. That reflects a minimal opportunity for day traders. But remember, we are basing/bottoming ahead of the 25th+ rally phase. So, this still presents an excellent opportunity to plan/prepare/execute a broader trading plan.
AMEX:SPYLong
by BradMatheny
$SPY July 23, 2024AMEX:SPY July 23, 2024 15 Minutes. The gap up helped AMEX:SPY to achieve 554-555 easily. At the moment gap not filled in 15 minutes. So, this move is good. If we draw extension from 547.9 to 554.46 to 551.03. we have first target as 557 to 561 levels. So, consider the last rise from 551.03 to 555.27 AMEX:SPY need to hold 552 levels to continue the uptrend. As written many times. Daily is still up. No change. To get trades I do 15 minutes. For the fall 565.16 to 547.9 we have 61.8% retracement as 558 levels. So, this also supports 556 557 as initial target. The oscillator divergence played out well during the fall. At the moment i am long from 552 levels.
AMEX:SPYLong
by RiderTrader
SPY/QQQ Plan Your Trade For 7-22 - Making Your Own DecisionsMorning again, This morning, I received many questions from subscribers and other members asking, "What should I do?" Should I buy, wait, or what? I won't tell you guys what to do every 10 minutes. I deliver this research, the SPY Cycle Patterns, and other content to help you make better trading decisions. I put together this video to better explain my expectations about the morning rally and subsequent pullback. This is very important because my job is not to tell you when to trade and what to do. My job is to teach you the skills to make your own decisions. Honestly, if you don't know what you want to do regarding trades, don't take any trades at all. Wait it out a bit. I know all of you want to know what's going on in my head, but it is illegal and unethical for me to tell you what you should do regarding trading. I deliver the most precise content I can - ensuring you see and understand what I believe is likely to happen. From there - you make all the decisions. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
4
S&P 500 ETF (SPY) Pulls Back Within Bullish ChannelThis image shows a price chart for the SPDR S&P 500 ETF Trust (ticker: SPY), which tracks the S&P 500 index. Here's an analysis of the chart: 1. Trend: The overall trend is bullish, with the price moving upwards within an ascending channel marked by green dotted lines. 2. Recent price action: There's been a pullback in the most recent candles, with a significant red candle indicating a drop in price. The current price is around $550.43, down 4.28 points (-0.77%) from the previous close. 3. Support and resistance: The lower boundary of the channel may act as support if the price continues to fall. The upper boundary could serve as resistance for future upward movements. 4. Volume: The volume bars at the bottom show varying levels of trading activity. There's a notable spike in volume coinciding with the recent price drop, suggesting increased selling pressure. 5. Market sentiment: The recent pullback might indicate some short-term bearish sentiment or profit-taking after a sustained uptrend. 6. Key levels: The psychological level of $550 seems to be important, as the price is currently hovering around this area. In conclusion, while the SPY has been in a strong uptrend, the recent pullback suggests some caution. Traders and investors might be watching to see if the price finds support at the lower channel boundary or if this could be the start of a larger correction.
AMEX:SPY
by Moshkelgosha
07/22 SPY ATR Levels and RangeThe ATR of the SPY continue to get larger, again this could and very well is a cause of the downside action, it still calculates into the ATR regardless. We got a clustering of price action below where we currently are something I am looking at for a bounce range. Bulls wanna protect 549.60 level Bears want to fall through 549 and drag this down to 547.80 Bulls want to hold this 549.6 to 550/80 area and push up through 554.08 reclaim 556 Lots of geopolitical news out this weekend and as usual the market is in FUD mode. And the CNN GnF meter is showing NEUTRAL!!! Good luck
AMEX:SPY
by TuskenDayTrade