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SPY Technical Analysis – October 17, 2024Current Price Overview: Recent High: 586.30 Major Support Level: 581.50 Previous Low: 578.96 Key Observations: Trendlines & Price Action: The price has retraced sharply after an earlier rally to 586.30, indicating a pullback phase. It is now sitting near the 583.57 level, testing a short-term upward trendline as support. If the support at 581.50 holds, the price may consolidate before another push upwards. However, if it breaks down, a retest of 580.49 or even the 578.96 low is possible. Volume Analysis: There is a spike in selling volume during the recent pullback, suggesting short-term profit-taking or a shift in sentiment. Monitor if buying volume increases on a bounce from 581.50, as that will indicate buyers stepping in to defend support. MACD Indicator: The MACD lines are crossing upwards from a recent bearish dip, showing early signs of momentum shifting back to the upside. A clean break above zero on the MACD histogram would confirm bullish momentum for the day. Scenario Analysis for End of Day: Bullish Case: If SPY holds above the 581.50 support and reclaims 585.28, a late-day rally toward 586.30 or even higher is possible. A close above 585 would signal that buyers are regaining control. Bearish Case: If 581.50 fails, expect a deeper pullback toward 580.49 or 578.96. A close below 581 would reflect continued selling pressure and bearish sentiment into tomorrow’s session. Trading Strategy: Long Setup: Enter long if the price holds 581.50 and reclaims 585.28 with volume, targeting 586.30. Use 581.00 as a stop-loss for risk management. Short Setup: Consider shorting if SPY breaks 581.50, with a target near 580.49 or 578.96. Use 583.50 as a stop to protect the trade. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always perform your own research and consult with a professional before making any trading decisions. Trading involves risks, and you may lose more than your initial investment.
AMEX:SPY
by BullBearInsights
SPY/QQQ Plan Your Trade For 10-17 : CarryOver In CarryOver ModeGood morning, Great to see the ES/NQ rallying higher this morning - in perfect alignment with my SPY Cycle Patterns & predictions. Gold & Silver are also moving slightly higher - but remember My Gold patterns suggest Gold & Silver will consolidate a bit in early trading today. BTCUSD is a really interesting chart, in my opinion. The multiple Excess Phase Peak patterns are playing into a potentially very large downward price move. Pay attention to all of the content in this video today because we are moving into the end of this week - which means we need to prepare for the volatility that starts next week. As I keep suggesting to everyone, trading is about attempting to time the best opportunities for success. Knowing when something may happen that creates an opportunity, setting your risk levels, and going for it. I wish I could tell you, "Trading is like picking red or black". It's not. Trader's have to develop almost a 6th sense to be able to see and visualize what is most likely to happen in the future. My tools help me see into the future a bit, but a lot of my analysis comes from within my head. Anyway, the best way for you to learn these skills is from someone who can mentor you and show you what they are seeing on the chart. Teaching you the skills to improve your own abilities to make better decisions. That is what I'm doing. Over time, you will learn to use these techniques to make better decisions and become a better trader (at least that is my objective). Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
5
$SPY Analysis, Key Levels & Targets for 10.17.24 AMEX:SPY Analysis, Key Levels & Targets for 10.17.24 - Tomorrow’s Implied move is between 578 and 586 and that is from options. The 30 day average volatility is between 577 and 588 and that also lines up with the implied move on Fridays contract - and that’s the strike I’ll be looking to if we pop to sell bear call spreads. -To the upside we have ATH’s at 585.27. I’m guessing that if NYSE:TSM earnings come in great and we see a move up there then ATH’s will be the Target on the day. But if not, then the 35EMA is just underneath us so look to that for clues. If we break it then support is where we saw the gap that we opened the week with (579) and then underneath that the bottom of the implied move is at 578 -577 on Fridays contract and that’s the strike I’m going to look to if we drop ( for bull put spreads) -Underneath all of that is the 30min 200MA and we are quite far away from that. It’s not in tomorrow’s trading range but could be a target next week if we see a down move from tomorrow’s earnings. GL tomorrow.
AMEX:SPY
by SPYder_QQQueen_Trading
SPY for today 10/16/24Key Observations: Price Levels: Current Price: SPY is trading around $579.32. Resistance Levels: There is resistance around $580.16 and above at $584.63, and the volume profile thins out as we approach $585.27, indicating potential price exhaustion or lack of interest above that zone. Support Levels: Major support is indicated around $575 and lower, at $570.11. Below $575, the volume profile shows stronger activity, making this a key level to watch. Volume: Volume has been increasing on recent pullbacks, which suggests that sellers are stepping in at higher levels. However, the spike in volume at lower levels could also indicate accumulation. Moving Averages: The short-term moving averages (likely 9 EMA and 21 EMA) have turned downward, indicating a bearish sentiment for the morning. The price is currently below these moving averages, showing a short-term downtrend. MACD: The MACD histogram is negative, with the lines still crossing below the zero line, indicating bearish momentum. However, the histogram shows slight narrowing, which could mean that selling pressure is weakening. Volume Profile (Visible Range): The volume profile shows a large node around $575, indicating strong buying and selling interest at that level. This could act as support if SPY moves lower. There’s a thin volume area between $580 and $585, meaning price could see sharp movements in either direction depending on order flow in this range. End-of-Day Outlook: Bullish Scenario: If SPY can hold above the $579.30 - $580.00 zone and reclaim the $584.63 resistance, it could attempt to move back toward $585.27. A move above that level could lead to a retest of the recent highs, but there would need to be strong buying momentum to push through the thin volume zones. Bearish Scenario: If SPY breaks below $579, there’s a good chance it will retest the $575.00 level. A breakdown below $575 could send the price down to $570.11, where stronger support is expected based on the volume profile. Watch for rejection at the $580 - $581 level, as this could indicate continued downside momentum. Conclusion: The price action and indicators suggest a slightly bearish bias at the moment, with potential for a bounce if SPY can hold support at $579 - $580. Keep an eye on the $575 level as it could act as a magnet if sellers continue to push. A recovery above $580 would likely target the $584 - $585 zone, where resistance is stronger. Disclaimer: The information provided is for educational and informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a professional before making any trading decisions. Trading involves risk, and past performance is not indicative of future results.
AMEX:SPY
by BullBearInsights
SPY/QQQ Plan Your Trade For 10-16: BreakAway PatternToday's video highlights what I believe may be a shift in market trend - which can happen. My SPY Cycle Pattern highlight expected price activity/range based on a number of factors: Fibonacci price theory, Gann analysis, Tesla Price Amplitude theory, and more. Yet, the one thing my SPY Cycle Pattern do not take into consideration is TIME. Price shifting slightly forward or backward: where price exhibits an activity/range one day before or one day after the Pattern Date has happened before. I've seen big CRUSH patterns happen +/- one day. I've seen topping/bottoming patterns happen +/- one day. Possibly, we just experienced the sideways contraction I was expecting for Wednesday of this week happen on Tuesday of this week. This type of "time shift" if not out of the question in terms of how price reacts to external news/data. What this means is we may be in for a moderate upside melt-up type of rally in the SPY/QQQ over the next 3+ trading days. Gold & Silver are moving clearly into the Phase #4 of an inverted Excess Phase Peak pattern. If my analysis is correct, Gold and Silver will rally to a new "Ultimate High" throughout this process. Bitcoin may have already reached the Ultimate High after yesterday's breakout rally phase. We need to watch the $68k level to see if price fails to rally above that level. The next two weeks of trading should be very interesting for all of us - moving into an election and watching the global markets attempt to adjust for opportunities/risks. Remember, ultimately, all of your decision-making should focus on three things: _ Preserving Capital _ Identifying Opportunities _ Containing Risks No matter what happens over the next three+ weeks, there will be time for more trading after the elections and in 2025 and beyond. Trading is a long game - where the #1 priority is to preserve capital while trying to find the best opportunities for profits. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
4
$SPY October 16, 2024AMEX:SPY October 16, 2024 AMEX:SPY retraced to 578.5 levels. Moving averages gaps are reduced. Downtrend as it is below all moving averages except 200 averages. For the rise 566.63 to 585.27 38.2 retracement done. For the last rise from 574.49 to 585.27 61.8% I done. Hence it is crucial for 4SPY to hold 576-577 levels today being 200 averages in 15 minutes and fib numbers. So, for the day for the fall 587.27 to 578.54 i will short at 583 levels for targets up to 576-577 levels. SL 584 with bar close near top of bar. The number 576-577 also happens to be 9-day average in daily. so i expect some more retracement.
AMEX:SPYShort
by RiderTrader
SPY/QQQ Plan Your Trade For 10-15 : Gap Breakaway PatternToday's pattern suggests the SPY/QQQ will move into a Gap Breakaway type of price trend. I believe this means price will attempt to Gap higher at the open and attempt to move into a moderate rally phase throughout the day. Remember, we are just starting to move into Q3 earnings data, which will last well into mid-November. On top of that, we have the US elections and other data (external) that may drive market trends. Near the beginning of this video, I show you some of my ADL (Adaptive Dynamic Learning AI) predictive modeling system outcomes for various symbols on Daily charts. It is important to understand price is the ultimate indicator and we don't want to fight price. We just let price do what it wants to do and try to time the best trading opportunities on the charts. Given what I believe it currently taking place, I suspect the SPY/QQQ will melt upward over the next 5-7+ trading days - attempting to reach a peak price level near October 24-25. Metals appear to be in a consolidation channel (downward) and are struggling to break away from that channel. Move metals do break away from that channel - we are going to see an explosive move to the upside. I suspect that could happen later today or tomorrow. Bitcoin is playing the Excess Phase Peak Pattern perfectly - moving into consolidation and now setting up the #4 (A or B) setup for traders. The next move is going to be explosive - either setting an ultimate high, or breaking downward and returning to recent lows. Should be some exciting trends for all of us over the next 10+ days. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
11
#SPY S&P 500 Outlook: Anticipating a Pullback Before a New Rally I expect the S&P 500, along with the SPY ETF, to undergo a corrective decline from the current levels down to the area highlighted on the chart. This outlook is supported by several factors: 1-Geopolitical Tensions: Ongoing political events in the Middle East and East Asia are likely to contribute to market uncertainty. 2-Economic Data Ambiguities: Persistent uncertainty surrounding U.S. economic indicators is weighing on investor sentiment. 3-Valuation Concerns: A significant number of stocks are trading at valuations far above their intrinsic worth, indicating potential for a correction. Following this anticipated pullback, I foresee a strong upward movement beginning in February 2025, leading to new all-time highs, as indicated by the levels marked on the chart. Wishing everyone good luck and successful trading. ---
AMEX:SPY
by Lawrence-Sherif
1
SPY shows signs of topping outSPY hits all time high throwing multiple signals that the rally is coming to a close Following long term trend, we see we are at same resistance as July hit before reversing declining volume as recent rally continues gives a bearish signal OBV remains flat while price hits higher highs through out September and October We should expect to see a reversal in the near future. The best move to make right now is tighten up stop losses and keeping watching for more bearish signals.
AMEX:SPYShort
by ratchet-mint
$SPY October 15, 2024AMEX:SPY October 15, 2024 15 Minutes. Being a moving average and Fib trader it is difficult for me to enter when the difference is around 10$ is 200 averages for a 15-minute time frame. I prefer to sit for a retracement today for 578.5 to 580 levels. For today. I prefer to sit on side even though i have a target as written earlier 587 levels. And AMEX:SPY made a high 585.27 yesterday. As we can see in daily time frame Between July to September SPY formed a good base between 535 to 565. Hence once 595 is crossed i expect a huge upside towards 640-680 levels. I expect some consolidation for 575 - 585 before next move so that the moving averages can catch with price. No time for short unless it is for a 10 to 15$% range in $SPY. This is my view as of now based on how AMEX:SPY is currently moving in charts. On daily basis I will review downside only when AMEX:SPY is around 560 levels which is 50-day average in daily chart.
AMEX:SPY
by RiderTrader
3
SPY Breakout Setup: Key Levels to Watch for 10/15/24Current Price Action: SPY is in a strong uptrend, following a well-defined trendline on the 1-hour chart. The price has broken above the recent high at $584.71 and is showing continued bullish momentum. Support Levels: Immediate support at $577.66 (previous consolidation area). Strong support at $574.52, which was previously tested multiple times and held. Resistance Levels: Minor resistance at $585.27 (current high). If momentum continues, SPY could potentially move towards the $588-$590 zone. Indicators: MACD is slightly neutral, showing some indecision at the top, but no significant bearish divergence yet. Volume has been steady, suggesting that buyers are still in control as long as the trendline holds. Key Insights: Watch for a pullback to the $577.66 level, which could provide a good buying opportunity if the trendline holds. If SPY consolidates above $585.27, expect another leg higher with potential to reach $590. A break below $574.52 could indicate a reversal or a deeper pullback. Short Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research or consult with a licensed professional before making any trading decisions.
AMEX:SPYLong
by BullBearInsights
SpyI think we are at a pullback zone here.... Price is sitting outside bollingerband and More importantly price has now extended 2½% away from its 21ema. Last 4 times Spy has extended 2-3%, away from its 21ema price Usually pullsback to retest. Here's an example If price gaps up tomorrow 10/15 , then I would be weary of chasing or swing longs.. I'm looking for a pullback to 21 Ema or 574 which is prior bullflag breakout like so. Remember, be overbought is just a condition, you still need a catalyst for the dump or we could just correct "Sideways" which means chop until moving average catch up. If we pop tomorrow, look for the sell to start Either from Asml earnings or TSM which means the correction will be tech lead. If price bounces at 573 then The marathon will continue into big tech earnings next week. Qqq Not as overbought as Spy or dow jones but it did stop at this trendline resistance, and 498 gap close. Like I said , either ASML or TSM I think will crap the bed. I do think tech and QQQ have chance to make a new high but I think it will come either next week or last week of Oct. So to sum things up and keep it simple, Spy pullback to 573-575 and if that holds 600 is next up.. 10year or TVC:TNX Closed Thursday at a brickwall (200sma,trendline) . Usually when 10 year rallies markets pullback. I've been watching this resistance here, any major gap and I expect blood
AMEX:SPYShort
by ContraryTrader
2
SPY/QQQ Plan Your Trade 10-14 EOD Update - Rally Rally RallyWhat a great day for my followers! I created my Roadmap for all of you, and the markets have started this week doing exactly what I expected regarding the SPY/QQQ and Gold/Silver. Next, we should see the rally continue in the SPY/QQQ, and Gold/Silver are moving into an Apex Breakaway setup, which could be very explosive to the upside. Remember, what I do behind the scenes to prepare and understand market conditions is much deeper than what you see in these videos. Every weekend (and most days), I spend quite a bit of time trying to understand what is really taking place beneath the price charts. That is where I gain a deeper understanding of what to expect and how prices will react to changing market dynamics. So, if you like what you see in my Plan Your Trade videos - remember there is much more to do this efficiently than what I'm showing you in these Videos. Also, remember, a Win is a Win. Book it and call it good. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
5