SPY Expanding MegaphoneSPY has formed an expanding megaphone on the weekly. Check the open interest for September contracts. Someone knows something. Once we get confirmation of a sell off starting. Look for this to continue to the lower channel.
SPY trade ideas
SPY/QQQ Plan Your Trade Update - Markets Will Retrace 7/15-7/20Afternoon everyone,
As I continue to prepare more research for all of you going further into July, I wanted to share my belief that the SPY/QQQ will retrace shortly. I expect this retracement to happen near 7/15~7/20 and possibly last 1~3 weeks.
Price trends don't always go straight up or straight down. That's why you must learn to take advantage of my research on these types of trends.
When the markets hand you this type of opportunity, you must be ready to pounce on these easy moves.
I try to teach everyone the hardest thing to learn is patience. You have to wait for the markets to give you these opportunities.
Watch this video to learn what to expect next week and the potential for a parabolic price trend going into the end of 2024.
I'll return with a new Plan Your Trade video for Monday and beyond.
Have a safe holiday weekend. I know lots of people are already traveling and visiting family.
SPY ATR LEVELS Looking for these area with volume and price action. Up in no mans land, lots of profit need to be taken at these levels. Unless someone know something that I dont know. :) SPYS ATR level is 4.27
S&P warning signs are mounting; not a "game over" yetPrice formed a reversal pattern on the daily chart. But is it "game over" for the buyers? Watch video to learn more
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
SPY Short and Then LongWe have an imbalance below. That will likely fill. After the retraction, from the supply to demand flip zone, market will bounce to all time highs. I will buy 540 put options. Then afterwards Calls.
SPY update 7/4D:
Sentiment: Above Neutral
Trend: up
Flow: N/A
Support: 548 b\o resistance turned support test/ 530 UTL
Resistance: 580 UTL
4hr:
Sentiment: Bearish
Trend: up
Support: 540-543
Resistance: 560
1hr:
Sentiment: above neutral
Trend: up
Support: 550psych/UTL
Resistance: 552 UTL
Analysis:
Sentiment not much of a factor here considering that we can stay hot longer than expected and other than 4hr others are above neutral. Nice b/o on daily has room to run higher if data comes out + for SPY Friday. Just like Q’s I’d like a retest of b/o zone for a long
Elliott Wave Looking for New Impulsive Rally in Tesla (TSLA)Short Term Elliott Wave in Tesla (TSLA) shows an impulsive rally from 4.22.2024 low. Up from 4.22.2024 low, wave (1) ended at 198.87 and pullback in wave (2) ended at 167.41. The stock then nested higher in wave (3). Up from wave (2), wave 1 ended at 191.08 and dips in wave 2 ended at 176.92. The stock then rallies higher in wave 3. Internal subdivision of wave 3 unfolded as another impulse in lesser degree. Up from wave 2, wave ((i)) ended at 188.95 and pullback in wave ((ii)) ended at 179.66.
From wave ((ii)) low, the stock nested higher again within wave ((iii)). Up from wave ((ii)), wave i ended at 188.8 and wave ii pullback ended at 182.01. Wave iii rally ended at 198.72 and pullback in wave iv ended at 194.05. Final leg wave v ended at 203.2 which completed wave (i). Pullback in wave (ii) ended at 195.26. Up from there, wave i of (iii) ended at 213.19 and wave ii of (iii) ended at 202. Wave iii higher ended at 231.15 and dips in wave iv ended at 225.87. Near term, as far as pivot at 176.48 low stays intact, expect pullback to find buyers in 3, 7, or 11 swing for further upside.
$SPY July 4, 2024AMEX:SPY July 4, 2024
Happy 4th Of July.
AMEX:SPY broke out.
Now holding 547 we target 552.5 to 555.
As I do 15 minutes time frame my targets are small range only.
But as written many times, if AMEX:SPY now can hold 540 levels we have a huge upside.
Time to be long only in daily. I still believe 630-640 is very much on card.
SPY/QQQ Plan Your Trade July 3 ReviewThank you for all the great comments and suggestions. I love the fact that I'm helping so many traders find success with my research.
This video is really a recap of this week while we head into the 4th of July holiday and Friday's big Momentum Rally day.
Please take some time to review the other videos I have posted on TradingView to learn better techniques and refine your skills. You'll see me use these techniques over and over again on my charts.
Have a safe and fun 4th. We'll go get some more profits on Friday and into next week.
SPIDER is still expensive, well at least 10 % discount with RSI?spider is my aim, still any 10% discount? well, is better than nothing ...
any tools better than RSI for the discount?
$SPY July 3 ,2024AMEX:SPY July 3 ,2024
15 Minutes.
For the fall 550.28 to 542.53 AMEX:SPY has retrcaed more than 61.8%.
Now for the rise 543.65 to 548.98 holding 546 is important.
We already have 550 levels rejectedtwice in last few days.
Henc lomng only above 551 with proper close of bar.
For the day i will go long at 547 for 550 SL 545.5.
We have 50 averages above 200. i expect 546 to provide good support.
SPY BULLISH OR BEARISHI Think SPY will GAP DOWN TOMORROW THEN PUSH UP WE FAIL TO CLOSE ABOVE 549.10 WHICH WAS WHEN STRUCTURE BROKE LAST FRIDAY ON THE 28TH SPY REJECTED AT 550 THEN DROPPED TO 544 Then went Back an closed right below 549.10 a key level.
SPY/QQQ Plan Your Trade Review & Pre 4th ExpectationsThank you for all your comments, likes, and Boosts recently.
It's lovely to see my research helping so many traders.
I know some of you have recently been caught on the wrong side of market trends—this happens to the best of us. I've learned to wait out market activity I don't like and try to trade the bigger price swings, like the RALLY patterns yesterday and today.
You can't try to stand in front of the markets and force them to move in the direction you want. You have to stand back and catch moves that are opportunistic and present clear success opportunities.
This video reviews the past 8+ trading days, my SPY Cycle Pattern predictions, and what will likely happen over the next 7+ trading days.
In short, I expect the markets to slide into the July 4th holiday with a moderate melt-up trend and then move into a strong short squeeze on Friday (7/5).
This leads us to next week (8-12), where we'll get early Q2:2024 earnings data. I believe next week will continue the upward price trend - pushing the SPY above $560+.
The following week (15-19) is exciting. There is a very real potential for a moderately strong price correction on Wednesday/Thursday of this week, which could be a huge opportunity for skilled traders.
So, thank you again for commenting, liking, and Boosting these videos. I'll probably keep them going for a few weeks to help more traders.
Remember - focus on the facts/data and avoid the emotional side of trading. The markets always want to take your money. Find out how to wait for the markets to give you profit opportunities.
SPY Medium Term Price Targets $561, $583, $691-$694 looks especially strong; but likely bumpy before we get there.
SPY Short IdeaPretty choppy day so far, but we have been grinding up all day pretty much and VX is making new all time lows once again. However, I wouldn't expect much more of a rally today, but we'll see. For now, I think SPY will fail on this retest and chop out the rest of the session.
SPY ATR LEVELS Scalp and StandardLooking for price action to come at these levels with volume, Papa Powell gonna bust us to higher highs or lower lows.... Lets see
Plan Your Trade July 2 - The Big Rally Day Is Here.This continued series highlighting my SPY Cycle Patterns continues this week.
Today, the Rally pattern is in Trend mode. This usually suggests a powerful potential for a moderately large upward price bar on the SPY chart.
Although, this morning, we are seeing a moderately high pre-market price below yesterday's closing price. Does this negate the Rally pattern?
Nope. The pattern is fixed. It will either become successful or fail.
Remember, these SPY Cycle Patterns have a (roughly) 70% to 80% success rate. Thus, we can rely on them for guidance, but we must always prepare for potential failure (just like when making trading decisions).
I'm sticking to the SPY Cycle Patterns today. I'm not worried about the deep, lower opening price right now. However, this profoundly lower pre-market price could prompt a substantial"wash-out" event for the shorts when the market shifts to the regular session.
It seems that today is going to be a "make or break" day. Watch this video to see how I will play today's price action.
Go get some.
SPY - out of gas, bears winYou can see that AMEX:SPY is falling away from the upper Bollinger Band, and MACD has signaled that selling pressure is building.
SPY 547 LevelIf Spy can break above 547 with volume I think we can push to 550 level but if we reject from there I think by the end of the next week we fill the 536 gap.
double top SPY chartSPY hit ATH's then double topped.
Expecting a pullback to 520-=500ish then continuation upward through July after the 4th.
Quarterly and 6 month: SPY, SPX and ESAs promised, I am sharing the quarterly and 6 month levels including the High prob targets.
Hope you enjoy, leave your questions below and safe trades!
SPY: Beware of These Reversal Patterns!In the daily chart of the SPY, a potential double top pattern is forming, signaling a bearish reversal. The key resistance level for this pattern is around 550.12, where the price has failed to break through on two recent occasions, marked by red arrows.
This level is critical for traders to watch as it represents a significant hurdle for any upward momentum. If SPY fails to close above this resistance, it might lead to a bearish breakdown towards the neckline support at 542.62. A break below this level would confirm the double top pattern, potentially leading to a further decline towards the next support around 533.07.
On the weekly chart, a gravestone doji pattern has emerged, a strong bearish reversal signal, especially after a sustained uptrend. This pattern indicates that buyers were unable to maintain higher prices, leading to a close near the week's low.
The gravestone doji, appearing near the resistance level around 550.12, reinforces the bearish outlook suggested by the daily double top pattern. If the bearish sentiment persists, the first significant support to monitor is the 21-week EMA, which has historically provided dynamic support during uptrends.
Integrating the daily and weekly charts, SPY is at a crucial juncture. The double top pattern on the daily chart and the gravestone doji on the weekly chart both indicate potential bearish pressure. If you are bullish, a decisive close above 550.12 would invalidate the double top and suggest a continuation of the uptrend. However, the current technical indicators favor a bearish scenario, with the potential for a significant correction if key support levels are breached. For now, we should closely monitor these critical levels to gauge SPY's next move, balancing the bearish signals with the potential for bullish invalidation.
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.
SPY ready to dive a bit!SPY bearish harmonic pattern supported by relative volume. aiming for target 4 here@! let's get it 💵🤘🏻🤑
