SPY ADD TARGETS Looking at two price targets to add to SPY. In the case that the market cools in the following weeks / monthsI am looking at $525 level one to add and then looking to add again if we reach as low as $475.
SPY trade ideas
SPY Top?SPY reached the top end of its ascending wedge it has been forming since October of 2023. QQQ is also in a similar spot, I'd expect a failure here. I've been expecting failures, but resistances keep getting broken, so I'll be cautiously optimistic about a failure here. VX is still showing strength, which I find odd. It may be telling of what's to come, but the trend is up for now.
$SPY June 18, 2024AMEX:SPY June 18, 2024
15 Minutes.
As shared on June 13, 2024, setup AMEX:SPY achieved the 546-548 target in one swift move.
And we have a sell bar at ATH in 15 minutes at 548.53, close being near low of bar.
If we take the last rise from 548.61 to 548.53 AMEX:SPY need to hold 544.5 levels to resume uptrend.
In 60 minutes if we take the move 518.36 to 539.9 to 532.04, we have fib extension of 546 as 78.6% extension and 550 as 100% extension.
And in 15 minutes if we consider the move 532.04 to 544.12 to 539.59, we have 549 as 78.6 and 551 as 100% extension for the move.
Hence 548.53 looks like a temporary top.
545 should give a n opportunity to go long with 543 as SL and 550-551 as target for the moment.
Remember the close in day is good so any shorts around 547-548 levels must be covered around 545.
Opened (IRA): SPY August 16th 493 Monied Covered Call... for a 485.25 debit.
Comments: (Late Post). Sold the -75 call against a one lot to emulate the delta metrics of a 25 delta short put, but with built-in short call defense.
Metrics:
Buying Power Effect/Break Even: 485.25
Max Profit: 7.75 ($775)
ROC at Max: 1.60%
ROC at 50% Max: .80%
Will generally look to take profit at 50% max on the entire setup (stock + short call) as a unit, but won't hesitate to roll out the short call if in profit to keep my break even at or near where the underlying is currently trading or to maintain delta metrics.
This is kind of my new favorite setup in the IRA versus short put, particularly in underlyings where the put side is skewed closer to at-the-money than call and where there is heightened IV on the call side.
As previously noted, this only makes sense in a cash secured environment, since you get little buying power relief going with short put over this setup. On margin, the general answer pretty much always is "go with the short put" since that is more buying power efficient than being in stock or in covered call.
Plan Your Trades - SPY Research For 6/17 & BeyondI put together this video to help traders plan and prepare for the next 30-60+ days - as we move into Q2:2024 earnings and pre-election consolidation.
Every week, I spent hours going over my Custom Indexes, proprietary price modeling systems, sector analysis, and more. My goal is to help as many traders as possible prepare for the greatest opportunities of their life (the next 5 to 10+ years).
I see so many traders getting trapped into following free or paid internet advice and blowing up their accounts. In my opinion, stick to the basics. Price is the ultimate indicator.
Then, determine the true bias of price trend and identify strong candidates to profit within that trend.
If you are a daytrader - you probably won't like my research/comments. I don't really daytrade much. I'm more of a swing trader - looking for 8% to 25% swings that take 3 to 20+ weeks to mature.
Either way, this video will help you understand what to expect over the next 30-60+ days in the US/global markets. Prepare for a big move in late June or early July.
Spy SPY is on an uptrend, and if it pulls back tomorrow, I plan to go long as long as it stays above 544, which I consider a bullish signal. However, if it fails to hold above 540, that would be bearish.
SPY WEEKLY JUNE 17 2024SPY weekly is here. If you have any doubts make sure to DM me here. All the crucial levels have been discussed in this analysis.
NOTE: MARKET IS BULLISH & RETRACEMENT CAN COME
$SPY June 17, 2024AMEX:SPY June 17, 2024
15 Minutes/
AMEX:SPY forming HL pattern.
Holding 541 uptrend continues.
And in 60 minutes it must hold 540 levels.
First target is 545-546 range for the week if holding 540 levels.
SPY Set To Fall! SELL!
My dear followers,
This is my opinion on the SPY next move:
The asset is approaching an important pivot point 542.74
Bias - Bearish
Safe Stop Loss - 549.46
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 530.66
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
SPY ETF Analysis: Patience is KeyCurrently, the SPY ETF shows an upward trend in both the long and short term, without clear signs of weakness. The current short-term trend leg seems strong enough to reach higher targets, especially due to the lack of significant resistances, except for round numbers that act as psychological barriers. However, we must consider the maturity of this trend. Prolonged trends can be vulnerable to corrections, which might threaten the continuity of the current rise. Moreover, the overall market scenario is not entirely favorable, with other important ETFs like QQQ, DIA, and IWM showing mixed signals. For instance, the DIA is showing weakness and might be starting a reversal, while the IWM is no longer in an uptrend.
For those looking to buy, it's important to take minimal risks and aim for shorter targets since the trend, although still upward, has reached a dangerous stage. Holding large positions or expecting prolonged movements may not be wise at this moment. Any sign of weakness, such as the current short-term trend leg failing to reach higher targets, should be a reason to exit positions or reduce exposure. On the other hand, for those thinking of selling or taking advantage of a possible decline, it’s prudent to wait for the first signs of weakness in the uptrend before starting to build positions, keeping them light and taking more risk only when there is a confirmed trend change. In conclusion, patience and caution are essential now. It’s better to avoid medium trades and focus on low-risk positions until the market shows clearer direction signals. Better opportunities will come, so stay calm and avoid significant risks.
What do you think of this analysis? Leave your comment below and share your perspectives on SPY!
SPY BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
It makes sense for us to go short on SPY right now from the resistance line above with the target of 531.44 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
✅LIKE AND COMMENT MY IDEAS✅
SPY: Bearish Continuation
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the SPY pair which is likely to be pushed down by the bears so we will sell!
❤️ Please, support our work with like & comment! ❤️
S&P Tug of War Continues as Market Seeks ClarityLast week marked some of the most unclear price action we've seen. Starting on Tuesday, sellers gradually took control from buyers, but most of the action occurred during extended hours (meaning on VERY low volume). On Friday, sellers finally acted during regular trading hours and attacked the market right from the open. However, it seems buyers were only waiting for this, as the price suddenly pivoted, and the day ended with a spectacular bull run.
At this moment, the market is sending very confusing signals, and the best strategy for a swing trader is to simply stay away for some time. Here's a formal summary of the current situation:
1. Long-term Bullish . The price is in an uptrend on both weekly and monthly timeframes. May closed above April’s high
2. Short-term Bearish . Weekly consolidation is in progress, and despite the bull show-off on Friday, the market is still consolidating on the weekly timeframe. Moreover, the week closed with a bearish "hanging man" candle.
3. Respect Friday’s Bull Run . It was unusually strong for bearish context and could easily develop into something significant.
To develop a convincing thesis, we need to see some clarity on the daily chart. Either bears will confirm a daily lower high, signaling the continuation of the weekly consolidation, or bulls will set a daily higher low, signaling the continuation of the uptrend. Until this happens, we can expect more unexpected moves in both directions without much follow-through.
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Market Crash - Weekly Recap & Expectations for Next WeekThe market crash did not start this week unfortunately for me and my puts, but I still have confidence in the setup. I believe we're seeing a large divergence between NQ, ES and the rest of the market, which will eventually correct, it's just hard to say when. I know many are bullish due to the election year and other things, but I remain firm in my stance that we are near the top, even if we rally throughout the summer. We'll see how it goes, I made some short term bets this week that didn't work, but I'm optimistic about the short in the longer term.
SPY is gonna crater - NVDA was the sign like Cisco and Enron!Besides the TTM squeeze being fired off - I've seen some hedgies go to cash, PLUS I'm seeing huge dark pool buying for 2x and 3x BEARISH SPY ETF's. I bought some $11 SPXS puts for .07 a piece as a hedge. There was a ton of OI in those calls...
Links to dark pool buying in the comments.
