SPY - Gann and Fibonacci SPY is sincerely following Gann and Fibonacci Tool towards Nov 29th. Let's see if it push to the red zone or break below of it, wait and watch. Longby bmusaboyinaPublished 0
Ascending ChannelBased on the chart, the current trend appears bullish but shows signs of potential consolidation or hesitation near the upper resistance. Here are key observations: Upward Channel: The price is moving within an ascending channel, generally a bullish signal, as it reflects a series of higher highs and higher lows. Consolidation Near Resistance: The price action near the top of the channel suggests consolidation. This could indicate a bullish continuation if it breaks above resistance, but if it fails to do so, there could be a bearish reversal down to the support trendline. Election Date Impact: The November 5th marker might act as a catalyst. If uncertainty or risk increases around the election, we might see more volatility, potentially breaking out of this channel. For now, the trend remains bullish within the channel, but keep an eye on resistance and how the price behaves as it approaches that key date. A breakout would be bullish, while a reversal could signal a short-term bearish move. by JerryDanielPublished 0
Framing of my routine on 5min 15min drawings of 10/30/2024Using Today chart as example. We see pullback test at 5min ORB high. showing respect to prev breakout price! good news for bulls! and 5min also held the (S), by rejection of closing back above (S) on the 2nd candle. showing us a fakeout, tricked some impatient bears.wasted BP. sad. Longby FIBivanSPYPublished 221
SPY Technical Analysis for Oct. 30, 2024Technical Analysis Resistance Levels: 585.26: This level represents a recent high and serves as a short-term resistance. If SPY breaks and holds above this, it could lead to further bullish momentum. 584.44 and 583.05: These are additional resistance zones, highlighted in red, which could act as potential selling zones if SPY approaches them. Support Levels: 582.98: This support level has held several times, indicating it’s an area of buying interest. A breakdown below this could indicate bearish sentiment. 578.46 and 577.61: These lower support zones could come into play if SPY sees increased selling pressure, providing areas to watch for a possible bounce. Trendlines and Patterns: The downward-sloping trendline is broken, suggesting a shift from bearish to bullish sentiment, at least temporarily. A consolidation zone around 580-582 (marked in green) indicates a demand zone where buyers have previously stepped in. This could act as a key support if SPY retraces. Volume Analysis: Volume has shown some spikes near the resistance levels, indicating that traders are actively watching these levels. If SPY approaches these levels with high volume, it might either push through or face strong resistance. Momentum Indicators: The momentum indicator below the price chart is beginning to show bullish divergence, indicating that momentum may be shifting in favor of the bulls. This is supportive of a potential continuation to the upside, but it would require confirmation by holding above key support zones. Directional Thoughts For tomorrow: Bullish Scenario: If SPY opens above 583.05 and holds, it could attempt to test the 585.26 resistance. A strong breakout above 585.26 with volume might lead to further bullish moves. Bearish Scenario: A drop below 582.98 might lead to a retest of the 580.83 support level. A failure to hold above this could see SPY move towards the 578.46 level. Given the broken downtrend and initial signs of bullish momentum, I’m leaning toward a bullish outlook for tomorrow as long as SPY stays above the key 582.98 level. Watch for entry points near support and potential targets at resistance levels. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and you should consult with a financial advisor to ensure it aligns with your individual circumstances. Always do your own research before making any trading decisions.by BullBear-InsightsPublished 1
Spy idea Massive Macd divergence . I think tomorrow it gaps up but will quickly vanish . I expect 575 then 566 targets in November . We will see if this structure fails and spy goes up but even if it does as high as588 it will fall back down to support . That’s what I think bought a put option today at close for end of November Shortby TodopoderosoPublished 0
Chop, Chop, Chop!!! ES/SPY Weekly Analysis!It’s Tuesday’s and SPY and ES are still awaiting a breakout. Price action has been very choppy the past few days, with no clear sign of direction. We notice that ES has a 2HR FVG above at 5910. Once ES fills this gap, we could be ready to break out and continue up, forming new all time highs. But keep in mind we could also hit our heads at that level and fall back down. Looking at SPY on the daily chart, we notice that SPY has a wick left in a daily FVG below at 573. This is usually an indicator that price action will want to come back down at some point. Timing it is key, while also remaining patient for the right set-up to reveal itself. This Friday is Non-Farm Employment Change. A time when the markets can produce some really volatile moves. As we are approaching Friday, we are studying the candlesticks to see how they form patterns, signaling the upcoming break-out. We have been trading in a tight range on SPY from about 585 to 580, with a few wicks dipping its toes into the 578 area. This week closes with Non-Farm Employment Change, and next week closes with a new U.S President and new federal finds rate. We are not yet sure which event will be the catalyst to the breakout, either up or down. These events will cause a lot of emotions and possible volatility in the markets, so it really could go either way. Tonight when ES opened back up this evening, we see how it gapped up. A gap up usually means an immediate pullback. Once price action comes down to fill the gap, we would need price to stay down if it were to continue to fall. If we find support then it’s possible we could chop a bit longer, or make our way to the upside! by RandiMichellePublished 0
SPY Topping: Circle Theory?Been trying circular "TA" on a few different stocks, and trying out this pattern I started using and seeing results from w/ GME. Seen here using GME: by ShaneLundPublished 1
How my chart look, using (S)&(R) with OrbFib. Open~Close.When Market open: 1) wait 5min close to draw Orb Fibonacci(0%,0.5%1.0%,1.5%,2%) wait 15min to close to draw Orb Fib. 2) Keep looks for (S) anf (R) to draw after 5min&15min candles close. 3)use (Support)&(Resistance) from your "drawing" and (Support)&(Resistance) from "Orb Fib" levels to CALCULATE your Risk to decide where is to enter trade. Sniping tips: Entry signal look for (S) or (R) pullback rejection by bouncing the level of (S)/(R), Reason is bc it show solid respect to that specific (S) or (R).ITo me it's an area that Price is not ready to break over/under yet. That will allow you time use that current new (S)/(R) rejection entry to aim that prev (S)/(R)! and Possibly break out of that too, just make sure you are following the bigger picture trend!Educationby FIBivanSPYPublished 1
SPY - Still Bullish?AMEX:SPY - SPDR S&P 500 ETF - just keeps moving up. Price is about 10% away from price target #3 of $623. Price has been moving as if an algorithm is controlling it. When it hits the topside trend line it seem to drop down to the 100 day EMA(blue line). Then it pushes back up. This is one to watch!Longby PortfolioBuildersClubUpdated 0
Nightly $SPY Prediction for 10.29.2024⏰8:30am Goods Trade Balance Prelim Wholesale Inventories m/m ⏰9:00am S&P/CS Composite-20 HPI y/y HPI m/m ⏰10:00am CB Consumer Confidence JOLTS Job Openings #trading #stock #stockmarket #today #swingtrading #charting #investingLongby PogChanPublished 0
Possible Second Entry Long In the SPYToo long to watch recap: Bull Case: Hit the top of the keltner Bounce off the 20 ema Second entry possible formation on todays candle Inside bar formed today Bear Case: Strong selling Bulls sold to break even but, they need a reason to come back Modified MACD showing strong bear volume Long06:54by JoeRodTradesPublished 0
Expired SPY Weekly outlook. 4th WK OCT 2024Expired SPY Weekly outlook. 4th WK OCT 2024 > BULLISH 📈 HIT Prior Week Closed Price: 584.59 This Week Target Price: 587 Strike Price: 586.12 on OCT 24, 2024 Upper Range: 599 Lower Range: 575 Longby putIQPublished 1
Trades SPY, BTCFor ease of reference for my Copiers, the chart shows current and historical trades of my trading strategy. Updated with a time lag. Bookmark the page for updates. 🫰 Happy Trading 🐆 MrStocky Short-Term Trader AMEX:SPY SP:SPX COINBASE:BTCUSD AMEX:GBTC Not Financial Advice Historical Performance Not Indicator of Future Returnsby mrstockyetoroPublished 0
$SPY next-week!AMEX:SPY Trade Setup 💡 Target Entry: < $577 Position: SPY 574 Puts (Oct 30 Expiry) Technical Analysis: Multiple tests of major trendline last week = critical support level Two potential scenarios: Trendline Break ⬇️ Expect accelerated downside momentum Trendline Hold ⬆️ Watch $585.27 as key breakout level Break above = potential run to new ATHs Risk Management: Entry only if price drops below $577 Clear invalidation points at trendline and $585.27by A1TradingHubPublished 1
SPY BULLISH CONTINUATION AHEAD|LONG| ✅SPY is trading in a Strong uptrend and the etf Is now making a local bearish Correction towards the support Of 574.40$ from where we will Be expecting a bullish rebound And a move up LONG🚀 ✅Like and subscribe to never miss a new idea!✅ Longby ProSignalsFxPublished 112
SPY diamond top possible SPY has formed a diamond with a $9 range looking for break of trend then retest of trend break to short.by RLB512Updated 2
Round top Pattern It's a clear round top pattern, signaling a potential trend reversal. This occurs when an asset's price rises gradually to a peak, then slowly declines, forming a rounded, dome-like shape on the chart. The pattern indicates weakening upward momentum and suggests a possible downward trend or sell-off. Traders often view it as bearish, particularly if the price breaks below the support level at the base of the round top.Shortby JerryDanielPublished 2
SPY Trading Plan 10/23ATR range for today is low of 576.82. And a high of 586.39. Exit at first target 581.01. Runner to 583.27. Set up for max loss. Longby MMOTA_Updated 0
A Slow & Choppy Week!This week has been soo choppy and I am tired of looking at it! Its not yet clear if we want to fall past 577 towards 574 and find support there on SPY, or if we want to continue to form a new order block and then break out to continue our bullish run. Based on the candlesticks thus far and looking at the fair value gaps (FVGs) formed on the daily and weekly, I believe that price action has the potential to continue to drop to as low as 563 on SPY. It could take us a few weeks to get there but its possible. We are only a few weeks away from election and officially naming our new US President! Due to the anticipation of the results, we could see fear being pumped into the market as near closer to Nov 5. As of right now I am waiting to see what how we close this week. Trading the chop can be challenging, but also possible with the correct strategy. by RandiMichellePublished 0
$SPY October23, 2024AMEX:SPY October23, 2024 15 Minutes. One of those days. Did not break 585 or 580 for any trade. For the day we can see the LL made oscillator divergence. Hence holding 582.5 we can expect 585-586.5 for this move. I am looking for a trade for the move 585.5 to 589 holding 582.5. Longby RiderTraderPublished 4
SPY put looks like every month within the first couple of day SPY has a pull back and I'm expecting the same this November especially with the uncertainty of the election and FOMC. Shortby Shawn0323Published 0
Trading Plan for Tomorrow (October 23, 2024)Trading Plan for Tomorrow (October 23, 2024): 1. Bias: Neutral-to-Bullish The overall bias is neutral-to-bullish, with the 60-minute chart showing a continuation of the upward trend, despite potential near-term weakness in momentum. Expect some consolidation between 583 and 585, with the potential for upside breakouts if SPY manages to hold above 583. 2. Entry Strategy: Preferred Buy Zones: On pullbacks near 581-582, you can look for a reversal pattern on the 5-minute or 30-minute chart. A confirmed buy signal in these areas, supported by a cross-up in the MACD, will be ideal for entering a long position. If SPY pulls back to the 578-580 range, this would offer a better risk-to-reward entry point, especially if support holds near these levels. Breakout Buy: If SPY closes above 585, you may consider a breakout buy, especially if confirmed by strong momentum indicators (e.g., positive MACD histogram on the 5-minute chart and strong volume). 3. Exit Strategy: Profit-Taking: For a long position entered around 581-582, consider taking partial profits near 585 or scaling out if resistance appears strong at this level. If SPY breaks above 585, trail your stops to lock in gains around 586-587. Stop-Loss: Use a stop-loss slightly below the nearest support, around 580, if entering a long position around 581-582. This keeps the risk tight while allowing for volatility. For more aggressive entries, like breakouts above 585, place stops near 583 to protect against false breakouts. 4. Indicators to Watch: MACD Crossovers on the 5-minute and 30-minute charts will provide timely buy/sell signals, especially for short-term entries. Volume and Volatility: If volume increases on a breakout above 585, it will confirm a bullish continuation. RSI: Watch for divergences on the 5-minute chart. If the RSI dips into oversold levels (below 30), it could signal a strong rebound opportunity. Conclusion: The strategy for tomorrow should focus on watching key levels: 583 (current price action), 585 (resistance), and 580 (support). Positioning should favor the upside unless key support levels break, but be prepared for volatility around these levels. Use the 5-minute chart for refined entry and exit points, while the 30-minute and 60-minute charts guide the overall trend and momentum.Longby pythianscopePublished 2