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SPY trade ideas

SPY Paths Moving ForwardSPY is at an interesting spot, it has reclaimed the downward trendline that started in early August, but is yet to reclaim the uptrend from April. We also have ATH shortly above. I could see a test of that area leading to a rejection that may bounce and eventually continue higher if it can hold the trendline. To the downside, if it breaks below tomorrow or soon, my first target would be the gap fill below around 545. I think anywhere from the 530-540 area could as well. That's a big range, but these are decently long term trends and volatility is elevated recently so we can definitely see that area hit quickly if we do sell off and get a fakeout above rather than a breakout.
AMEX:SPY
by AdvancedPlays
1
SPY drop, bounce, u-turnSPY trade idea 5:1 ratio Short = 565 Stop = 570 Profit = 540 (SPY) S&P 500 index rapidly dropped in a week, then bounced in a V shape recovery for 2 weeks, now it could u-turn back down. SPY is back at it's resistance level of it's 2 year trend channel. There's not much upside left this week from the 560 area. However, it could temporarily false breakout. I'm posting this as a short because there's way more downside than upside potential for the next month. Since there has been steady momentum going up from Monday 8/5 bounce off 510 low, this short setup will probably take a few days. It's likely a catalyst related to newsworthy current events (Macroeconomic / Geopolitical) will u-turn the momentum around. The trajectory of this SPY 2 year trend channel ends 2024 at these levels. High: 590, mid: 570, low: 550. S&P 500 average annual return since 1957 is around 10%. Over the past 10 years SPY annual returns are: 2015 = -0.81% 2016 = 9.64% 2017 = 19.38% 2018 = -6.35% 2019 = 28.79% 2020 = 16.16% 2021 = 27.04% 2022 = -19.48% 2023 = 24.29% 2024 = 17.74% YTD SPY options data: 8/23/24 expiry Put Volume Total 227,406 Call Volume Total 194,390 Put/Call Volume Ratio 1.17 Put Open Interest Total 453,568 Call Open Interest Total 231,880 Put/Call Open Interest Ratio 1.96 8/30/24 expiry Put Volume Total 106,190 Call Volume Total 71,114 Put/Call Volume Ratio 1.49 Put Open Interest Total 1,325,995 Call Open Interest Total 400,252 Put/Call Open Interest Ratio 3.31 9/6/24 expiry Put Volume Total 34,413 Call Volume Total 27,127 Put/Call Volume Ratio 1.27 Put Open Interest Total 409,413 Call Open Interest Total 82,889 Put/Call Open Interest Ratio 4.94 9/13/24 expiry Put Volume Total 26,054 Call Volume Total 32,626 Put/Call Volume Ratio 0.80 Put Open Interest Total 790,615 Call Open Interest Total 72,179 Put/Call Open Interest Ratio 10.95 9/20/24 expiry Put Volume Total 240,533 Call Volume Total 90,520 Put/Call Volume Ratio 2.66 Put Open Interest Total 2,778,151 Call Open Interest Total 878,237 Put/Call Open Interest Ratio 3.16
AMEX:SPYShort
by Options360
2
SPY S&P500 ETF W-Shaped RecoveryIf you haven`t bought the previous correction: Now historically, the SPY S&P500 ETF has demonstrated a consistent pattern where a Relative Strength Index (RSI) at or below 30 triggers buying activity. This technical indicator, typically viewed as signaling an oversold condition, has reliably attracted investors looking to capitalize on perceived undervaluation. As a result, these dips have been quickly bought up, suggesting a strong market tendency to rebound from such low RSI levels. I expect the recovery to be V-shaped or W-shaped, ending the year higher.
AMEX:SPYLong
by TopgOptions
Will The SPY Hit 650-700?Just an update on progress in the markets. The dollar has hit my support level already. Because of the quick drop, I expect it to continue to drop even further, though we may get a bit of a bounce first. The Vix is back down and inside of our long-standing sideways channel. And gold has hit its target to the upside. Plus we'll talk about where the SPY (and U.S. Stock market) is going. That section of the video begins around 07:30 if you want to skip right to the title content of the video. And towards the end of the video, we'll of course discuss where I think Bitcoin is still going before the end of the year and also, where I think it will end up by the end of next year. These are longer-term targets but they are not solely predicated upon technical analysis. Though the technicals do help support my claims, there is also some fundamental rationale for why I believe the markets remain so volatile, but overall, they will continue their journey upwards.
AMEX:SPYLong
by stewdamus
Expectations for the week in the SPY ETF!!I took a look at the weekly charts of AMEX:SPY to see what we might expect this week. I have some expectations based on statistics that might help you understand what could happen. Normally, the lows of a week are higher than the lows of the previous week 57.39% of the time. But these chances increase significantly in certain situations, and those conditions are present right now. -There’s a 74.93% chance that this week's low will be higher if last week's close was higher than the open. -If last week's close was the highest of the last 5 weeks, this chance goes up to 77.11% . -And when last week's close was higher than the previous week's close, the probability is 72.79% . As for the close of the week, 64.62% of the time it tends to be lower than the high of the previous week. But this probability also increases to over 70% under certain conditions, which are also present now. -There’s a 72.96% chance that this week's close will be lower than the previous week's high if the open from five weeks ago was higher than last week's close. -And if last week had a range (difference between high and low) greater than 4.13%, the chance is 72.27% . Disclaimer: These expectations are based on statistics and do not guarantee results. The financial market involves risks, but with this information, you can manage your positions and even build smarter trading systems. Just remember to always make decisions with caution.
AMEX:SPY
by LuccasChartRoom
S&P bulls amazing coming backLast week, buyers continued to surprise by maintaining the impressive rally that began on Monday, the 5th. Observing the daily chart, we can see that for 10 consecutive days, the price has been setting new highs, never falling below the previous day's low. As of today (Monday, the 19th), the bulls have retraced 80% of the last bearish wave. It's also notable that buying occurred across all major S&P sectors, not just in a few big names. Here is the current market disposition: 1. The market is in a weekly uptrend, with a new major low officially confirmed at 510 . 2. On the daily chart, we see a beautiful stairstep pattern. 3. The only technical resistance above is July’s high of 565 , but given the rally's momentum, it is likely to be surpassed. The long-term outlook is unequivocally bullish. The short-term outlook is also bullish, as long as the daily stairstep pattern remains intact. For short traders, it is advisable to refrain from trying to catch the top. The current momentum is so strong that it could easily break all technical resistances. The only situation where I would consider cautious shorting is at the daily stairstep pattern break.
AMEX:SPYLong
by hermes_trisme
$SPY August 19, 2024AMEX:SPY August 19, 2024 15 Minutes. Friday AMEX:SPY was struggling around 55 levels as expected. All moving averages are little far off for 15 minutes chart. Hence, I expect sideways until this is sorted out. Considering 2 rises From 531.76 to 555.01 From 548.88 to 555.01 AMEX:SPY in uptrend for the day holding 551 levels. And if breaks 551 levels i have 548-549 as target being 100 averages approximately. 540 is the important levels now to hold to continue this current uptrend as of now. We have clearly oscillator divergence and hence i expect a pull back.
AMEX:SPYShort
by RiderTrader