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SPY trade ideas

I spy $600Hi everyone - I wanted to make a quick post with my thoughts on the next moves for AMEX:SPY using Elliott Wave Theory and Fibonacci Price/Time levels. I’m on my phone so I apologize if the chart screenshot looks cluttered. AMEX:SPY is currently in a Primary W5 that should conclude in August. Yesterday we saw a spike after CPI came in cooler than expected, which completed the Minor W5/Intermediate W3 at $542.46. The market also received disappointing news that the fed is only planning on one rate cut this year. This type of news bolsters the argument that we are entering an Intermediate W4. I do not think this wave will last long and it could be choppy since Intermediate W2 saw a sharp move down after the extended W1. I will not go short on this trade and will wait to go long near the bottom of the channel ($530) around June 24th. As you can see on the volume profile, there is significant buying pressure at this level which will propel us into Intermediate W5. The fifth wave will need to reach the Primary 1.618 price level and Primary 1.618 fib time marker. These levels cross on August 6th at $594. I think there will be psychological pressure to hit $600 since we’ll be in a PW5/IW5/MW5 wave. From there, I predict we enter a bear market that could also carry a negative news catalyst. If the bear market is primarily technical without fundamental support, I predict the market will pick back up next year.
AMEX:SPYLong
by ap769
9
$SPY Trading Range for Friday, August 2ndll right, so tomorrow’s implied move is really big. It is $6.87 in each direction, so the implied move is between 536 and 551. The implied move on Monday’s contract is between 534 and 553. The 50-day moving average is cutting right across the trading ranges for the next two days, and we have been shopping violently around that level. Above the trading range, we have the 30-minute two moving average and the one-hour two moving average. Those are both pointing down, and actually, the one-hour two moving average is pretty flat. Then we have the four-hour two moving average underneath our trading range and right towards the bottom of the implied move for tomorrow. We do have the remainder of that gap from June. That was June when we also had CPI and PPI right around that time as well. That gap could act as support if we drop down to it tomorrow, as it has held us up for the past two weeks.
AMEX:SPY
by SPYder_QQQueen_Trading
SPY: Wave 3On my AMD analysis I mentioned the Sahm Rule Recession Indicator, so tomorrow's unemployment rate could signal this indicator. I was thinking we'd fill the gap at 562, but based on further analysis, it appears that we are beginning wave 3 down and today's gap fill at 554 signaled the top of wave 2. This VIX is showing signs of a breakout to the upside with the monthly chart on SPY, as well as many other stocks, is showing more selling ahead. I think META is going to be the big winner for PUT buyers since there is a sizeable gap that was created after earnings. I will post a chart on META next. SPY PT1 is 527 and PT2 519
AMEX:SPYShort
by FiboTrader1
2
S&P weekly consolidation ongoing; uptrend still intactLast week began with a bull rally that was very short-lived. Sellers stepped in, driving the price down through the last consolidation (and potential support) zone. By the end of the week, the market experienced a 180-degree shift in sentiment, with Friday closing with a bullish inside candle. Currently, we have the following disposition: 1. The price is in an uptrend on the weekly chart, indicating that long-term buyers still maintain control. 2. The daily chart shows a downtrend, but so far, sellers have only managed to retrace 50% of the previous green wave. 3. There is an unfilled gap from Wednesday, the 24th. If bulls can fill this gap this week, it will demonstrate their strength. From a fundamental perspective, there was no significant negative news. On the contrary, the inflation data was quite positive, and earnings were mostly decent, except for TSLA. This suggests that the current downtrend is just a controlled weekly consolidation. Therefore, we should look for a weekly higher low to enter LONG positions to capitalize on the continuation of the weekly uptrend. A lot will depend on the Big Tech earnings reports coming out this week, but so far, there is no reason to expect negative surprises. Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPY
by hermes_trisme
Full Send Incoming - Through The Van Allen Radiation Belt We Go!Put on your oxygen masks ladies and gentlemen. The U.S. stock market is about to go ballistic. You all know from my daily chart, we nearly hit the target of my inverse head and shoulders pattern to the dollar. Target was 570. One of my recent posts indicated that I was selling half at 560, taking my profit, and parking it in cash. But now, I will take that cash and pack my bags again as the market is getting ready to blow minds. Literally, everyone is predicting a market crash soon. And that may happen. But not before a rocket launch to the moon that will rip faces off. Pack your bags and BTFD folks. Ticket sales will be on fire for this rocket ride.
AMEX:SPYLong
by stewdamus
SPY/QQQ Plan Your Trade 8-1 : Where's the BaseRally301 PatternI know. I'm asking the same question. Today's move is not normal. The US markets don't move 1.5 to 3.5% on normal days. This is something bigger - outside the normal scope of market data. It could be the election conflict in Venezuela. It could be the US POTUS election news. It could be what appears to be a collapse in Asian markets. It could be that European markets fell hard today. It could be anything that is related to forward expectations for the US/Global markets. My data is still showing this is a DIP in a bullish trend (a BUY THE DIP opportunity). My data shows the following: - Europe & Asia are trending downward. - US is following Europe/Asia. - US-Dollar Demand (SPY BASE TREND) is flat - but still strong - Hedge Assets (Gold/Silver/BTCUSD) are holding up well in the face of this move. - The MRM system has not turned BEARISH yet (that's good). - Major Markets To Metals (hedge instruments) are much weaker. - The Volatility Index is at 15.51 (still above the <12 level for a bearish trend). - The Leading Index is lower (showing Volatility near a Flag Apex). - The Market Ratio index is higher (showing reflation strength). - The US to Global Index is still showing the US markets are stronger than the foreign markets. - The US Valuation Trend index is at 240 (reflating strongly compared to foreign markets). After watching the price trend all morning with my new MENT Pressure System (including the Fibonacci Price Theory model), I really do believe this is a FLUSH-OUT LOW setting up which will revert back into a bullish price trend (the Vortex Rally phase). Nothing seems broken to me (yet). Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
SPY/QQQ Plan Your Trade 8-1 : Base Rally After Gap FillToday's BaseRally301 pattern is certainly giving us a run for our money. I expected a bit of a pullback in early trading today, but I didn't expect the SPY price to fall far enough to CLOSE THE GAP. This is a great example of staying agile and running with what price gives us. Now, as we have closed the GAP and still trying to find a base/support level to mount another rally attempt. Please watch this to learn how important the next 4 hours are related to the future rally trend for the SPY. Today should be very interesting if the SPY Cycle Pattern plays out as I expect. This video also includes Gold, Bitcoin, and the QQQ. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
2
SPY/QQQ Plan Your Trade 8-1 : BaseRally301 Pattern TodayThis video is to help you understand the continued initiation of the Vortex Rally phase and how today's BaseRally301 pattern will play out. Within this video, I cover the SPY, QQQ, Gold, & BTCUSD. This should really give you a solid primer as to what I expect the SPY to do today and why I'm waiting for the first 30 to 60+ minutes to play out before looking for any trades. I expect the SPY to move in a consolidated downward price trend for the first 30-60+ min, then start to move into the rally phase. Plan your trade. Remember to use the allocation model I shared with everyone yesterday. A. Pick your Entry Price B. Pick your Stop Level C. The difference between your Entry Price and Stop Level becomes your RISK FACTOR (say $2). D. Pick how much you are willing to RISK AMOUNT on this trade (say $500) E. Divide Your Risk Amount (D) by the Risk Factor (C): 500 / 2 = 250. You are only allowed to trade 250 shares (or less) to maintain your risk containment levels. It is pretty simple once you get used to this structure. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
2