@SPY bulls can take advantage and retest 600 SPY have been under pressure from short sellers for some time now but looking at this channel we could see buyers stock advantage and to reload their position at 575 and with a break through from 590 ,SPY could be on its way to retest the 600 which serves as a previous resistance .
SPY trade ideas
SPY/QQQ Plan Your Trade For 1-15 : Inside BreakawayToday is going to be a very interesting day.
Mortgage data came in very strong, while CPI data came in moderately weaker. That is setting up a very strong GAP RALLY phase in the markets.
Shorts are going to get SQUEEZED HARD this morning, and I suspect we may see a carry-through rally lasting most of the day.
Be cautious of a pullback after the big GAP opening (higher) this morning.
Gold and Silver are attempting to move higher - which is perfect if the US Dollar weakens moderately. Overall, Gold and Silver are attempting to hedge risk factors into 2025.
Bitcoin will likely run into resistance just below $100k and attempt to fall downward again.
This is a very exciting week because it appears the markets are shaking off the debt/credit/yields concerns and moving back to normal.
Remember, where else will investors place their capital for Growth and Returns - other than the US? As I see it, the US markets are still the 900lb Gorilla in the global markets simply because of the ability of the US economy to rebound and recover much quicker than other foreign economies.
Get some.
BIG SHORT SQUEEZE this morning.
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$SPY January 15th, 2025AMEX:SPY January 15th, 2025
15 minutes
As the numbers are below 200 averages in 15 minutes, I will short.
For the fall 595 to 575 we have ascillator divergence, therefore, taking 575.35 as the low, drawing extension for the move 575.5 to 585 to 578.35, we have a first target of 588 and second target of 594 levels
For the fall 597.75 to 575.35 we have 0.618 retracement at 590 - 591 levels.
That is the level I will short.
However, we have 200 averages at 588 levels, therefore the short will give us only $2 profit.
Since the risk to reward is not good, we have to wait for the first 15 minute bar to form to see how the close is located, either near top or near bottom.
As written many times, gaps which are unfilled are strong, therefore if we get the first bar close near top, keeping the low of the bar as stoploss, we have to go long.
The reason is the values become above 200 averages, therby triggering a buy.
Market Overview: More Real Life Patterns!!!I cover the Argentina banking sector and how a lot of stocks are covering the same patterns. I also discussed the complex pullback pattern that has been so prevalent in this market. We can see them in stocks like NASDAQ:LULU NYSE:WES NASDAQ:UAL and the short setup today, $S.
There is also quite a few long setups. One that I like in particular is $ENB.
The AMEX:SPY is in a steady range with a slight bearish bias.
If you're short stocks, make sure you are reducing risk and taking your 1:1!
Good luck and Good Trading!
2025 Recession, SPY to Crash But Not YetEvery finance youtuber has been singing about an incoming market crash, recession and all sorts of doom for the past year during this unprecedented (very precedented?) bull run after yields inverted.
Just going by the usual patterns and the technicals I would guess that the real pain wont start until April or May, that is based on how bonds uninverted in both 2000 and 2008.
I think it makes sense, there is a lot of excitement around Trump and what he will do, all this make America Great and panama and tax cuts and IRS. The first 100 days of the Trump Presidency could have some hope which keeps the market afloat, and as a twist of fate the end of the 100 days lines up with the typical crash timing after an uninversion, that being around May of this year.
If we do crash and go to recession I expect some big action from the Fed, after all we have Trump and he will be flaming Powel all day long, so the Fed may react quickly with a big cut that pumps the market up and then 1 more drop to gap fill us around 4300 level (SPY 430).
Overall I expect a year of pain for the SNP500, but It won't start just yet, this has been a massive run up and so a topping pattern will take time to form, wait for signs of distribution lower low followed by lower high, sell in May and Stay Away.
We will see if/how it plays out.
Good Luck, Safe Trades, God Bless.
SPY Consolidates Near Key Resistance! Can Bulls Break Out?Technical Analysis Overview:
1-Hour Chart:
* Trend: SPY is trading in a descending wedge pattern, with resistance at $583 and support near $579.
* Indicators:
* MACD: Neutral with minimal momentum, indicating consolidation.
* Stochastic RSI: Moderately overbought at 61, suggesting a potential pause or pullback.
30-Minute Chart:
* Price Action:
* SPY is consolidating near $582, with immediate resistance at $583.
* Key support levels at $579 and $577 are holding steady.
* Volume: Slightly declining, indicating market indecision near resistance.
Key Levels to Watch:
Support Levels:
* $579: Immediate support zone, aligning with HVL.
* $577: Secondary support, coinciding with the 2nd PUT Wall.
* $575: Strong support near the 3rd PUT Wall.
Resistance Levels:
* $582: Immediate resistance zone, aligning with the 2nd CALL Wall.
* $583: Key resistance level.
* $584-$586: Major resistance zone with GEX walls.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $582: Immediate resistance aligned with the highest positive NETGEX.
* $583-$584: Key resistance zone with 21.23% GEX (2nd CALL Wall).
* $586: Long-term resistance zone (18.39% GEX).
* Negative Gamma Levels (Support):
* $579: Strong support backed by HVL.
* $577: Key PUT Wall support (-43.2% GEX).
* $575: Significant PUT Wall support (-39.18% GEX).
Options Metrics:
* IVR: 29.6, indicating low implied volatility.
* IVx: 19.8, reflecting subdued market expectations.
* Call/Put Bias: PUTs dominate at 49.2%, suggesting cautious sentiment.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $583 with volume confirmation.
* Target: $584-$586.
* Stop-Loss: Below $579 to limit downside risk.
Bearish Scenario:
* Entry: Rejection at $583 or a breakdown below $579.
* Target: $577-$575.
* Stop-Loss: Above $584 to manage risk.
Directional Bias:
* SPY is consolidating near a critical resistance zone at $583. A breakout could lead to bullish momentum toward $584-$586, while failure to clear resistance may result in a pullback toward $579 or lower.
Conclusion:
SPY is at a pivotal level near $583. A breakout above this resistance could signal further bullish continuation, while a rejection might trigger consolidation or a pullback. Traders should closely monitor price action and volume for confirmation.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
SPY Mid week analysis 1/14/25SPY - Monthly reversal is now being negated as we moved back above the monthly 2-2d trigger at Prev Month Low. We are also now failed 2D coming back through previous week range. The daily went 2-2 rev, but closed failed 2u as we made higher highs, but closed red near mid range of the day. The question for tomorrow is do we continue pushing back through last weeks range to expand the BF created by the 3 from last week, or do we take the failed 2u - 2D reversal, reconfirm the Monthly reversal down as well as the weekly 3-2D. We have a 3-1 setup on the 4HR as well as an inside bar 60 which is what I will be watching going into open tomorrow assuming no gap up or down. Should be an exciting rest of the week as we look to see if bears can reclaim control on the W and M, or if Bulls are setting up for a recovery back to ATH.
Levels to watch: Current 60 inside bar High and Low, Current 4HR bar high and low, Prev month low, 585.96 for upside which is the 2-2U rev target we did not get to today, but may compound 2Us tomorrow to get to if the bull scenario is playing out.
SPY/QQQ Plan Your Trade For 1-14 : Harami/Inside PatternToday's pattern suggests the markets will stay somewhat flat/sideways related to building a base.
Yesterday, 1-13, my broad cycle patterns suggested the markets would establish a "base" - leading to a "peak" on 1-18 and a major top on 1-20. Because of this, I believe the markets will attempt to melt upward into a peaking pattern (with the SPY possibly reach 595-598) before stalling out ahead of the Inauguration event.
Gold and Silver may follow this trend after stalling a bit today. Overall, I believe Gold & Silver will move upward attempting to hedge against global risk factors playing out over the next 30+ days.
Bitcoin rejected the breakdown move yesterday - setting up another attempt at a THIRD sideways FLAG formation in an EPP pattern. This is very unusual - but given what the markets have been doing over the past 30 days - it is what it is.
More than likely, we'll see Bitcoin rally a bit higher (near $100k), then stall again and attempt another breakdown event.
Yesterday's new low suggests a breakdown is likely.
Get some.
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$SPY Weekly Options | Last Week's Put +185%AMEX:SPY
Our range is $570 to $589 with our entry pivot at $580. For these options, we use 15-30 minute candle CLOSES for confirmation and stop-loss.
📜 $585 CALL 1/27
Entry: Confirmation over $580
Target🎯: $584, $585, $589, $595
📜 $570 PUT 1/27
Entry: Confirmation below $580
Target🎯: $575, $570
SPY Gap Filled - Local Bottom - More SendTrading Fam,
I am not overlooking the small H&S pattern seen on this chart. I am simply presenting alternative data. What if that H&S pattern fails? It can happen. Even if we do drop further, our target down is that pink horizontal trendline. Will we get there before more buying ensues? Possibly. But this market is still bullish. The larger bull trend is still very much in tact.
Additionally, we can see that an important gap has been filled. Therefore, it is very possible that the small H&S pattern we see here will not reach its target down. If that is the case, we'll turn up again, continue through my Target #2 which was already hit, and proceed onward and upward to my final Target #3 (670-700) until that is reached sometime in 2025. Therefore, you are not wrong to start DCA'ing in at this point.
✌️ Stew
$SPY 5DTE viewAMEX:SPY 5DTE view
Ok, so this is the 5DTE View, so for Friday’s contract.
569-592 is this weeks trading range and the election gap is in focus.
The 1 week 35EMA is underneath our trading range and I will go over the in one of the videos this week as to why that is important.
We are also sitting right on top of the 4hr 200MA
SPY Approaches Key Resistance! Will the Bulls Continue? Jan. 14Technical Analysis Overview:
1-Hour Chart:
* Trend: SPY remains in a descending channel but has shown a bounce from the lower trendline near $575.
* Indicators:
* MACD: Shows a bullish crossover, signaling potential upward momentum.
* Stochastic RSI: Indicates overbought conditions, suggesting possible short-term consolidation or pullback.
30-Minute Chart:
* Price Action:
* SPY is testing the $583 level, just below key resistance at $584.
* Volume remains moderate, supporting the recent bounce but lacking a strong breakout signal.
* Pattern: Descending wedge structure, which often leads to bullish breakouts upon confirmation.
Key Levels to Watch:
Support Levels:
* $580: Immediate support zone and HVL (highest volume level).
* $575: Critical support, coinciding with PUT support and the lower boundary of the descending channel.
Resistance Levels:
* $584: Immediate resistance and 2nd CALL Wall.
* $586: Major resistance level aligning with the 3rd CALL Wall and CALL resistance zone.
* $599.7: Previous high and upper channel boundary.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $584: 17.44% (2nd CALL Wall).
* $586: 18.47% (CALL Resistance).
* Negative Gamma Levels (Support):
* $580: Key PUT Wall (-6.87% GEX).
* $575: Highest negative NETGEX and 3rd PUT Wall (-54.41% GEX).
Options Metrics:
* IVR: 29, indicating low implied volatility.
* IVx: 19, well below average, suggesting muted price fluctuations.
* Call/Put Bias: Puts dominate at 7.5%, leaning bearish despite the bounce.
Trade Scenarios:
Bullish Scenario:
* Entry: Break above $584 with volume confirmation.
* Target: $586-$590.
* Stop-Loss: Below $580 to minimize risk.
Bearish Scenario:
* Entry: Rejection at $584 or $586.
* Target: $580-$575.
* Stop-Loss: Above $586 to limit losses.
Directional Bias:
* SPY's bounce from $575 suggests bullish momentum, but significant resistance at $584-$586 could cap gains. A breakout above $586 would likely lead to a retest of $590-$599.
Conclusion:
SPY is consolidating near critical levels, with $584-$586 as immediate resistance. A breakout could lead to further bullish momentum, while a rejection at these levels may push the price back toward $580-$575. Traders should monitor volume and price action closely for confirmation.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
Spy Road To $615 or $565?Well What is it JoeWtrades $615 or $565!!!!
Let Me Be Very Clear $565 is very possible but $615 is even more probable!!! So with that being said and if any of you guys actually watch any of my content I'm a huge advocate For What? Swing Trades lol!! So even if this market decides to test $565 This would make me even more money, How By adding more contracts expiring further out other than my existing march contracts, lets say April May ect. Picking up as the market may or may not attempt $565! So I'm Betting heavy that this market will continue to go up and this is not the start of a Bear Market just yet!!!
In No Time WATCH I will be posting how we smashed $615 Road to $615 In the Near Future lol!!!
So Yes i you want to know Its $615 and yes I'm long Bullish ext lol hope to see you all on the right side,
And be sure to take advantage of my 1 month free gift on patron link below limited number of gifts
As always Goodluck traders and safe trades!!!
As always JoeWtrades
SP500 Mother of all shorts entry point Currently at a critical level as previously mentioned, price filled the gap completely today and the weekly formation is suggesting a form of a consolidation, in case this level holds for the next weekly and price formed any kind of a reversal momentum, i think the sp500 could attempt a final leg up and retest the previously broken support trendlines from below before surrendering to the heavily divergent weekly RSI and take dive lower.
SP500 potential FINAL LEG UP
Currently at a critical level, price filled the gap completely today and the weekly formation is suggesting a form of a consolidation, in case this level holds for the next week and price formed any kind of a reversal momentum, i think the sp500 could attempt a final leg up and retest the previously broken support trendlines from below before surrendering to the heavily divergent weekly RSI and take dive lower.
Some Thoughts on The S&P 500 Right NowIn my new 2025 project, I’m sharing charts with annotations on major risk assets right here.
Since the correction started in December, I’ve been marking key levels on the S&P 500 and have updated the chart again with today’s price action. Comparing today’s levels to the chart from earlier this week, it’s clear that patience has been the right approach. The mapped-out levels have held up, and even Howard Marks has been exploring the possibility of a bubble call. While I don't think that many people calling a top suddenly means a top is coming, actually I sometimes think the opposite, I still take note that people are possibly using this as a moment to adjust positions.
The tax year literally just ended.
A new administration starts in less than 10 days.
Record amounts of cash are still on the sidelines.
The point is, money needs to move, and downward market is the kind of action needed to start this process.
Now, back to the chart above, the market is back in its gap-fill zone, a magnet for prices that often highlights extreme optimism or pessimism in after-hours trading, only to reverse if things have moved too far, too fast.
So here we are on a Friday—no need to rush in. Instead, now is the time to start making lists of your favorite names. The correction has created opportunities, and being prepared is key. I’ll share some of my own picks soon.
This sell-off may even be a healthy rotation heading into the new administration, as markets reposition after the tax season wrap-up in December 2024.
So what does this all mean? If you have cash, stay sharp and ready. If you're long at this moment, I don't see this as the moment to sell. If you're short at this moment, I think you are just shorting in the hole and you missed the move! The chop back upward could be swift.
Best move in a market like this: map out your zones and be patient.
Bull & Bear into the New Year | Week 1 2025 $SPY OptionsAMEX:SPY
Last week, our $585 PUT 1/13 was a killer, producing two daytrades that ran for 50% and 132%!
Here is what we are watching for this week:
We have reclaimed bullish trend and expect consolidation within this range from $584.59 to $607.45. Last two weeks have been low volume and profit taking. We are using this bullish trendline for confirmation using 15-30 minute candle closes.
$601 Call 1/24
Entry: Retest and hold of bullish trendline
Targets 🎯: $599, $601, $603, $608
$590 Put 1/24
Entry: Breakdown and failed retest of trendline
Targets 🎯: $590, $584.59
$SPY #IslandBoy #ComingSoon like $PLTR $TSLA $VFCCrystal ball telling me AMEX:SPY is gonna leave put buyer's stuck on an island in the coming weeks/months.
Higher Lows + Higher Highs = Uptrend intact
I always mention "Shakeout B4 Breakouts"
AMEX:SPY wedge + Election = WallofWorry/Fear (Buy when...?)
Tomorrow could be filled with more "fear" perhaps a vol spike, but I expect/hope for AMEX:SPY to hold this gap down range then Gap up Thorsday and put up a strong gap + hammer candle...
- Prophecies
PS; If looking for recent #Island examples check tickers in title. All recently putting up "Island Reversals" after earnings...
Election = Spy "Earnings"