SPY bearish pattern forming...targeting 460 levelSPY is forming bearish level, could be double top or a rising wedge...Shortby rshandilya3
Donald Trump won't let SPY dumpIt's totally rigged, and this proves it. AMEX:SPY should be on the ground right now, but it's near ATH.Shortby SPY_Trader2
S&P Bulls prove their controlThe strong close last week indicates a shift in control to the buyers. They managed to close above the previous week’s high, establishing a weekly higher low and confirming the daily uptrend. Currently, the bulls have control across all key timeframes: the price is trending upward on the hourly, daily, weekly, and monthly charts. The only challenge they face is on the monthly timeframe, where bears have initiated consolidation; however, this is not a critical issue. It's plausible that the bulls might either retrace the entire bearish wave or, more likely, close May as an inside bar, setting a price equilibrium that could persist throughout the summer. Given this scenario, the current position might not be ideal for a long entry since we are in the middle of April’s range. If you're considering buying, it would be wiser to wait for a pullback that could provide a more favorable opportunity. Disclaimer I don't give trading or investing advice, just sharing my thoughts.Longby hermes_trismeUpdated 5
$SPY May 10, 2024AMEX:SPY May 10, 2024 15 Minutes. Holding 516, (yesterday low was 516.70) 520 target was achieved. At the moment i have 2 issues. Positive is uptrend, above all moving averages, Stochastic black bar on top, did not become red on any pullbacks, Elloitt oscillator green and CCI green. Negative is Elliott oscillator divergence (price making higher but not oscillator) and too far away from 200 moving averages. My plan is: Consider the last rise 518.34 to 520.2, holding 519 I have a target 523 - 524. And if 518 is broken on downside I will short for a target 517 - 515 which is 38.2 retracement for the rise 508.56 to 520.2 and also 23.6% retracement for the rise 499.55 to 520.2 and 517 is 100 averages. 518 is important as breaking will nullify the HL HH pattern being formed now. That retrace should allow the 200 averages to catch up at 514-515 levels allowing us to go long for the next uptrend above 524. Since I trade on moving averages my bias is on reversal to 515-517 levels. Shortby RiderTrader228
SPY: Week of April 15Last week I just did a longer timeframe update. I am going to continue with the larger timeframe as the focus but will also give the shorter timeframe levels for next week. You can see we've just chilled below the 3 month threshold for far too long. It's 504 on the horizon, that's for sure. We will likely snag a bit lower, because I didn't realize there was this giant daily gap on SPY that stems down to 497 (its the purple box in the chart). A gap fill doesn't require us to hit PL2 on the 3 month, but it does require us to hit PL1 on the 3 month, (504). Some pretty bearish readings registered for next week, and likely going to kick off right off the bat into Monday based on the daily outlook assessment. The weekly levels to watch are here: Would be nice to just get to the point, get into that gap zone and then we head back to 532. We'll see how eager it is to just get it done. The selling is pretty controlled with too many eager and early bulls. This makes for PA that is dreadfully terrible with its slow pace and choppy grind down. If we manage a gap fill it will just be back to straight up. For next week, look for 504 and below. Long zone is between 497 - 503.90. If we can get some selling catalysts we can probably increase the velocity and just get it done early next week and reverse into mid to end of week. Remember, probability is indicating a particularly bearish start to the week on Monday so just be careful you permabulls ;). Those are my thoughts! Safe trades! by SteverstevesUpdated 191942
🚨$SPY May 10 500c 7.97 to 19.97 150%🚨 AMEX:SPY May 10 500c 7.97 to 19.97 150% Over 1k made on this SIMPLE Options plays. When we take the 618 Fibonacci pullbacks and GAP FILLS we get Options for DEALS because we BUY CALLS when the Market is TANKING! by tradingwarzone0
$SPY -Uh oh Stinky Bears about to go to work on $SPY. Sold some ATM 519 calls for June 21 expiration, 43 DTE Shortby SPY_Trader111
SPY LongSPY has been ripping through all resistance levels since bottoming out in April. VX continues to decay. We're not getting much volume and conditions have been choppy, but if SPY can break yesterday's high and hold on a retest, we could see a rally back to $520.Longby AdvancedPlays2
SPY Analysis to todaySPY Analysis ==================== 1. Price is showing Weakness as it is moving upward 2. Until it breaks 520.05, we expect a Range bound 3. Sideways possible between 512 and 520by Alpha_Analyst100
$SPY Analysis, Key Levels and Targets for Day TradersTomorrow's Trading Range (5.9.24) and all of the levels going through it. by SPYder_QQQueen_Trading225
$SPY May 9,2024AMEX:SPY May 9,2024 15 Minutes. No trade day. Neither the sell below nor buy above was triggered. Uptrend looks like getting sorted out. AMEX:SPY has moved from 503 to 518 levels. And yesterday gap down open after 3 days of gap up did not hold. The first in 15 minutes gap down had close near top of bar and never broke the low during the day. We have 100 averages at 515 levels. So, for the day considering the last rise from 515.15 to 517.72, holding 516 levels I have a target 519 520 initially. I am still of the view more upside is possible only if we get a good close above 520 levels in 15 minutes. At the moment we have 9,21 and 50averagres converged and 100 averages around 515 levels to give support. Longby RiderTrader222
A little perspective on Bear Markets. What people don't realize.They can last years, and take over a decade to recover from. Scary right? Proper portfolio, and trading management is essential for not only survival, but also being able to thrive in that environment.by eb8Updated 440
SPY Compare IWM What's gonna happen ?To me SPY will come down to meet IWM. Not other way around why 1.National Debt 2 High Rates longer 3 Inflation 4 Economy no growth job lays off stop believing jobs report its a lie all that is in the charts. that's just a few every time guys they print to get market up that causes inflation Shortby john123
SP500, TAKE THE PAST AND SEE THE FUTURE?So, this is a slightly different look of another chart. Basically, we might be seeing this play out in real time. This pattern is scary where the price currently sits. and to where it can head. What is the pattern? Trace 2018 to Covid and then into recovery and correction. Bring that to the current move, pattern, wave... whatever you want to call it. It's close, not exact, but close, and close enough that it can't be completely thrown out as an idea. But that's all guessing based on a pattern, which is dumb. So, what do we know. We can see numbers projected to 600. We can see numbers projected to 200. We can see multiple gaps on the downside. We can see multiple stocks at their highs. We can see multiple stocks moving some 10% or more on earnings with price movements that don't quite make sense. We know there are two massive support trends (I just made the one) because of how close they are to each other. We've been seeing stocks break down past massive support trends, and then when all hope is lost, a huge return. We know statistically, gaps almost always close, and in a similar way of thinking, most impulse moves retrace a little over 100% (this gives no indication of the timing of a move, could be days, weeks, months, years...) We can see certain indicators starting to flash some bearish signals. We can see there might be another exit pump but we can't really know. We can see, charts are quite overextended from COVID lows. We know the election is around the corner. We know how bad a "down" market or market crash can look for a sitting president. We know more support comes in at 4780, 4360, 3800, 3300, 2900, 2500, 2200. I'm sure if you look hard enough, you'd find evidence that supports both a bullish and bearish projection on the s&p500, which is good. Take in all the info you can. Don't believe my garbage chart, but also, I wouldn't completely skip it. Longby nicktussing77Updated 1
Expired SPY Weekly outlook. 2nd WK MAY 2024Expired SPY Weekly outlook. 2nd WK MAY 2024 > NEUTRAL 📊 CORRECT Closed Price: 511.29 Target Price: 512.94 | Strike Price: 518.48 MAY7 24' Upper Range: 518.96 Lower Range: 506.92 Longby putIQ1
SPY - SHORTSPY SHORT, If we top here, Ive entered into puts this afternoon, looking to touch 50% horizontal retracement at LEAST. Will take most profit at the PoC just incase.Shortby SPYDERMARKETUpdated 222
$SPY May 8 ,2024AMEX:SPY May 8 ,2024 15 Minutes. As expected, AMEX:SPY was in sideways. Forming a HH, HL pattern. For the last rise from 514.89 to 518.87 it retraced 61.8% yesterday around 516.5 levels. So, for the day I will buy above 518.6 and sell below 515.6 for a target 513.5 to 514. I expect a move only above 520 at the moment. Need to cross the 519-520 resistance. We are having an oscillator divergence; price is making higher while oscillator making lows. Yesterday gap open was not sustained and the gap was closed. by RiderTrader556
SPY $ 580 Stagflation1. **Supply shocks**: Sudden increase in the cost of essential raw materials, such as oil or metals. 2. **Restrictive economic policies**: Excessive regulations or policies that distort the labor and goods markets. 3. **Engrained inflationary expectations**: Upward wage and price adjustments in anticipation of future inflation. 4. **Structural unemployment caused by AI and automation**: Loss of jobs due to the replacement of workers with advanced technologies. 5. **Expansive fiscal policies**: Excessive public spending that exceeds the productive capacity of the economy. 6. **Weakness in productivity**: Insufficient investments in technology or human capital that limit economic growth. 7. **Imported inflationary pressures**: Importation of inflation through foreign goods and services or currency depreciation. 8. **Increase in labor costs**: Increases in labor costs that are not aligned with improvements in productivity. 9. **Trade barriers and protectionism**: Tariffs and quotas that increase import costs and decrease global economic efficiency.Longby Ozy_Target2
SPY Long SPY is looking quite bullish for now, just broke above a bear flag it had been forming and filled a gap near $517 today, I'm expecting a push up to the $520 area if this and VX weakness continues. I'll be looking for it to retest that bear flag for an entry.Longby AdvancedPlays2
SPY - here comes the dumpLittle dead cat bounce is just about over, as you can see AMEX:SPY bouncing off the upper Bollinger band. The stochastic indicates profit taking too.Shortby SPY_Trader224
SPY short SPY created a weekly sell model, we targeting the low. Ideal area is going to be $460-480. All we did was a bearish retest and filled the -FVG and nuke. Shortby Scamwick692
$SPY May 7,2024AMEX:SPY May 7,2024 15 Minutes. AMEX:SPY managed to stay above 510 levels. Now we have 100 and 200 also near 510 levels. Now holding 513 levels uptrend intact. 513 is the 61.8 % retracement for the fall 524.61 to 493.86. 510 is important because it is 38.2% retracement for the rise 599.55 to 516.61. For the day holding 514 levels i have a target 518-519 levels. This is the number from April 11, we saw AMEX:SPY going all the way down 493 levels. So, I expect some resistance around 519-520 levels. I am going long around 515-515.6 levels for 519 SL 513 - 512.5. The retracement to 515 - 515.6 is due to oscillator divergence in 15 minutes. For two days we had a gap up we need to sort out the divergence.Longby RiderTrader2