SPY and QQQ are ready for the long overdue correction The moment alot of the bears have been waiting for. I think we will finally get a healthy pull back in the indexes. Watch the video for all the reasons why you should be in bear mode for a little while. Short05:07by Mustangsvt281Updated 663
$SPY April 30, 2024AMEX:SPY April 30, 2024 15 Minutes AMEX:SPY opened gap up around 510 levels. But the expected retracement happened only near end of day. It is on sideways between 508-510 levels. If we consider the rise from 493.86 to 507.37 4SPY retraced to 497.5 levels. This is more than 61.8 retracement for the rise. Hence 508-510 sideways going on for consolidation. I have first target as 514 levels once 511 is crossed and close near top of bar. At the moment uptrend intact in 15 minutes as long as 507 +- 0.5 is held. I am supported by AMEX:SPY above 50,100 and 200 moving averages. 9,21 and 50 have converged. Since Elliott oscillator is red and CCI red i expect a small retrace to 506-507 levels before crossing 511. In the event we have a gap up today above 511 I will wait for retracement to 509- 510 levels and take a position only if close of bar is good when it crosses again 511.Longby RiderTrader114
Spy short 3-8% correction or New Bear MarketNew Thread ok everyone our levels for April 21st are Bulls calls over 502.50 price target 504-505 max508 maybe unlikely wouldn't count to much on the upside targets Bears short everything under 502 price targets 495-490-485 and as low as 480 this week my scenario playing out this week is a range 488-500 max this is what I anticipate the week forecast stuck in a range before moving lower in MAY.Shortby JoeWtradesUpdated 183183128
Can SPY stay above the 20DMA?Looks like AMEX:SPY wants to dump, but the Stochastic indicates that bargain hunters and dip buyers are starting to grow impatient Shortby SPY_Trader0
SPY Scalping Zones 4/29Upside Targets: * 510/512.04/514 Downside Targets: * 509.03/507.74/506.66 Daily Trend Tracker - *SPY- Bullish *DXY - Bullish - *VIX - Bearish - *US10Y - Bearish by QuantumEdgeAnalytics5
SPY WEEKLY APRIL 29 2024I have explained the current situation in SPY so trade it very carefully. If you do trade then ge ready to burn your capital. NOTE:STAY AWAY FROM SPY10:51by THECHAARTIST4
SPY Top? *** NOT INVESTING ADVICE*** After taking a look at some of the current monthly charts on the SPY and comparing with some other stocks from within. I believe we may have topped out and are due for a correction potentially targeting the 485 area. I am seeing bearish divergence on th3e daily, monthly, and 3 month charts. Tech earnings continue this week and could send us lower fast if they come in hot. with my eyes on NASDAQ:AAPL in particular. A miss from this company could send us lower, along with NASDAQ:AMD this week as well. FOMC: as for rate cuts, I believe that we will hold steady once again, and will be postponed potentially till Decemeber to reach the 2% area that JPow speaks about. The last inflation reading showed inflation on the rise again but time will tell. *** THIS IS NOT INVESTING ADVICE*** Good luck Trading!Shortby TheTAguy1121
SPY: Bears Will Push Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the SPY pair which is likely to be pushed down by the bears so we will sell! ❤️ Please, support our work with like & comment! ❤️ Shortby UnitedSignals112
SpyThe correction back to the primary trendline has started.. i had to to dust off the 100sma for a lot of stocks and indexes. Overalll technicals tell me we are headed lower than last week lows but a nice dead cat might be here near term. Dow jones Held that 37,800 support all week and finish the week with a break out of its down trend Looking for a short term bounce back to 38,600 if it can get over 38,050 or 100sma. Max upside is 50sma Long term, dow jones looks to be pulling back to 35,500 or primary trend line Qqq weekly chart with fibs.. 407 incoming and a high chance of 395 gap close.. 411-413 closes support for a short term bounce.. weekly 20sma at 425, daily 100sma is at 422.. So any thing over 420 will be tough.. id look to short around 422-425 with 407 target. Heres XLK the biggest tech sector... Headed back to its primary trendline and 184 gap close near weekly 50 sma SMH chip sector (Log scale) Headed to trendline support around 190 similar to XLK.. IXIC (Nasdaq composite) Friday QQQ closed gap at 413.. this same gap on IXIC is at 15,158. 15,158 gap did not get close friday. Yes it will get closed this week but an immediate drop to this level would pull QQQ to 410-411.. Fib levels are from 2022 low and ATH.. 15,158 is at .786 support so we could see a nice bounce there before heading lower. IXIC and QQQ levels are always different the same way Spy and SPX levels are.. Sometimes SPX would close a gap but spy would need another 1.00$ drop to close that same gap, this would then cause SPX to drop further fawking up your entry if you bought the dip . 3black crow weekly candle on a lot of stocks. This candle pattern indicates a fourth red week. Vix on the other hand is showing 3 white knight pattern which indicates a 4th green week ahead. Remember, weekly candles dont have to fulfill until mid to late week.. Core PCE friday could be a major catalyst.. Spy Bulls dont like this channel.. we could see 460 By end of summer. That trendline breakout was indeed a fakeout!. Short term target is 490 gap close Below that and we head to 482 Falling wedge is showing.. If it can breakover, than 505 ,and MAYBE 508 next up The overall trend down, Spy cant even get over smaller time frame moving averages, bears could wait for a pop then load at 505 and reload if it touches 509 with a stop out above 510.. Mid may EXP Shortby ContraryTraderUpdated 191973
SPY falls out of its channel on geopolitical risk SHORTSPY on the 2H chart shows the past six months of trend. SPY has been in an ascending channel but fall out of the channel. Iran's ambition to retliate against Israel and the movement of US NAVY warships into the the Middle East raises concerrn as does "sticky inflation" and early earnings reports from big banks. On the chart, trend angle analysis suggests the SPY may be topping or correcting its ascend. The shorter VWAP line are more flat than the longest VWAP line. I see this as impetus to further implement my hedging strategy with conviction and discipline. I can easily appreciate that SPY could pullback to 490 ( the middle anchored VWAP line) and easily could pullback into 465 as a standard Fibonacci retracement. Obviously fundamentals can trump technicals. Geopolitical risk is significant can easily trump both of them. I find good cause to hedge with inverses of ETFs of the indices and inverse ETFs for technical stocks, and perhaps banks, financial stocks and bonds as a means to buffer any fall my long positions moving forward.Shortby AwesomeAvaniUpdated 2
$SPY April 28,2024AMEX:SPY April 28,2024 15 Minutes. For the fall 519.47 to 493.86 AMEX:SPY has retraced to 61.8% levels around 519.5 levels. Hence long only above 514-515 levels. For the rise from 493.86 to 509.88 AMEX:SPY need to hold around 500 levels. For the last rise 497.49 to 509.88 $ AMEX:SPY need to hold 502 levels. Therefore, a retrace to 500-502 levels will result in 508-510 levels by which time the moving averages will converge. Also 502 is 200 averages in 15 minutes. For the week I expect AMEX:SPY between 502 to 510 levels with a bias to 514 levels if 510 is crossed. On Monday a retracement to 505-506 levels will give an opportunity to long if close of first bar is near top of bar, assuming we open around 507 levels, which happens to be 61.8% for the gap up rise 505.7 to 509.86. If gaps are not filled, then trend is strong on upside. Longby RiderTrader117
Possible supportI have tried to highlight possible support areas if a down trend starts by jammybitsUpdated 0
SPY: Week of April 22Hey everyone, Wasn't going to post actually, despite promising haha. The chart is very unclear, there are no HA indications of direction and I am not a strong believer in trendlines (Which is why I completely ignored the major trendline in my last week idea when i said SPY was going to 504, had I cared about it, I would have been bullish, so you see the problems with these pesky trendlines). So this idea is 100% based on my little computer models. SO here is what it says: Going into Monday, it's expecting some pronounced bullishness (I would guess, not the model but me myself, that it's simply a DCB). Retracement of 497 is almost a given. There is a strong favouring of a rangey preference on the week with an over-arching bearish bias. This means, expect no major move until catalysts. What are the catalysts? A ton of mag 7 earnings coming up. 490 is PL2 on the 3 month. Mean reversion since SPY's nassence is being placed at 480 using quadratic regression. So this is an area I would watch very very closely if we can get to. Don't expect as profound of moves as last week because the range being predicted is extremely narrow. Unless we get some massive disappointments in earnings or some other catastrophic thing happens, its just not likely that we see further extreme downside this week (at least, according to the projections). Now for my opinion: 480 is a great mean. PL3 or the bottom of the 3 month range is below 480. If we fall out of the three month range (meaning we fall below around 477) this would be signs of an impending bearish market. However, if we manage to stay within the range and bounce anywhere between 480 to 490, bull market back on and we are making a move to 532. Those are my thoughts, safe trades everyone! by SteverstevesUpdated 202063
$SPY bounced of resistance againLooks like AMEX:SPY will go down after bouncing off the 20 DMA. Bears rejoice!Shortby SPY_Trader221
heading to 420 looking to short 180 days out to 90 days out i think we will see but see a another touch up to area OF B before going to 420Shortby cw1sss1
Market Direction using SPY historical trend patternsFrom a technical perspective, there hasn't been a definitive signal indicating a trend reversal for the SPY 500. Back in May to October 2023, the SPY exhibited a clear "M" pattern or double top, experiencing a drop of approximately 5%, retracing back, and then dropping around 10%, forming the M pattern. If we compare this M pattern with the current price action, we observe a striking resemblance in the market behavior, as the price retraces from a similar percentage drop of around 5%. The question arises: Is the market genuinely recovering, or are we merely witnessing the formation of another M-shaped pattern! by MESHANL3311
Spy is at breaking Point 470$ coming if it dont go above 512$ then we can see 470$ coming month.Shortby stocktrendcheck1985113
SPY THIS WEEKWe should stay in 502-508 range today, consolidate. First move in the morning could be down. 508 is a strong resistance. I am wondering if we do another leg down or do V. Usually ACB should have another leg, but the move yesterday was strong, so I am 50/50 sitting on the fence.by abigreen3
$SPY should be a big dumpBollinger Bands and Stochastic are suggesting that downward movement in AMEX:SPYby SPY_Trader4
$SPY April 26, 2024AMEX:SPY April 26, 2024 15 Minutes. The expected long was nullified by gap down. But AMEX:SPY managed to close near 502 levels. Now we have all moving averages consolidated together. I have Elliott oscillator green, CCI green and stochastics above 75 with no black bar on top. Now for the rise from 493.86 to 507.37 AMEX:SPY retraced more than 61.8%. Also, we have multiple resistance around 506 levels in chart as it can be seen. For the fall from 515.30 to 493.86 we have 61.8% retracement around 507 levels. I expect AMEX:SPY to be in the range 507 to 510 on upside today, provided it holds 502 levels. If that happens then we can assume AMEX:SPY managed to hold 100 days in daily and 21 in weekly, there by setting up a buy above 515 levels for next week. I will go long only above 514 - 515 levels. For the day as moving averages have converged, if AMEX:SPY opened gap up I will wait for first 15 minutes, and if close of bar is near low I will short for 503-504 as targets provided the gap open is around 507 to 510 levels with SL high of bar or 511. The reason is for the fall 524 to 493, 512 is approximately 61.8% of retracement for the fall. Hence I have a buy only above 514 levels.by RiderTrader3
Dead cat bounce....?I see the bulls in the market attempting to cause us bears to panic. I believe this will be a short term "rally" that will only be the continuation of the downside trend.Shortby darriusnorton1115
$SPY 4hr double bottom could push it to trend/monthly resistancePossible double bottom here. Watching for a continued push to the trend line and major monthly resistance. Longby Delli221
Possible H&S on 15minI am out for now. if we reach 502.50 SPY may be making right shoulder. However, There is that massive gap that needs to be filled so it may be just a quick scalp. by abigreenUpdated 4