$SPY TomorrowAMEX:SPY looking bearish for tomorrow. With the sell off after MSFT and META earnings, markets might bias to the downside tomorrow.
SPY trade ideas
SPY 600+?According to Elliot Wave Theory, Chart Patterns, and Analysis of the option chains, SPY could potentially reach 600+ before long.
Looking at Elliot Wave Theory:
Currently price is in Wave #4. In EW, Wave #4 characteristics are opposite of Wave #2. Wave #2 in this cycle was short, so expect price to take a little longer to breakout, which brings us to the next observation:
Chart Patterns:
Price is starting to form an expanding descending wedge (or megaphone), a variation of a flag. Generally in these formations, price is volatile and the formation can hold in tact for a decent length of time. That being said, it’s the perfect scenario for a long Wave #4. When price touches the bottom trendline for the third time, look to go long a month out.
Option Chain:
January Contracts - neutral.
November Contracts - bearish (just a hedge for tech earnings)
In the options chain, a neutral or balanced chain means the market is bullish. When an inordinate amount of puts are bought, it generally means institutions are hedging their portfolios when markets turn volatile. (Earnings will definitely do that)
Recap: Looking to go long once this formation breaks upwards for the afore mentioned reasons. If something changes, I’ll update this. (We can’t be married to our opinions)
Ride Wave #5 with me.
Double Bull Flags on an Ascending Triangle breakout on the dailyDaily, double Bull Flag, on top of an Ascending Triangle Breakout. Golden Pocket on the Fib Ext is $588 🥂
SPY - Gann and Fibonacci SPY is sincerely following Gann and Fibonacci Tool towards Nov 29th.
Let's see if it push to the red zone or break below of it, wait and watch.
Ascending ChannelBased on the chart, the current trend appears bullish but shows signs of potential consolidation or hesitation near the upper resistance. Here are key observations:
Upward Channel: The price is moving within an ascending channel, generally a bullish signal, as it reflects a series of higher highs and higher lows.
Consolidation Near Resistance: The price action near the top of the channel suggests consolidation. This could indicate a bullish continuation if it breaks above resistance, but if it fails to do so, there could be a bearish reversal down to the support trendline.
Election Date Impact: The November 5th marker might act as a catalyst. If uncertainty or risk increases around the election, we might see more volatility, potentially breaking out of this channel.
For now, the trend remains bullish within the channel, but keep an eye on resistance and how the price behaves as it approaches that key date. A breakout would be bullish, while a reversal could signal a short-term bearish move.
Framing of my routine on 5min 15min drawings of 10/30/2024Using Today chart as example. We see pullback test at 5min ORB high.
showing respect to prev breakout price!
good news for bulls!
and 5min also held the (S),
by rejection of closing back above (S) on the 2nd candle.
showing us a fakeout, tricked some impatient bears.wasted BP. sad.
SPY/QQQ Plan Your Trade For 10-30 : GapUp-Higher PatternToday's pattern suggests the markets will attempt to GAP higher at the open, then continue to trend upward throughout the day.
I go into great detail in this video trying to highlight the setups and constructs of price for my followers.
We are moving into a very volatile period for the markets with what I believe will be a low liquidity event taking place throughout the election. My thoughts are that liquidity will dry up later this week and early next week before the election day (we also have a Holiday on Monday).
So, if my analysis is correct, we are going to be looking for the US and global markets to clearly illustrate extreme anticipation/fear related to who the US will elect.
That should translate into extreme potential market volatility.
I urge traders to watch this video (and some of my more recent videos). Now is the time to prepare for this extreme market volatility and to learn to PULL AWAY from risks.
There is no reason to be trading like normal throughout this event. By late today or late tomorrow, you should really ask yourself "how much are you willing to risk throughout the election event and long weekend".
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
$SPY October 30, 2024AMEX:SPY October 30, 2024
15 Minutes.
Shorts closed at open gap down.
So, 578 579 managed to hold.
Nowe this box needs to get sorted out.
Sideways till then
For the day The rise 578.43 to 582.91 580 needs to hold for uptrend to continue.
On downside if 578 is broken and close of bar near low 575-576 is the low I see. So not worth shorting. At the moment.
Long is still above 585 for me.
SPY Technical Analysis for Oct. 30, 2024Technical Analysis
Resistance Levels:
585.26: This level represents a recent high and serves as a short-term resistance. If SPY breaks and holds above this, it could lead to further bullish momentum.
584.44 and 583.05: These are additional resistance zones, highlighted in red, which could act as potential selling zones if SPY approaches them.
Support Levels:
582.98: This support level has held several times, indicating it’s an area of buying interest. A breakdown below this could indicate bearish sentiment.
578.46 and 577.61: These lower support zones could come into play if SPY sees increased selling pressure, providing areas to watch for a possible bounce.
Trendlines and Patterns:
The downward-sloping trendline is broken, suggesting a shift from bearish to bullish sentiment, at least temporarily.
A consolidation zone around 580-582 (marked in green) indicates a demand zone where buyers have previously stepped in. This could act as a key support if SPY retraces.
Volume Analysis:
Volume has shown some spikes near the resistance levels, indicating that traders are actively watching these levels. If SPY approaches these levels with high volume, it might either push through or face strong resistance.
Momentum Indicators:
The momentum indicator below the price chart is beginning to show bullish divergence, indicating that momentum may be shifting in favor of the bulls. This is supportive of a potential continuation to the upside, but it would require confirmation by holding above key support zones.
Directional Thoughts
For tomorrow:
Bullish Scenario: If SPY opens above 583.05 and holds, it could attempt to test the 585.26 resistance. A strong breakout above 585.26 with volume might lead to further bullish moves.
Bearish Scenario: A drop below 582.98 might lead to a retest of the 580.83 support level. A failure to hold above this could see SPY move towards the 578.46 level.
Given the broken downtrend and initial signs of bullish momentum, I’m leaning toward a bullish outlook for tomorrow as long as SPY stays above the key 582.98 level. Watch for entry points near support and potential targets at resistance levels.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and you should consult with a financial advisor to ensure it aligns with your individual circumstances. Always do your own research before making any trading decisions.
Spy idea Massive Macd divergence . I think tomorrow it gaps up but will quickly vanish . I expect 575 then 566 targets in November . We will see if this structure fails and spy goes up but even if it does as high as588 it will fall back down to support . That’s what I think bought a put option today at close for end of November
Chop, Chop, Chop!!! ES/SPY Weekly Analysis!It’s Tuesday’s and SPY and ES are still awaiting a breakout. Price action has been very choppy the past few days, with no clear sign of direction. We notice that ES has a 2HR FVG above at 5910. Once ES fills this gap, we could be ready to break out and continue up, forming new all time highs. But keep in mind we could also hit our heads at that level and fall back down.
Looking at SPY on the daily chart, we notice that SPY has a wick left in a daily FVG below at 573. This is usually an indicator that price action will want to come back down at some point. Timing it is key, while also remaining patient for the right set-up to reveal itself.
This Friday is Non-Farm Employment Change. A time when the markets can produce some really volatile moves. As we are approaching Friday, we are studying the candlesticks to see how they form patterns, signaling the upcoming break-out. We have been trading in a tight range on SPY from about 585 to 580, with a few wicks dipping its toes into the 578 area.
This week closes with Non-Farm Employment Change, and next week closes with a new U.S President and new federal finds rate. We are not yet sure which event will be the catalyst to the breakout, either up or down. These events will cause a lot of emotions and possible volatility in the markets, so it really could go either way.
Tonight when ES opened back up this evening, we see how it gapped up. A gap up usually means an immediate pullback. Once price action comes down to fill the gap, we would need price to stay down if it were to continue to fall. If we find support then it’s possible we could chop a bit longer, or make our way to the upside!
SPY Topping: Circle Theory?Been trying circular "TA" on a few different stocks, and trying out this pattern I started using and seeing results from w/ GME.
Seen here using GME:
How my chart look, using (S)&(R) with OrbFib. Open~Close.When Market open:
1) wait 5min close to draw Orb Fibonacci(0%,0.5%1.0%,1.5%,2%)
wait 15min to close to draw Orb Fib.
2) Keep looks for (S) anf (R) to draw after 5min&15min candles close.
3)use (Support)&(Resistance) from your "drawing" and (Support)&(Resistance) from "Orb Fib" levels to CALCULATE your Risk to decide where is to enter trade.
Sniping tips: Entry signal look for (S) or (R) pullback rejection by bouncing the level of (S)/(R),
Reason is bc it show solid respect to that specific (S) or (R).ITo me it's an area that Price is not ready to break over/under yet.
That will allow you time use that current new (S)/(R) rejection entry to aim that prev (S)/(R)!
and Possibly break out of that too, just make sure you are following the bigger picture trend!
SPY/QQQ Plan Your Trade Update For 10-29 : Ripper Apex BreakoutThis short video highlights the Apex Volatility breakout in the SPY today and shows the ripper rally in Gold & Bitcoin.
If you've been following my research, you already know I called these moves many days ago.
If you are new to my videos, this is an excellent way for you to see what I do, learn from my videos, and attempt to see now my research fits into your trading style.
My single goal is to make you a better trader - and I hope I'm doing that with all the content I provide.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
SPY WAVE 4 low is in place wave 5 target 593I have now moved to 75 % long dec 565 calls target for wave 5 min 592.5 and as high as 600 see chart as we just hit target in the 10 yr to the tick we are at the trend line and put/call is very high a good long here best of trades WAVETIMER
SPY Technical Analysis on October 29, 20241. Chart Patterns and Price Action:
Descending Triangle: SPY is forming a descending triangle pattern with lower highs, which typically suggests bearish pressure. A break below the triangle support could indicate a bearish continuation.
Downtrend: The chart shows lower highs and lower lows, confirming a short-term downtrend.
2. Support and Resistance Levels:
Immediate Resistance Levels:
579.80 - 582.98: This zone represents a resistance cluster, where SPY has faced selling pressure in previous sessions.
584.44 - 585.39: If SPY breaks above the immediate resistance, this higher level may act as another cap.
Support Levels:
577.61: Immediate support, where SPY might find buyers if it dips early in the session.
574.41: A key support level; a break below this could indicate increased selling pressure.
3. MACD and Volume Analysis:
MACD: Currently showing minor divergence near the zero line, signaling potential indecision. Watch for a clear crossover to gauge momentum.
Volume: Volume spikes align with sharp moves. The last session’s volume decrease suggests a possible consolidation before a decisive move.
4. Scalping Strategy for Today:
Entry Points:
Long Entry: Around 577.61 if it shows a strong bounce with volume. Confirm price action for a reversal before entering.
Short Entry: Below 574.41 if it breaks with high volume, targeting lower levels or trailing the stop.
Exit Points:
Long Exit: Near 579.80 - 582.98 resistance zone.
Short Exit: Consider taking profits near 574.41 or lower if momentum continues.
Stop-Loss: Place stop-loss slightly below 577.61 for long positions and above 579.80 for short positions.
5. Swing Trade Analysis:
Directional Bias at Open: Likely a bearish open if it remains below 577.61. A test of this support zone may lead to a bounce if buyers step in, but a failure here suggests further downside.
Intraday Movement:
If SPY breaks above 579.80, a rally toward 582.98 could be in play, offering a short-term bullish setup.
Below 574.41, downside continuation with 570 as a possible intraday target.
Close Expectations: Potential bearish close if it fails to reclaim 579.80. A break below 574.41 could indicate bearish continuation for the following days.
6. Key Levels Summary:
Support Zones: 577.61, 574.41
Resistance Zones: 579.80, 582.98, 584.44-585.39
Disclaimer:
This analysis is for informational purposes only and not financial advice. Trading involves risk, and past performance is not indicative of future results. Always do your own research and consider consulting a financial advisor.
$SPY Analysis, Key Levels & Targets for 10.29.24AMEX:SPY Analysis, Key Levels & Targets for 10.29.24
Alright, y’all…. So I am still sick so no videos until this get’s cleared up.
But here is the chart for today.
I feel good enough to maybe trade today but still kind of Meh… LOL…. I don’t get sick often and MAN this stinks.
Previous support (580) is right at the bottom of the gap we opened yesterday
35EMA is still above the 30min 200MA. ATH’s are at the top of the implied move for tomorrow.
Under 580 the next support is 575 and a 1hr 200MA coming up as well.
Honestly looks fun!!
Weekly Options: Range Bound and Prepped for Both Up or DownAMEX:SPY
AMEX:SPY is currently consolidating between a key support level and long-term trend support, hovering in the $580.90 - $583.60 range. The market's short-sighted focus on upcoming major tech earnings and elections has kept price movement tight. We’re positioned at a crucial point that could either send AMEX:SPY surging to new all-time highs or testing the daily 21 EMA for support. While our bias leans bullish, the downside trade presents a hedge opportunity, especially valuable for tech-heavy portfolios.
Our Weekly Options 💡:
📉 $577 PUT 11/6
Entry: Confirmed 15-30 minute close under $580.90 with a retest rejection
🎯: $578, $576, $574.73
📈 $582 CALL 11/6 (Consider Call Debit Spread to lower cost: $584 STO | $582 BTO)
Entry: Confirmed 15-30 minute close over $580.90 and trend support
🎯: $582, $583.60
Stay prepared for a potential breakout or breakdown with these setups, and let the chart confirm the direction.
SPY - Still Bullish?AMEX:SPY - SPDR S&P 500 ETF - just keeps moving up. Price is about 10% away from price target #3 of $623. Price has been moving as if an algorithm is controlling it. When it hits the topside trend line it seem to drop down to the 100 day EMA(blue line). Then it pushes back up. This is one to watch!
SPY/QQQ Plan Your Trade For 10-29 : Gap Defender PatternToday's SPY Cycle Pattern is a Gap Defender in Counter Trend mode.
Even though I forgot to show you the pattern page in this video, today's video suggests the SPY will attempt to protect and defend yesterday's opening gap price range - possibly attempting to move a bit higher as I predicted.
With Bitcoin rallying away from the consolidation range, I see this as a "move to hedge against fear". I believe Gold and Silver could make a strong move higher as this hedging moves across all fear-base hedge assets.
Additionally, both presidential candidates support renewed legislation for Bitcoin & Cryptos in the US - so either way I believe the digital currency world is ready for US involvement.
Right now, I see the markets as trying to make a "last gasp effort" at a rally into Wednesday. Then, I believe the markets will roll into a broad contraction phase setting up just before the election as liquidity vanishes from the markets.
Price volatility should be EXTREME between Nov 1 and Nov 6.
Play the next 2 weeks very smart. Otherwise, your lumps could be painful.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Spy Road To 600Hello Fellow Traders If you have been following the previous threads I post on View You Will See Our Price Targets Are In Effect!! We have been following them pretty well, lets continue Bullish Price Targets $588 In Coming Shortly Follow chart below for confirmations Election 10 days away
$SPY October 29, 2024AMEX:SPY October 29, 2024
15 Minutes
For the fall 586.12 to 574.41 AMEX:SPY retraced 78%. Hence, I expect only a double bottom for this move.
For the rise 574.41 to 584.46 AMEX:SPY retraced 61.8%.
So, holding 576 uptrends to continue.
In 60 minutes 575-576 is 200 averages.
So, the shorts initiated yesterday will be covered at 579. If I get a lower. I am lucky.
SL at 582 for a zero trade.
At the moment I expect 579 or 575 to provide a good support.
Long is still above 585 only.
I am usually negative bias as long as AMEX:SPY is below moving averages especially 200 or 100 in 15 minutes.
Nightly $SPY Prediction for 10.29.2024⏰8:30am
Goods Trade Balance
Prelim Wholesale Inventories m/m
⏰9:00am
S&P/CS Composite-20 HPI y/y
HPI m/m
⏰10:00am
CB Consumer Confidence
JOLTS Job Openings
#trading #stock #stockmarket #today #swingtrading #charting #investing
