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SPY trade ideas

SPY's Recovery: Amid Trendline Break for Nov. 20, 2024SPY is displaying a solid recovery after a steep downtrend, breaking key trendlines and reclaiming critical levels. As it inches toward overhead resistance, SPY offers prime setups for scalping and swing trades. Here’s a structured trading plan to navigate its next moves. Market Structure Overview * Trendline Breakout: SPY has broken a descending trendline, indicating a potential shift in sentiment toward bullishness. * Volume Analysis: Rising volume accompanies the breakout, signaling buyer interest at current levels. * Current Price Action: Trading near $591.40, SPY is consolidating just below a significant resistance zone. Liquidity Zones * Demand Zone (Support): $578.00 - $581.00. Buyers have shown strong interest in this area during pullbacks. * Supply Zone (Resistance): $593.00 - $595.00. Sellers may emerge here as it aligns with previous rejection levels. Order Blocks * Bullish Order Block: $578.00 - $580.00. Watch for buying interest if SPY retraces to this zone. * Bearish Order Block: $593.00 - $595.00. This area could serve as a profit-taking zone or short-term resistance. Key Levels * Support Levels: $578.00, $581.00, $583.95. * Resistance Levels: $593.00, $595.00, $600.97. Technical Indicators * 9 EMA & 21 EMA (Hourly): SPY is trading above these levels, confirming short-term bullish momentum. * MACD (Hourly): Bullish crossover with increasing histogram bars, supporting further upward movement. * RSI (Hourly): Near 65, suggesting room for additional upside but nearing overbought territory. Scalping Plan * Entry: Look for pullbacks to $589.00 - $590.00 for a quick scalp with confirmation from bullish candles. * Exit: First target at $592.50, with an extended target at $594.00. * Stop-Loss: Place a tight stop at $588.00 to minimize risk. * Game Plan: Use high-volume breakouts or retests of minor supports as entry signals. Avoid overtrading near resistance levels. Swing Trading Plan * Entry: Accumulate near $578.00 - $581.00 for a medium-term swing trade. * Exit: First target at $595.00, with extended targets at $600.00. * Stop-Loss: Set below $576.00 to protect against further downside. * Game Plan: Monitor for consolidation above $583.95 and use pullbacks for additional entries if momentum persists. Projection SPY is positioned to test $593.00 in the near term, with a breakout opening the door to $595.00 and eventually $600.00. Failure to hold $589.00 could see a retest of $581.00, offering a secondary entry point for longs. My Thoughts SPY’s breakout signals a bullish shift, making it an ideal candidate for both scalpers and swing traders. Scalping opportunities lie between $589.00 and $593.00, while swing traders can capitalize on pullbacks to the $581.00 demand zone. Stay disciplined, and let the price action guide your trades. Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and consult with a financial professional before trading.
AMEX:SPY
by BullBear-Insights
Bull & Bear $SPY Weekly OptionsAMEX:SPY We expect the next two weeks through Thanksgiving to be quiet before we continue on this rally into the end of year through all-time highs. This week we are focusing on the range from $583 up to $598. We have weaker levels at $586 and $591.70. Here are our weekly options contracts for both sides of the trade. For confirmation, we use 15-30 minute candle closes over/under our entry level. $590 CALL 12/2 Entry: Retest Confirmation OVER $586 or $583.56 Targets: ($586), $588, $591 $584 PUT 12/2 Entry: Retest Confirmation UNDER $583.56 Targets: $580.90, Long-term trendline
AMEX:SPY
by PennyBois
SPY Eyeing $600: Scalping & Swing Trade Plan for Monday Nov. 25Listen to the full market overview podcast here: Market Outlook Briefing - Week of Nov. 20, 2024 SPY (S&P 500 ETF) is trading within a well-defined ascending channel, showing bullish momentum as it approaches the critical psychological resistance at $600. With increasing volume and higher lows, the ETF presents actionable opportunities for both scalping and swing trading setups. Below is a structured trading plan with key technical levels, liquidity zones, and entry/exit points. Market Structure: 1. Trend Analysis: SPY remains in an uptrend, forming consistent higher highs (HH) and higher lows (HL). The price is moving within an ascending wedge, indicating a potential breakout or pullback. 2. EMA Signals: The 9 EMA is holding above the 21 EMA on the hourly chart, confirming bullish momentum. 3. Volume: Rising volume near resistance suggests increasing buyer interest, but a breakout requires further confirmation. Key Levels: * Resistance: $596.75, $600, $602.00. * Support: $592.26, $584.63, $581.91. Liquidity Zones: * Demand Zone (Support): $592.00–$593.00, where buyers previously defended the price. This is a key area to watch for pullbacks. * Supply Zone (Resistance): $596.75–$600.00, a critical hurdle where sellers may step in. A breakout above $600 could lead to strong bullish continuation. Price Action Insights: 1. SPY is respecting the ascending channel, with price consolidating near the upper boundary at $596.75. 2. A breakout above $596.75 could trigger a sharp move toward $600 and beyond. However, rejection at this level may lead to a pullback to the mid-channel support near $592.00. 3. MACD shows bullish momentum, but the histogram is flattening, signaling potential consolidation before the next move. Order Blocks: * Bullish Order Block: $592.00–$593.00, where institutional buying is likely to occur on pullbacks. * Bearish Order Block: $596.75–$600.00, where selling pressure has historically capped upward moves. Entry & Exit Suggestions: For Scalping: * Entry: Look for a pullback to $593.00 with bullish confirmation (e.g., rejection wicks or bullish engulfing candles). * Target: $596.50 (partial profits), $600 (final target). * Stop-Loss: Below $592.00 to limit downside risk. For Swing Trade: * Bullish Scenario: * Entry: Above $596.75 on a confirmed breakout with high volume. * Target: $600 (short-term), $602–$605 (extended target). * Stop-Loss: Below $594.00 to protect against a false breakout. * Bearish Scenario: * Entry: Below $592.00 if SPY fails to hold mid-channel support. * Target: $584.63 (first target), $581.91 (extended target). * Stop-Loss: Above $594.00 to minimize risk of early exit. Playbook & Game Plan: 1. Pre-Market Prep: * Highlight $592.00 and $596.75 on your chart. * Monitor pre-market volume and price action to gauge momentum near these levels. 2. Scalping Checklist: * Use the 9 EMA for trend confirmation. * Look for quick trades within the $593–$596.75 range, locking in profits at key levels. 3. Swing Checklist: * Wait for clear breakouts or breakdowns. * Use higher time frame charts to confirm trend direction. * Maintain conservative stop-loss levels to protect against unexpected reversals. Thoughts & Projections: * Bullish Case: If SPY breaks above $596.75 with strong volume, it could rally to $600 and possibly test $602–$605. * Bearish Case: A rejection at $596.75 or breakdown below $592.00 could lead to a retracement to $584.63 or lower. * Consolidation Case: Absent strong catalysts, SPY may range between $592 and $596.75, offering scalping opportunities. Conclusion: SPY is positioned near a critical resistance level, with the potential for significant movement on Monday. A breakout above $596.75 could lead to a strong push toward $600, while a failure to hold $592.00 support may signal a pullback. Both scalpers and swing traders should focus on disciplined execution and proper risk management. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and trade responsibly. For more insights, check out the Market Outlook Podcast .
AMEX:SPY
by BullBear-Insights
BEAR-TRAP : GAP Reversal May Lead To Larger EPP FlaggingPay attention to the dual Excess Phase Peak (EPP) patterns in the SPY this morning and how the current GAP Reversal pattern may resolve as a base/bottom in the markets in early trading. I believe the markets will shift from this early breakdown into a moderate upward (Flagging) trend. Learning to anticipate these types of shifts in the market can help you plan and prepare for future price trend rotations. Knowing the SPY is likely to attempt to base/bottom from a broader EPP pattern (moving into the sideways Flagging stage #2) suggests traders may attempt to prepare for a 0.75% to 1.25% upward price swing over the next 2 to 4+ days. This aggressive downward selling aligned perfectly with my SPY Cycle Patterns. Now, this low may be the Base/Bottom I'm expecting to shift into the FLAGGING phase of the larger EPP pattern (#2). Buckle up. This should be fun. Looks like a BEAR TRAP in the making. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
S&P 500 Market Update Part 2 + Trade Plan AMEX:SPY Greetings everyone, Let’s analyze the recent price action of the S&P 500. I SPY 🕵️with my eye a reversal . The index reached a key milestone, breaking above $600 USD shortly after the US election. However, this achievement was short-lived. After briefly crossing the $600 level, it was quickly rejected, falling back below—a classic case of what traders often call a fakeout or a “look above and fail.” Momentum Shift: A Rollercoaster Analogy Imagine a rollercoaster that has climbed to its peak with tremendous force (the catalyst). The potential energy built up from the climb is unleashed as it starts descending rapidly. Similarly, after a period of intense buying pressure, the market often runs out of steam, stalling and reversing direction—just like our rollercoaster hurtling back downward after reaching its height. What Happened Next? Following the breakout, extreme selling pressure set in, driving prices down sharply. During market hours, the price bounced between highs and lows, showing signs of uncertainty and volatility. Renewed Interest and Its Consequences As the price dipped, confident buyers stepped in, creating a back-and-forth movement akin to a seesaw. This tug-of-war in price action is evident in the bear flag pattern which formed on the chart. While the bear flag doesn’t guarantee further downside, it often signals the potential for continued selling pressure based on historical patterns. What’s next for the S&P 500? I have my long term support target which I expect price may revisit in order to build enough momentum aka buying pressure. For its next major move - whether it’s up once more or continued lower Major Levels: 586 Major SR 591 Strong Resistance as of late 596.89 Zone to consider going long if price renters and holds. Trade Plan: I gave out the trade idea to short if priced Reversed at $600 in my previous market post. Give it a like 👍. If you were able to catch that trade through reading my previous or on your own accord please like or drop a comment on how you executed the trade. Trade Plan Assuming you were trading since 600, I would be de-risk by taking some profit. Setup: 1. Bearish engulfing at major resistance levels & short to the previous lower levels. 2. I would also be looking for a strong reversal at the levels noted to re-enter the short. 3. The end goal is 588.xx + a small margin of error. Thanks, - C Lemard
AMEX:SPYShort
by coilemard
1
SPY in Downtrend: Key Levels and Trade Setups for Nov. 15, 2024Trading Plan and Technical Analysis for SPY Overview SPY has shown a sharp downward trend recently, with price action reflecting bearish momentum. In this setup, I’ll cover important support and resistance levels, supply and demand zones, and potential entry/exit points for both scalping and swing trades. Key Levels Support Zones: $591: This is the immediate support level. A break below this could signal further downside momentum. $585: If SPY fails to hold above $591, this level becomes the next target and is a key zone where buyers may step in. Resistance Zones: $594.34 - $594.96: This area served as previous support and may now act as resistance. A strong push above this range could indicate a potential reversal. $599.16: If SPY can break through $594 with volume, the next significant resistance is around $599. Price Action & Supply/Demand Zones Demand Zone: Between $585 and $591, where SPY may find buying interest if the downward pressure subsides. Supply Zone: The region around $594.34 - $594.96. If price approaches this zone, watch for potential selling or resistance unless there’s a strong breakout. Order Blocks & Market Structure Bearish Order Block: Around $594.34 - $594.96, where sellers previously gained control. This area is a critical level for bears to defend if the downtrend is to continue. Potential Bullish Reversal: If SPY can reclaim and hold above $594.96, it could signal a shift toward bullish sentiment, at least for a short-term bounce. Entry & Exit Suggestions Scalping Entry: For short scalps, look to enter around $591 on breakdowns or quick bounces, targeting $588 with a tight stop above $592. Swing Trade Entry: Consider entering near $585 if SPY reaches this level and shows signs of support, with a potential target around $594.34. Use a stop-loss below $584 to manage risk. Directional Outlook Bearish Scenario: If SPY fails to hold $591, look for further downside, with $585 as the next key target. Bullish Reversal Potential: For a bullish reversal, SPY needs to break above $594.96 with volume. This could lead to a short-term move toward $599.16. Thoughts and Suggestions With the current downtrend, scalpers should focus on quick plays around the support levels. Swing traders may find opportunity if SPY shows signs of strength at $585, but it’s crucial to be cautious until a clearer reversal signal emerges. Disclaimer This analysis is for informational purposes only and should not be considered financial advice. Always do your own research and consult with a financial advisor before making trading decisions.
AMEX:SPY
by BullBear-Insights
2
SPY/QQQ Plan Your Trade For 11-14 : Temp Bottom In Trend ModeToday's pattern suggests the SPY will attempt to continue to flag sideways and slightly higher after finding support in early trading. Watch my video in detail. I go into a lot of longer-term price pattern detail and discuss the post-election setup of my Anomaly Event expectation. As I see the markets right now, they have moved, and continue to move in a direction that is likely to present a very real moderate crisis event over the next 3 to 6+ months. The stronger US Dollar is very likely to put pressure on foreign markets/debt related to the "carry trade" that was abundant before and after COVID. The Trump win is sending the markets into a Super-Predator mode (maybe I'll create a new video about this), where global markets, central banks, and global financial institutions may be at risk related to their long-term debt positions. At this point, The SPY and the QQQ will likely slide into a consolidation phase (a type of FLAGGING related to the broader Excess Phase Peak pattern) over the next 3+ days. Then, I expect the Anomaly Event to start to take shape and for the SPY/QQQ to begin a downward price trend. Gold and Silver are struggling to find a bottom as the US Dollar continues to rally. Don't expect any relief for metals as along as the US Dollar is rallying like this. This is a predatory shift related to global assets and Gold/Silver are going to stay weaker for as long as this shift continues. BTCUSD may rally up to $108k~120k if my research is correct. BTCUSD is in a "rally to the ultimate high" mode based on a very large Weekly Excess Phase Peak pattern. Remember, everything you need to know is already on the price chart. You just have to learn to identify these patterns and spend some time looking around at various intervals to figure out what is going to happen next. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
2
SPY going up after the electionEven though the DAILY indicators have not changed, the 30 minute, the 1 hour and even the 2 hour indicators are shifting to indicate an upward movement. The rest of the hourly and daily indicators will soon follow. (I will post these 30 minute and the 1 hour indicators soon) I am using the Heikin Ashi candlestick as I find you see more of a definite trend on the candlesticks itself. Typically, you would wait to enter the trade until you see 2 green candlesticks. But I am a little bit of a rebel and I already entered today, which will probably come back to bite me in the ass soon! LOL! ;-) I use the MacD, DMI and the Stochastic RSI as my indicators. The SPY will move about 34 points which was the average upward move of the previous months and that hits the fib line of 1.618. I use the fib tool to get a general approximation of the target. So I estimate the target of the SPY at around 602. It will reach that target around November 21st or approximately a 14 day upward move, which has been the average upward move in the previous months. Around November 12th, the market will pause a little before heading back up to reach the target I have laid out as 602. Happy trading everyone!
AMEX:SPYLong
by Princessgirl
SPY/QQQ Plan Your Trade For 11-15: GAP-Reversal Counter-TrendToday's Pattern suggests the SPY will GAP downward at the open and attempt to identify a base/bottom throughout the day. I belive this move may represent a pause in the downward trend, shifting into a FLAGGING pattern as part of a broader Excess Phase Peak pattern. If I'm correct, we are going to move into a moderate BUYing opportunity for the SPY/QQQ lasting into Tuesday/Wednesday of next week. Gold and Silver appear to be setting up a base/bottom off a very deep Phase #5 (Ultimate Low) of a current Excess Phase Peak pattern. This means, if we continue to get confirmation, that Gold and Silver will attempt to move higher and attempt to move into the Phase #3 of the Excess Phase Peak pattern (a move into a consolidation phase). BTCUSD is current exhibiting a dual type of Excess Phase Peak pattern that suggests a broader breakdown is in the works. Possibly back down to 78-82k. This could be a very big contraction event for BTCUSD. Buckle up. Happy Friday. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
1
ALL ROADS LEAD TO $PYI am feeling Bullish Monday for SPY. After the heavy selling on Friday. The 4-hour chart shows a DOJI well stablished by a small green candle that start to show momentum. On the smaller time frame, it is rebounding on the support line at that level. Supporting actions in relation to prediction: 1. Downtrace was not able to push lower than 50% in the FVG. 2. The lowest point once the great FVP was established was 585.43 and was not successfully broken at market close. Instead, it closed with the candle sitting above. 3. NVDA just rebounded at the small trendline created. 4. TSLA just rebounded at my last prediction price of 301 up, creating a sustainable support in that area to uptrend. 5. APPL is respecting a minor trendline within the 195 to 219 and starting to create a cross between 50 and 200 MA. This indication seems that the companies will push the SPY level up next week. If the SPY rejects this analysis I would wait until it reaches the 575/578 area for a push up. (If it goes below of 568 may the market gods be with us.)
AMEX:SPYLong
by soymundo21
$SPY November 16, 2024AMEX:SPY November 16, 2024 For a change target came without much of drama. Could not short the previous day. So had no trade. For the week: 5 Minutes: We had multiple LL and managed to close HL HH pattern. Oscillator divergence can be seen. 9,21, 50 averages converged. So, expecting a bounce to 589 - 592 levels being 100 and 200 averages. 200 averages in 5 minutes could be a good level to short. SL 592.75 being 23.6% retracement for the rise 567.86 to 600.17. 15 Minutes: We can see a consolidation going on last 15 bars or so. Downtrend intact as below 50,100 and 20 averages. Again 590 to 593 represents 50 to 200 average range in 15 minutes too. 60 Minutes. Took support at 200 averages. For the fall 600.17 to 583.86 593-594 is a good level to short. it represents 61.8% of retracement for the fall. Daily: Took support of 21 average in daily. Holding 580 is important to continue uptrend taking the last rise into consideration from 567.89 to 600.17. If 580 is broke next support is 575-576 levels. It also represents 23.6% retracement for the rise 539.44 to 600.17. So next week range is Go long with SL 583.5 for 590-592 as target. or go short below 580 for 576+ as target SL 581.5
AMEX:SPY
by RiderTrader
SPY pullback from $600MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Buying calls on SPXU Buying Puts on SPY Price at or approaching top of channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM spiked positive Price near 4.618 Fibonacci level Buying SPXU or SPY puts when SPY tags $600 Target is $587 or channel bottom NO STOP LOSS Will hold to year end or until target reached
AMEX:SPYShort
by chancethepug
2