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$SPY Tomorrow's Trading Range in SPY 9.6.24 All right, guys, tomorrow we have the unemployment rate in premarket, as well as the hourly wages report. As of now, we're right in the gap that opened when the consumer spending data was released last month, sitting at the 50-day moving average . Momentum from premarket reports will be huge. Directly above us, we have the 35 EMA, which has been resistance for the entire week—that's the red line just above where we opened. If we get above that, the first level of resistance is around 554, which we've tested twice earlier this week. The top of the implied move is at 556, with Monday's contract at 558, and at the very top of the implied move for the next two days, we have the 30-minute 200 average. We’re on this timeframe, so consider that as a key resistance point. At the very top, completely above our trading range for tomorrow, is the gap we started the week with, which pushed us away from all-time highs. To the downside, we have the one-hour 200 moving average, which we bounced on today. Beneath that lies the rest of the consumer spending gap. The bottom of the implied move for tomorrow is 543, and for Monday’s contract, it's 541. Underneath all of that, we have the four-hour moving average. Let me know how you plan on playing this. Good luck, and see you guys on Sunday night.
AMEX:SPY
by SPYder_QQQueen_Trading
Spy Targets is Adam & Eve Double Top StandsHi Traders, Man this market has been crazy... I haven't had a good track record lately but always remember I do this for fun... and we are human and can't get them all right. I try many different things so anyone who says oh thats stupid or you got it wrong..sure... but many I did get right as well. Well this newest one is my down targets if employment data comes in bad tomorrow...mean if it doesn't hit projections... Last month this data was weak and the market sold off with the biggest vix launch for a long time. I think this market needs to come down... we are really high and bad data could send us on our way...and make the fed do a .5 cut instead of a .25. That also means a possible recession is on the way unfortunately which if you factor our companies ATH profits and stocks.. reality for most people isn't as rosy. Prices are high and wages are low if you can find or keep a job. Calling a top...is never easy...and maybe this isn't a top..or a local temp top..before we move higher one more time after a nice dip... Either way end game is getting close. I don't like how this market is reacting so I am mostly in cash.
AMEX:SPYShort
by TheUniverse618
SPY recent rally failed to make new highsLooking back at the last two major rallies we see that the latest one has not broken above to new highs. Raises concerns of longer term rallies less likely to happen SPY is forming double top reversal pattern Longer term future rallies called into question More defensive sectors are experiencing rallies over the past year (XLU for example) Defensive sector long term rallies shows rotational shift from risk assets (tech) to safer assets (utilities, healthcare, gold) Seeing signs of late cycle investing 2025 could be a rough year for SPY and especially tech Bullish purchases should be done with caution
AMEX:SPYShort
by ratchet-mint
Double-Top In PlayAs expected, SPY double-top looks to be playing out. I don't expect us to drop much lower than the pink ascending trendline. Maybe we'll touch that 200 dma before our full send. Let me remind you that the pink ascending tl is the neckline of a large cup and handle pattern on the bi-weekly, the target of which remains 650-700. This is still in play on the longer timeframe and as long as we don't break below the pink tl with confirmation on the weekly, I will start to buy back at or around the pink tl and down to the 200 dma. Batting 1000% thus far and hoping to keep it perfect.
AMEX:SPYShort
by stewdamus
1
SPY/QQQ Plan Your Trade For 9-5 : Top-Resistance PatternToday's Top Resistance pattern should reflect a moderate price rally, leading to a peak in price, then followed by a roll-over in price before the close of trading today. Follow my research. Remember we are using my SPY cycle patterns to help guide our future and current trades related to price action. These patterns are not 100% accurate all the time - but I find them very helpful in understanding how to prepare/trade related to potential future price swings. Again, outside news events, central banks/governments, wars and other massive events can disrupt these patterns for 3 to 10+ days. But, price always seems to return to the patterns over time. These disruptions are temporary. Get ready for next week's big rally phase. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
2
SPY/QQQ Plan Your Trade For 9-4 : CRUSH Blends Into Rev-RallyYesterday's price move was clearly a CRUSH pattern I expected on Monday. Because of the holiday trading schedule this week, I believe the CRUSH pattern blended into Tuesday's trading - resulting in today's pattern being a blend of the Rev-Rally pattern on Tuesday and the Up-Down-Up pattern for Wednesday. Overall, I believe the CRUSH pattern removed a lot of downward price pressure and set the markets up for a bigger upward move starting on September 9-11. At this point, I believe the US markets will attempt to find a base/support and transition into the end of this week by "looking for support—then rallying away from support." So, I expect the US markets to find a critical support level today or tomorrow, then begin to form a base and rally away from that support level. Let's play what is in front of us on the charts and Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
4
$SPY September 4, 2024AMEX:SPY September 4, 2024 15 Minutes AMEX:SPY opened gap down. Since close was not good in that bar buy was not possible. I did not short for the day. I need AMEX:SPY below moving averages 9,21 to short. That came only around 556 levels with 559 as SL. So, i was not sure of R:R hence no short. Now for the day the rise from 518 to 564 has 546 -547 as 38.2% retracement. It is also 200 averages in 60 minutes. So, 546-548 is the next target. Already achieved 549.5 yesterday. Hence for the fall 564.2 to 549.5 a retrace around 556 - 558 will be a good placed to short today. Having seen multiple tops near 564 levels i will go long only above 565 levels. No long today as AMEX:SPY below all moving averages in 15 minutes.
AMEX:SPY
by RiderTrader
$SPY - Say it isn't soAMEX:SPY We could be looking at a double top. I hope it doesn’t turn into a full-blown double top and reverses before breaking below the confirmation point. A complete double top would be disastrous, and I’ll post the drop target when we cross that bridge. Let’s hope, for the market's sake, that it isn’t one of them. Watch the $544 critical support area for a reversal. If it fails, we’re looking at the $523 to $512 area. As always, I share my opinions and trades. I’m not suggesting anyone follow my trades. You do you.
AMEX:SPY
by PaperBozz
1
SPY indicating more selling to comeSPY Today pulled back much further than anticipated after the volume price exhaustion on Friday close. We have now broken below key support and into bearish territory A pullback was expected today due to volume spike on friday close during a rally Sell off proved to be more severe and broke below key support Final trading period gave strong hammer candle with high volume Hammer candle indicates reversal from downward trend Due to firm break out I expect a bounce up to new resistance line followed by more selling off. Originally thought we were experiencing pullback in time from SPY with it trading flat. It appears now that it was a longer term distribution phase before selling occurs.
AMEX:SPYShort
by ratchet-mint
SPY: Doom and gloomLooks like we are at long term resistance. it is getting rejected multiple times. We already reached 1.61 level, we might retrace back 50% to $455 or $413. Look at the negative divergence in long term RSI, that's bearish. Any new ATH can be shorted I guess. As rates are coming down, we might make one more ATH and then we might retrace back to the support in the upcoming recession. New ATH is in the cards, but not written. Trading is better than investing as of now. If long term support breaks, I guess that's going to trigger a atleast 30% draw down from the peak. We still have time for that I guess. Cheers AMEX:SPY
AMEX:SPY
by MarathonToMoon
SPY: Reversing the Trend? |D&H charts analysis|Daily Chart (Left Side) On the daily chart, SPY has experienced a sharp decline after failing to sustain its upward momentum near the resistance level of $565.16. This pullback has brought the price back below the support level at $554.86, which previously acted as a resistance and support area. The 21-day EMA, which had been providing support, has now been breached, indicating a potential shift in momentum. The next significant support level is at $544.96, highlighted by the red line on the chart. This level corresponds with the previous open gap on teh daily chart. Remember, gaps work as magnets when the trend reverses. A break below this level could lead to further downside toward the $510.75 level, which is the next major support. 1-Hour Chart (Right Side) On the 1-hour chart, SPY has been in a downtrend after a failed breakout attempt above the $563.17 resistance level. The price action shows a clear breakdown from the support at $554.86, which had been tested multiple times before giving way. The downward momentum is evident as the price is making lower highs and lower lows. The next support level to watch is the $544.96 area, which aligns with the daily chart's significant support. Key Levels to Watch Resistance: $554.86 (previous support, now resistance), $565.16 (major resistance on the daily chart). Support: $544.96 (critical support on both daily and hourly charts), $510.75 (major support on the daily chart). Summary SPY is showing signs of bearish momentum after a failed breakout attempt and a breach of key support levels. The 21-day EMA has been breached, signaling a potential shift in trend. The price is currently testing the $552 level on the hourly chart, with the next significant support at $544.96. If this support fails to hold, SPY could see a further decline toward the $510.75 level. Could SPY reject tihs bearish thesis? Yes, but it would need to make a clear bottom sign as soon as possible, and for now, we don't see any. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
AMEX:SPY
by Nathan_The_Finance_Hydra
4
SPY 10-Minute Chart Analysis - September 3, 2024AMEX:SPY The SPY has been trading in a well-defined range over the past few sessions, bouncing between support and resistance levels like a pinball. Right now, we’re seeing a key moment where SPY is testing the lower boundary of its trading range. Current Setup: Resistance Zone: The upper boundary around 5,641 has consistently acted as a ceiling for SPY. Every time the price reaches this level, it gets knocked back down, indicating strong selling pressure. Support Zone: On the other end, the support around 5,560 has held up well, with buyers stepping in to defend this level each time it’s been tested. SPY is currently hovering just above this support zone, which could be a critical area to watch. What’s Happening Now: SPY is testing the lower end of the range, around 5,573.91, after a sharp drop from the resistance. The price is attempting to bounce, but the question is whether this support will hold, or if we’re looking at a potential breakdown. Key Levels to Watch: Break Above: If SPY can gather enough momentum to push back towards the 5,641 resistance and break through it, we could see a significant move to the upside. This would signal that buyers have regained control. Break Below: On the flip side, if SPY fails to hold above the 5,560 support, we might see a more extended decline, potentially opening the door to lower levels. Summary: SPY is at a crucial juncture. The battle between buyers and sellers is heating up as the price hovers near the lower support of the range. Traders should keep a close eye on these levels, as a break in either direction could dictate the next significant move for SPY. Stay alert and be ready to act depending on how the market reacts in the coming sessions.
AMEX:SPYLong
by Deno_Trading
2
SPY Weekly Analysis Sept 2Fibonacci is all that is needed for SPY. Here I have drawn overlapping Fibonacci's from the monthly and weekly perspective. If price were to continue up, breaking the previous all time high, price would continue up to the next Fibonacci level of 579. Typically, when price breaks out to make a new level, it could continue up to test as far at the -50% Fibonacci level of 600. With the expectation of the FOMC reducing interest rates this month, the move to 600, is possible if you are able to hold your position. Keep in mind that there is a support gap from 549 to 543, so at some point price may come down to retest this level.
AMEX:SPY
by RandiMichelle
18