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SPY trade ideas

SPY Pullback: Time to Consider New Swing Long Positions!While AMEX:SPY remains in a strong uptrend, today’s 0.5% decline offers a healthy retracement for swing traders looking to enter long positions at more favorable levels. I don’t expect this pullback to last long or be of significant magnitude, but the short-term weakness is evident, creating an attractive window to buy into the trend. Watch for upcoming signals, as this dip could present a fresh opportunity for the next upward move. The technicals support this outlook: Relative Strength Index (RSI): 63.85 (Neutral), indicating the market isn’t oversold yet, leaving room for more downside before a potential rebound. MACD Level: 5.77 (Buy), signaling positive momentum and supporting the overall bullish trend. Momentum (10): 12.81 (Buy), confirming underlying strength in the uptrend. Exponential Moving Averages (10, 20, 50, 100, 200): All in “Buy” territory, reinforcing that the uptrend remains intact despite today’s pullback. However, Stochastic %K (90.36) and Commodity Channel Index (192.15) point to potential short-term exhaustion, suggesting this is a brief pause before the next leg higher. Swing traders should stay alert for a better entry point at any moment. Action: Stay tuned for a buying opportunity and follow me to see when I make my next move into the trend! Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Trading involves risks, and you should only invest what you can afford to lose. Always do your own research and consult with a financial advisor before making investment decisions.
AMEX:SPY
by CF_444
Top 5 Weekly Trade Ideas #2 - SPY LongJust a 15m chart here but I think it's important for action early this week. Futures are up overnight so far so if that holds I'll be looking for SPY to open around or above $580.86. If it can open above, will be looking for longs on a retest in addition to potential support on the trendline below at the same time. That'd be ideal, but if it can't reclaim $580.86 early on this week I'd expect a move back down to $575. That could be a good long if it holds or a potential short on a retest if it breaks below.
AMEX:SPYLong
by AdvancedPlays
3
Just a thought This chart showcases a symmetrical triangle pattern formed after an uptrend, indicating a potential continuation pattern. Here’s a breakdown of the key components visible: Symmetrical Triangle Pattern: The price is consolidating within two converging trendlines. This pattern suggests indecision between buyers and sellers, and it often resolves with a breakout. Given that this pattern formed after an uptrend, there’s a higher probability of an upward breakout, though a downward move is also possible if market sentiment shifts. Moving Averages: The chart shows three different moving averages (TEMA), providing insights into trend direction. The moving averages are currently positioned close together, suggesting the asset is at a crucial decision point. A breakout above or below the triangle could lead to a strong directional move, depending on where the price closes relative to these averages. MACD Indicator: The MACD histogram shows signs of slight bearish momentum, with the MACD line below the signal line. However, the indicator appears to be in a neutral range, meaning a breakout from the triangle could trigger a shift in momentum. Watch for the MACD to cross above or below the signal line, as this will provide further confirmation of the trend direction. Cycle Indicators: The chart includes green arcs that seem to denote cyclical points, with a possible upward cycle ending around early November. This could imply a potential breakout timeframe. Key Levels: If a breakout occurs: Upside: A breakout above the upper trendline would signal a continuation of the previous uptrend, with potential resistance at recent highs. Downside: A breakdown below the lower trendline could indicate a reversal or retracement, with support at previous lows and moving average levels. Timing: The dotted red vertical line marks an upcoming date (November 5), potentially indicating an important decision point for the asset. Summary This setup suggests a possible breakout around early November. An upward breakout could indicate a continuation of the previous trend, while a breakdown would signal caution. Monitoring the MACD, moving averages, and price action around these trendlines will provide more clarity on the next directional move.
AMEX:SPY
by JerryDaniel
1
SPY/QQQ Plan Your Trade For 10-28 : Top Resistance PatternToday's SPY Cycle Pattern is a Top Resistance pattern in Countertrend mode. I believe this pattern will represent a moderate early topping price action in the SPY/QQQ - resolving slightly to the downside, then rolling into an upward price trend near the end of the day. The reason I believe this to be the case is because of two factors. A. The Countertrend mode suggests the top will actually be a moderate bottom in price (a pullback resolving as a base/bottom). B. The continued bias for the markets is slightly upward, thus I believe the SPY/QQQ will attempt to reach new intermediate ATHs before we start to move into the pre-election downtrend. Gold and Silver will struggle today as both appear to be consolidating in a FLAGGING formation. Bitcoin is still consolidating in the Phase #3 sideways consolidation pattern of the Excess Phase Peak pattern. Everything is playing out generally very well aligned to my research and cycle patterns. Last week I warned that market price would likely be very difficult in comparison to my SPY Cycle Patterns and that traders should begin to move to protect capital. This week is the last week you have for any upside opportunities. You need to plan to protect capital (if you plan to) before the pre-election correction. I believe skilled traders will be able to move back into the strongest sectors at a 5.5 to 8.5%+ pullback just after the elections. That is a smart move if you can pull it off. Also, don't hold any Gold/Silver futures contracts through the 2-3+ days around the election day. Volatility will be EXTREME and unless you can take the lumps (margin calls), I don't advise anyone trying to trade metals on November 5-6. If you do, get in and get out QUICKLY. Here we go... 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 sellers kick in, but the market remains strongLast week was marked by some selling activity. As anticipated, sellers took advantage of temporary bullish exhaustion and attempted to push the market down. A strong sell-off occurred on Wednesday, with the market losing 1.2%. However, this sharp decline did not see much follow-through, as the price found strong support at the top of the previous consolidation zone ( 574.7 ). On Friday, buyers even attempted to set a new daily high, but they were unable to maintain it through the close. All of this leads me to believe that the sellers are not particularly strong, and we remain in a broadly bullish environment. A few key points supporting this bullish outlook include: 1. The weekly uptrend is still intact, and there is ample room for this weekly higher low. 2. There is relative strength in "risk-on" sectors (XLK, XLY), suggesting that bullish sentiment hasn't completely faded. While we might see some short-term rotation within the 584.5–574.4 range, defined by two daily candle wicks (Wednesday and Friday), the long-term outlook remains decidedly bullish. This week, important economic data will be released, along with earnings reports from major tech companies. This is likely to cause increased volatility, but unless there are major negative surprises, bullish sentiment should remain solid.
AMEX:SPYLong
by hermes_trisme
SPY Technical Analysis Oct. 28, 2024Detailed Support and Resistance Levels Support Levels: 574.36: This is a crucial support level. If SPY stays above this level, it may serve as a solid base. If it breaks below, expect further downward pressure. 571.35: This is the next key support level. A break below this could indicate a stronger downtrend, potentially bringing SPY down to lower price ranges. Resistance Levels: 577.75: This is the immediate resistance SPY would need to break to regain bullish momentum. If SPY can close above this level, it could show buyers are stepping in. 579.24: This level will be a strong resistance point if SPY attempts to break upward. A successful close above this would suggest a short-term reversal. 581.16: If SPY breaks through previous resistance levels and trades above this one, it may confirm a reversal and could serve as a potential exit for bullish positions. Entry and Exit Points Bullish Scenario (if SPY breaks resistance): Entry: Consider entering a long position around 578 if SPY breaks above 577.75 with strong buying volume. Exit: Set an initial profit target at 581 (near the next resistance), with a potential higher exit target at 585 if momentum continues upward. Stop Loss: Place a stop loss slightly below the 577.75 resistance (around 576) to limit downside risk. Bearish Scenario (if SPY breaks support): Entry: Consider entering a short position around 574 if SPY breaks below 574.36 with strong selling volume. Exit: Set an initial target at 571 for a quick scalp. If SPY moves further down, consider a final target near 568. Stop Loss: Place a stop loss slightly above 574.36 (around 575.5) to prevent excessive losses in case of a quick rebound. Neutral Scenario (Range-bound play): If SPY remains between 574.36 and 577.75, it may be suitable for quick, range-bound trades. Buy near support (574.36) and sell near resistance (577.75) with tight stops to manage risk. Summary Strategy Bullish bias: Enter around 578, targeting 581 or 585. Bearish bias: Enter around 574, targeting 571 or 568. Range-bound play: Trade between 574.36 and 577.75 for quick scalps if no breakout occurs. Disclaimer: This analysis is for informational purposes only and is not financial advice. Market conditions are volatile, and trading involves risk. Always consult with a financial advisor before making any trades.
AMEX:SPY
by BullBearInsights
2 Confirmations last week just as we planned, What's next? SPY PRICE HAS BEEN MOVING IN OUR FAVOR ! CHECK MY LAST WEEK ANALISIS, Before we get to the analysis i just want to say... So far, the price has moved in our favor. If you check the results of previous analyses, you’ll see that the price has moved exactly according to my analysis of price action, supported by institutional trading concepts. Each green check mark represents a prediction that was correctly fulfilled according to the analysis from one week ago. My analyses are weekly, carefully prepared every weekend, but note: the study of price movement and the forecasted direction here, is based on my experience as a trader. I DON’T KNOW WHERE THE PRICE IS HEADING! IN FACT, NO ONE DOES! Every price movement and behavior is based on a historical movement of institutional supply and demand. Based on the years I’ve spent studying this concept, I can predict the next price movements. However, it’s crucial to emphasize that trading is ultimately speculation, but if you have really good fundamental study in price action & structure, your margin of error will always be minimal. So This analysis is for you but at the same time for entertainment purposes do not take trades because I'm greedy on any active, please do your own research first and you will have tyour final decision. BACK TO SPY... The price indeed broke out of the channel after we saw it crawling like a worm along the channel support. Indeed, the price began to range after the channel breakout. Looking at the overall structure, the price has been losing strength and volume since last week. I have a feeling we won’t see all-time highs soon, as it’s time for the price to start accumulating or simply making its natural pullback. I'm expecting the next move to either be a pullback that touches my "order block" zone and then starts gaining momentum to recover all that decline, or, in another scenario, if we see enough volume on Monday, it could start fluctuating in a range to accumulate before touching new all-time highs. BUT! The price could reach highs while forming its accumulation range. However, what we’re looking for is a decision from the price to break out of the range and reach new highs along with a new extreme! So be patient; this week will be very interesting to analyze in terms of price behavior. Thank you for supporting my analysis. TRADE SAFE! Best regards
AMEX:SPY
by RocketMike111
$SPY HyperInflation returns AMEX:SPY return of hyper inflation will we see AMEX:SPY my high target of $640.30 or will it die off around $540.70 give or take after we reach those highs we will see pullback back down to $395 if buyers fail to step up to show support we'll be testing 2008 lows back around $285 eventually down to $200 then $86 then $24 (WW3 scenario / end of world scenario/ near default) As bears we've done our job to short squeeze it to highs as news hit about Trump wall st bought up the rumors let's see how long we'll extend the rally. Thinking we got a bit more to go before we short completely after the rate cuts come around fall time you'll see a mass sell off as banks shut down.
AMEX:SPYLong
by calmstrades
SPY/QQQ Plan Your Trade For 10-25: Rally111 PatternHappy Friday, Today is potentially the start of a moderate rally phase in the SPY/QQQ headed toward my predicted peak level near October 30-31. Although this week has had lots of rotation, we've seen the markets hold up pretty well. Tesla surprised with earnings recently after Boeing and other issues prompted a bit of panic selling. My research suggests the SPY/QQQ will attempt to move a bit higher over the next 3-4 days - attempting to setup a peak just before the election. The 3-4 days prior to the election are likely to be very volatile as liquidity dries up. Traders need to stay keenly aware of risks over the next 15+ days - even after the election day. Whatever happens on election day, we are likely to see some moderate level of unrest and challenges related to who won. I believe the current election will be the most watched and validated election in US history. Everyone is watching for errors and shenanigans this time. As traders, our #1 job is to protect capital. That is why I suggested traders more to 80-85% CASH over the past 2+ weeks. There is no reason to be engaged in this market at full allocation levels when I expect the markets to become extremely volatile (and potentially prompt a flash-crash type of event). Remember, lack of liquidity means extreme price volatility. Gold and Silver are moving into another rally phase. Get ready to see Gold above $2800. Bitcoin is still consolidating - just as I expected. This is the time to play it smart. Trade smaller allocation levels and prepare to hedge against risk factors over the next 2-3 weeks. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
1
SPY scalping tomorrow Oct. 25, 2024For SPY scalping tomorrow and analyzing the close for the week 1. Analysis: Trend: SPY is currently trading in a clear downward channel, with resistance around 580 and immediate support near 577.99. The downward trendlines suggest continued pressure to the downside unless it breaks out above resistance. Key Levels: Resistance: 580.00, 581.22 Support: 577.99 (short-term), 574.12 (stronger support zone) Volume: There's been a visible spike in volume, suggesting heightened interest around current levels. The question for tomorrow is whether this will translate into further selling or a potential bounce. Scalping Strategy: Bearish Bias: Given the downtrend, I'd lean toward a bearish bias until we see a decisive break of the upper resistance at 580. This is where many traders may anticipate selling pressure, especially with lower highs being printed. Entries: Look for a possible retest of resistance at 580. You could consider entering a short position if this level holds as resistance and the price starts rejecting this area with selling volume. If price breaks above 580, wait for confirmation before reversing to a bullish stance. Exits/Targets: If short from around 580, consider targeting 577.99 as the first exit, followed by 574.12 if weakness continues. Watch for signs of consolidation or potential bounces around 574, which could lead to reversals intraday. Closing Thoughts for the Week: If SPY continues to trade within this descending channel, it's likely to test lower support levels like 574 or even 570. However, if there's any significant news or a surprise buying surge, watch for a potential upside break of the 580 level, which could shift sentiment more bullish into the end of the week. Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Trading carries risks, and it's essential to do your own research or consult with a licensed financial advisor before making any trading decisions.
AMEX:SPY
by BullBearInsights