SPY Double Top at 550SPY double top at 550 signaling a short term pullback. This analysis is for informational purposes only.
SPY trade ideas
SPY Weekly OutlookMany of you are confused on the recent price action of the market.
When in doubt, zoom out.
Pay attention to the next fib level and pay attention to GOLD & OIL.
Feds only cut rates during market turmoil not during bull runs.
To keep it SHORT and sweet. It doesn't end well for risk assets.
On the other hand, have you seen the prices of cocoa??? Insane!
SPY/SPX: Week of June 24My thoughts on SPY/SPX for next week.
Overall, looking like its going to be a pullback week!
Safe trades as always and leave your questions below!
Plan Your Trade 6-28 - Today Is The Big CRUSH DayThis continuation of my Plan Your Trade video series highlights the potential price rotation we'll see today with the big CRUSH pattern. Next week, I believe, will result in a substantial rally phase throughout the week of July 4th.
Today's big CRUSH pattern will likely result in a fairly deep downward price move in early trading, followed by a period of basing/stalling before we may see a fairly strong rally phase/squeeze into the end of trading today.
These types of price swings are fantastic for day traders and intraday swing trading.
Watch the video today and prepare for next week. Overall, nothing has changed. Price is rotating into a rally phase ahead of Q2:2024 earnings.
Learn how my SPY Cycle Patterns can help you plan and prepare for market direction and trends.
Do you know anyone who can accurately predict price setups/trends 2 to 4 weeks into the future? Well, you are watching me do it right now.
Let me know what you think in the comments.
Go make some money today.
SPY BREAK DOWNSpy has been in a range since 06/20 I expect tomorrow we pick a direction. A break above 546.40 we may see a new high. A break below 544.60 we see 542.
Spy Scalping for today noteSPY has shown a mixed performance over the last few days, with fluctuations driven by market conditions and economic indicators.
Recent Performance:
June 23, 2024: SPY closed at $542.40.
June 24, 2024: SPY showed a slight increase, closing at $544.83, up 0.39% for the day.
June 25, 2024: Pre-market data indicated a minor drop to $544.11.
Key Indicators:
Volume: The volume has been relatively stable but with some spikes indicating increased trading activity.
MACD (Moving Average Convergence Divergence): The MACD shows a slight bullish trend, indicating potential upward momentum.
RSI (Relative Strength Index): The RSI is approaching overbought levels, which might suggest a potential pullback or consolidation in the short term.
Technical Levels to Watch:
Support Levels: $542.44, $540.00
Resistance Levels: $545.19, $547.00
Trading Strategy for Today (June 26, 2024):
Scalping Strategy: Given the recent minor fluctuations, a scalping strategy might focus on quick trades around the support and resistance levels. Look for entry points near the support level of $542.44 and consider exiting near the resistance of $545.19.
Potential Gap Up/Down: The pre-market trend suggests a slight gap down, but it is minimal. Watch for early market movements to confirm the trend.
Key Levels: Monitor the $545.00 resistance closely; a break above this level could indicate further bullish momentum, while a drop below $542.44 might suggest a bearish trend for the day.
Keep an eye on market news and economic indicators as they can significantly impact SPY's intraday movements.
SPY: WAVE 5 Complete?SPY may retest its high of 550, however, it isn't required. If Wave 5 is complete, I'm looking for a ABC correction to PT1/wave A target of 518.
S&P buyers dominate market; sellers wait asideLast week began with a powerful rally. After the bulls failed to push higher the next day, sellers seized the initiative and tried to drive the market lower. However, they didn't accomplish much, and the week ended with a potential reversal pattern on the hourly chart. If this pattern confirms today, we could see another bull run very early. Even if it doesn’t confirm, there is still substantial support just below.
On the longer timeframes (weekly and monthly), buyers still have full control, with no warning signs. While the price is slightly overbought on the daily chart, this is not a significant concern in strong uptrends. Sector rotation appears healthy – despite the market being pressured by weakness in XLK, other sectors (e.g., XLF, XLV) appreciated.
Important economic data will be released on Thursday and Friday. As long as there are no negative surprises, the market is expected to remain strong.
The market outlook is a definite "long". New buyers can try to establish position upon the confirmation of the hourly reversal patters and upon the pullback into consolidation zone (if it happens).
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
A long & shortHere's a contrast between a long on BCH/USD and short on SPY. As you can see Bitcoin Cash is at it's support zone and SPY is near it's resistance area.
Trade idea:
BCH
long = 436
stop = 400
profit = 630
SPY
short = 542
stop = 545
profit = 530
Plan Your Trade - 6-27-24 : SPY & QQQ ExpectationsThis continuation of my Plan Your Trade video series highlights the potential price rotation we'll see over the next two days, leading to what I believe will be a substantial rally phase throughout the week of July 4th.
The next two days will likely represent some huge price swings - first upward, then downward on Friday.
These types of price swings are fantastic for day traders and intraday swing trading.
Learn how my SPY Cycle Patterns can help you plan and prepare for market direction and trends.
Do you know anyone who can accurately predict price setups/trends 2 to 4 weeks into the future? Well, you are watching me do it right now.
Let me know what you think in the comments.
Go make some money today.
$SPY Analysis, Key Levels & Targets for 6.27.24AMEX:SPY Analysis, Key Levels & Targets for 6.27.24
Tomorrow’s implied move for SPY is between 542 and 549, based on options, while the 30-day average volatility suggests a wider range of 539 to 552. For Friday, the implied move is between 541 and 550. Key resistance levels are at 546-547, where resistance was seen on Monday, and then at 549, with all-time highs just above at 550.12. On the downside, the 35 EMA has been a clear resistance since last Friday’s gap down and may act as support if a follow-through occurs. The bottom of the implied move at 542 aligns with recent support. If 542 is breached, the next support is the 30-minute 200 average. For Friday, the bottom of the implied move is 541. Looking into next week, the gap from CPI, FOMC, and PPI could be tested if the 30-minute 200 average is lost, though it’s not expected to be within tomorrow’s trading range but could be in Monday’s. (This is the transcript from tonight's video for SPY 💃🏻)
Correction: Counter Trend Break Away Pattern on 6-26This is a correction video representing the Counter-Trend mode of today's BreakAway pattern.
I created the first video thinking this was a Trending pattern.
Counter-trend patterns tend to reflect a reversal of price direction related to the last 3~5 days price trend.
In this video, I go over how I view Counter-Trend patterns vs. Trend/Carryover patterns.
Look for initial weakness in price followed by what I believe will be a strong rally phase this afternoon.
Here we go...
Plan Your Trade 6-26 - SPY BreakAway PatternGood Morning.
This continued video series highlighting my Proprietary SPY Cycle Patterns is designed to help you understand how to prepare for, and trade expected market trends.
The SPY Cycle Patterns are predictive. They represent shapes/trends of future price bars on the SPY that can help traders understand where opportunities may exist for trading. They can also help you stay away from consolidation/congestion periods.
In today's video, I highlight how the current BreakAway pattern in Trending mode suggests the SPY will rally a bit today. I expect the SPY to close above 545.50-546.50 as the bullish base/support level holds today.
There is a bit of downward pressure on the SPY this morning. It will be interesting to see if my expectations are accurate or not.
Remember, the SPY Cycle Patterns are not 100% accurate all the time. They are only about 80-85% accurate in most cases. Big news events or outside factors can drive prices in ways that do not align with my SPY Cycle Patterns.
However, these SPY Cycle Patterns are generally very accurate in terms of how to plan/prepare for trading opportunities 3 to 10+ days into the future.
I hope you enjoy it. Please leave a comment and tell me if you see value in these videos or what you think.
$SPY June 26, 2024AMEX:SPY June 26, 2024
15 Minutes.
546.5 shorts still on SL is 548.6
Moving averages have converged.
At the moment AMEX:SPY is in range for 543 - 546 levels. Need to break on either side for a move, provided the close of that breakout bar is near high or low respectively.
Today if SPY manages to hold 543 levels will close shorts around 547 levels.
Remember if we take the move from recent low of 532 to 553 AMEX:SPY has retraced only 38.2% indicating it is still strong for an upside movement.
I look for shorts in 15 minutes, which so far most of the times has resulted in breakeven or loss only.
As of now this is not a short able market.
As written may times once 560 is crossed with good close near top in daily and not much downside before that bar (maximum 536-540 levels only) I have 620+ as target in daily.
So, longs tend to work in this market than shorts. So far.
Expired SPY Weekly outlook. 4th WK JUNE 2024Expired SPY Weekly outlook. 4th WK JUNE 2024
> BULLISH 📈 CORRECT
Closed Price: 544.51
Target Price: 546 | Strike Price: 546.95 JUNE24 24'
Upper Range: 554
Lower Range: 539
SPY Set To Fall! SELL!
My dear friends,
My technical analysis for SPY is below:
The market is trading on 544.13 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 533.26
Recommended Stop Loss - 550.98
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
———————————
WISH YOU ALL LUCK
Plan Your Trade 6-25-24 - Base Rally DayThis video continues my series on planning your trade around my SPY Cycle Patterns. Today is a Base Rally pattern. I suspect the price will attempt to climb above $544 and may attempt to rally above $550 over the next few days.
This is an excellent opportunity for traders to swing for the fences with long trades.
Time your entry. If the price fails to rally above $544 in early trading, we may see a strong rally later this afternoon.
Tomorrow is a Breakaway pattern in counter-trend mode. I suspect we'll see a bit of a downward price swing tomorrow after today's strong rally. Then, another push to try to rally above $550 on Thursday.
Plan your trade. Learn how I can help you stay ahead of these bigger price swings.
SPY Massive Head and shouldersHead and shoulder chart patterns have been the most reliable indicators as a top of a market. Over the many such patterns they have proven to be very accurate.
We are now looking at a 5 year chart with a huge very obvious left shoulder - head - and now right shoulder.
To complete this bearish pattern a break below existing area would indicate a 6-12 month drop from this level.
Take maximum protection !!!!!
SPY SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
Previous week’s green candle means that for us the SPY pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 516.43.
✅LIKE AND COMMENT MY IDEAS✅
$SPY June 25, 2024AMEX:SPY June 25, 2024
15 Minutes.
546.5 was good level to short.
For the day since close was near low of day, and all moving averages broken i have a target 538 levels which is a common number in higher frames moving average support and fib value too.
For example,
15 Minutes 538-539 is 61.8 % retracement value
30 minutes it happens to be 200 average number
60 minutes it is 100 averages number
180 minutes it is 50 averages.
So, traders from all these time frames will be targeting this value.
Buy only above 550.5 as of now for longs, until we have a trend change for 550 as target.
SPY - quadruple witchingHere’s a more detailed explanation of what happens during quadruple witching:
Stock Index Futures: These are contracts to buy or sell a stock index at a future date for a predetermined price.
Stock Index Options: These give the holder the right, but not the obligation, to buy or sell a stock index at a specified price before the contract expires.
Stock Options: These give the holder the right, but not the obligation, to buy or sell a specific stock at a specified price before the contract expires.
Single Stock Futures: These are contracts to buy or sell shares of an individual stock at a future date for a predetermined price.
Plan Your Trade 6/24/24 - Prepare For Rolling Price ActionThis continued video series focused on my SPY Cycle Patterns teaches you how to plan for future price swings and bigger trending days.
Today, I expect the SPY to stay relatively muted in trend—possibly moving downward overall. The Up-Down-Up (countertrend) pattern suggests that the price will want to move downward today, perhaps setting up support near $541.50 to $542.50.
I don't expect anything big to happen today as today's pattern is followed by three days of an upward price trend. That upward trend is your opportunity for profits.
Tuesday, Wednesday, & Thursday look like a bigger opportunity for long trades than Monday or Friday.
Friday's CRUSH pattern suggests a fairly strong downward price trend. I would be cautious of taking long positions on Friday until possibly the last 60-120 min of the day (if we see a short squeeze setup).
Please use this information efficiently. I'm trying to show you how to use my SPY Cycle Patterns to plan your trading and find the best opportunities.
I will have more info tomorrow as I continue this video series.
$SPY June 24,2024AMEX:SPY June 24,2024
On Friday AMEX:SPY tool support at 543 levels as per setup.
If this is broken today, we will have a target 538 levels.
538 is 50 averages in 60 minutes.
For the rise 532.04 to 550.12 538 is also 61.8% retracement.
For the fall 550.0 to 543.02 61.8% retracement is 547 level which is a good level to short.
How ever f AMEX:SPY breaks 542.8 levels we can short for 5$ trade.
So, 546.5 to 547.5 is a good level to watch and short as per candle closure.
