SPY trade ideas
SPY BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
It makes sense for us to go short on SPY right now from the resistance line above with the target of 531.44 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
✅LIKE AND COMMENT MY IDEAS✅
SPY: Bearish Continuation
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the SPY pair which is likely to be pushed down by the bears so we will sell!
❤️ Please, support our work with like & comment! ❤️
S&P Tug of War Continues as Market Seeks ClarityLast week marked some of the most unclear price action we've seen. Starting on Tuesday, sellers gradually took control from buyers, but most of the action occurred during extended hours (meaning on VERY low volume). On Friday, sellers finally acted during regular trading hours and attacked the market right from the open. However, it seems buyers were only waiting for this, as the price suddenly pivoted, and the day ended with a spectacular bull run.
At this moment, the market is sending very confusing signals, and the best strategy for a swing trader is to simply stay away for some time. Here's a formal summary of the current situation:
1. Long-term Bullish . The price is in an uptrend on both weekly and monthly timeframes. May closed above April’s high
2. Short-term Bearish . Weekly consolidation is in progress, and despite the bull show-off on Friday, the market is still consolidating on the weekly timeframe. Moreover, the week closed with a bearish "hanging man" candle.
3. Respect Friday’s Bull Run . It was unusually strong for bearish context and could easily develop into something significant.
To develop a convincing thesis, we need to see some clarity on the daily chart. Either bears will confirm a daily lower high, signaling the continuation of the weekly consolidation, or bulls will set a daily higher low, signaling the continuation of the uptrend. Until this happens, we can expect more unexpected moves in both directions without much follow-through.
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Market Crash - Weekly Recap & Expectations for Next WeekThe market crash did not start this week unfortunately for me and my puts, but I still have confidence in the setup. I believe we're seeing a large divergence between NQ, ES and the rest of the market, which will eventually correct, it's just hard to say when. I know many are bullish due to the election year and other things, but I remain firm in my stance that we are near the top, even if we rally throughout the summer. We'll see how it goes, I made some short term bets this week that didn't work, but I'm optimistic about the short in the longer term.
SPY is gonna crater - NVDA was the sign like Cisco and Enron!Besides the TTM squeeze being fired off - I've seen some hedgies go to cash, PLUS I'm seeing huge dark pool buying for 2x and 3x BEARISH SPY ETF's. I bought some $11 SPXS puts for .07 a piece as a hedge. There was a ton of OI in those calls...
Links to dark pool buying in the comments.
Stocks Good. Crypto Meh. And I Am Pulling My Stops.Traders,
Market makers continue to torture crypto longs but their time is growing short. The U.S. stock market continues to press higher, led by mega-corp giants like NVidia. It is simply a matter of time before crypto follows. In the meantime though, I am tired of playing this game with MMs. For the first time since creating my public portfolio, I've decided to pull out all of the stops on my long entries. I am going to pop a few cold ones and chill for the weekend. I just don't want to play that game anymore. But please. Don't take any of this as financial advice per usual. You do you. I am only here to entertain you all with my poor choices.
$SPY to $527 short ideaI haven't been posting on here much anymore, but thought I should post cuz it is fun to see the chart later and how things worked out.
Not much to say except my dowsing is suggesting we go down a bit. I still have higher targets on QQQ and SPY/SPX, but for now I like down for next week. Multiple times I get the date to pay attention to as next Monday, the 17th, both intuitively and with dowsing. If you want more regularly, see my X.UVXY staying up pretty well is usually a sign as well.
There's also something up with AMD. Watch $154.
Spy Spy Is expected to make one of the biggest moves of the whole year Tomorrow, be very careful with tomorrow moves will keep everyone posted!!!
Below 540.44 gets exciting SPY looking bearish. Could see the floor drop if it dips below 540 ish. Selling calls here.
$SPY June 14,2024AMEX:SPY June 14,2024
15 Minutes.
AMEX:SPY made low 539.59 and did not cross 544.5.
For the holding 539.5 levels we can look forward to 545-546 range.
In 15 minutes AMEX:SPY made LL 3 times, but Oscillator 5,35 has turned positive.
So based on this divergence i expect 539 to be held today as it also happens to be 21 averages in 60-minute time frame.
On downside we have strong support at 538 and 536 being 100 and 200 averages in 15 minutes.
Bias is long.
RIP SPYThis chart paints the Macro in a way that really speaks to me.
TLT got smashed by rate hikes. Bond values being fairly tightly connected to interest rates.
Interest rates also impact the stock market, and housing market, but with a long and variable lag.
... looks to me like we're still in that 'lag' period.
S&P bulls confirm their control; market reaches new highLast week, the Bulls' performance surprised many and some were badly hurt by Wednesday's rally. Followers of this channel, however, hopefully avoided this trap by staying aware that a bullish run was possible given the market's mixed signals. Now, the Bulls have confirmed their control by establishing both a higher low and a new high on the weekly chart. Notably, they managed to maintain this new high into the week’s close.
At this point, my bias is 90% bullish. The only concern is the divergence between price action and market internals. While SPX set a new high, there were less stocks reaching new monthly high than lows. Although this isn’t a strong indicator, it’s something to keep in mind if suddenly things start to shift. But until we see clear signs of seller strength, we should remain aligned with the buyers.
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Understanding my SPY Cycle Patterns - Bottom-103This video highlights the Bottom-103 pattern and how price action (support/resistance/rejection) can be used to confirm and execute better trades.
This is something most traders will easily understand as a BOTTOM pattern reflects a possible bullish price trend - except when price rejects this setup and trends downward.
Learn how my SPY cycle patterns can help you become a better trader.
$SPY range $479-$529, the path to the top (and bear market)AMEX:SPY looks to be showing signs of weakness here. Thinking that we could see the first large decline of the year into one of the support levels below $479-$495. Breaking the trend line would be the trigger.
If that happens and we do get a low, then I think we'll have one final rally to the upper resistance levels between $525-$530.
Another possibility, is we just continue upwards to the top resistance levels and then decline after. Idea of a range is you want to buy the lows (supports on chart) and sell the highs (resistances chart).
Regardless of the path we take, we're nearing a top in the market and after we hit those top levels, I expect a large decline lower (one that takes us past the prior 2022 lows).
Ultimately looking for SPY to reach the $280-300 level by the end of 2024. But let's save that analysis after we see what happens in this range.
BIG MOVE! SHORTS TRAPPED! What's next?Based on the chart analysis, the rising wedge pattern signals a likely bearish correction in the short term, with the price potentially testing the 0.618 Fibonacci retracement level around $518.36 as a key support. However, the Elliott Wave projection suggests a bullish reversal toward point (C) if support holds, indicating a medium-term upward move. Traders should watch for confirmation of support at the 0.618 level and look for signs of reversal to enter long positions, targeting the previous high around $532.99 and beyond. We must stay above $524.71 to escape this wedge channel and maintain the potential for an upward breakout. Maintain vigilance for a break below the 0.618 retracement, which could signal further downside risk.
Leave a comment of what you think about where the market is heading!
