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SPY trade ideas

How my chart look, using (S)&(R) with OrbFib. Open~Close.When Market open: 1) wait 5min close to draw Orb Fibonacci(0%,0.5%1.0%,1.5%,2%) wait 15min to close to draw Orb Fib. 2) Keep looks for (S) anf (R) to draw after 5min&15min candles close. 3)use (Support)&(Resistance) from your "drawing" and (Support)&(Resistance) from "Orb Fib" levels to CALCULATE your Risk to decide where is to enter trade. Sniping tips: Entry signal look for (S) or (R) pullback rejection by bouncing the level of (S)/(R), Reason is bc it show solid respect to that specific (S) or (R).ITo me it's an area that Price is not ready to break over/under yet. That will allow you time use that current new (S)/(R) rejection entry to aim that prev (S)/(R)! and Possibly break out of that too, just make sure you are following the bigger picture trend!
AMEX:SPYEducation
by FIBivanSPY
Weekly Options: Range Bound and Prepped for Both Up or DownAMEX:SPY AMEX:SPY is currently consolidating between a key support level and long-term trend support, hovering in the $580.90 - $583.60 range. The market's short-sighted focus on upcoming major tech earnings and elections has kept price movement tight. We’re positioned at a crucial point that could either send AMEX:SPY surging to new all-time highs or testing the daily 21 EMA for support. While our bias leans bullish, the downside trade presents a hedge opportunity, especially valuable for tech-heavy portfolios. Our Weekly Options 💡: 📉 $577 PUT 11/6 Entry: Confirmed 15-30 minute close under $580.90 with a retest rejection 🎯: $578, $576, $574.73 📈 $582 CALL 11/6 (Consider Call Debit Spread to lower cost: $584 STO | $582 BTO) Entry: Confirmed 15-30 minute close over $580.90 and trend support 🎯: $582, $583.60 Stay prepared for a potential breakout or breakdown with these setups, and let the chart confirm the direction.
AMEX:SPY
by PennyBois
$SPY next-week!AMEX:SPY Trade Setup 💡 Target Entry: < $577 Position: SPY 574 Puts (Oct 30 Expiry) Technical Analysis: Multiple tests of major trendline last week = critical support level Two potential scenarios: Trendline Break ⬇️ Expect accelerated downside momentum Trendline Hold ⬆️ Watch $585.27 as key breakout level Break above = potential run to new ATHs Risk Management: Entry only if price drops below $577 Clear invalidation points at trendline and $585.27
AMEX:SPY
by A1TradingHub
A Slow & Choppy Week!This week has been soo choppy and I am tired of looking at it! Its not yet clear if we want to fall past 577 towards 574 and find support there on SPY, or if we want to continue to form a new order block and then break out to continue our bullish run. Based on the candlesticks thus far and looking at the fair value gaps (FVGs) formed on the daily and weekly, I believe that price action has the potential to continue to drop to as low as 563 on SPY. It could take us a few weeks to get there but its possible. We are only a few weeks away from election and officially naming our new US President! Due to the anticipation of the results, we could see fear being pumped into the market as near closer to Nov 5. As of right now I am waiting to see what how we close this week. Trading the chop can be challenging, but also possible with the correct strategy.
AMEX:SPY
by RandiMichelle
Daily Recap - Will the Market Ever Go Down?A recap of today's action and opportunities I saw. I posted several ideas earlier and a lot of them have already triggered and worked so that's nice. It's been fairly easy to just buy dips lately because VX stalls every chance it gets, but I believe things are going to get a lot more dangerous soon. I have been speculating about a big market crash for a few months, but as I've noted, we just haven't had the VX strength for a significant move down that lasts. That is beginning to change now. ES and NQ are near all time highs, meanwhile VX is nowhere near the all time low. VX was completely crushed this summer and spent most of it making new all time lows. Now it has become extremely elevated relative to ES in my opinion and it has lasted for weeks, but has been kept in check so far. VIX is near 18 and has routinely traded near and above $20 while SPY is sitting near ATH. That is extremely unusual and should cause everyone to throw some caution flags up. That being said, this is why VX is so important to me here at 18.40. If it can't hold, it will likely go back in decay mode like this summer and then I'd be more optimistic for equities. VX has a long way to fall at the moment, but it hasn't yet. In addition to elevated VX and VIX, we have interest rates and DXY soaring along with gold and silver. There could not be a bigger warning signal than what we are seeing right now with interest rates spiking straight up after a 50bps cut. Not to mention global tensions, bank failures, and whatever else might happen for a catalyst. It's coming and couldn't be more obvious. It may not happen until after the election, but it will be swift.
AMEX:SPYShort
by AdvancedPlays
1
Reaching possible top before election? The RSI Cyclic, which has accurately indicated previous pullbacks, is now signaling the start of another. The 579 level remains solid support, but if it breaks, the uptrend may be over for now, and a deeper pullback could follow. Over the past two years, SPY hasn’t experienced a 10% pullback, and it's uncertain if it will this time. However, current conditions seem to support the possibility of a 10% decline: Geopolitical tensions between Israel and Iran are at an all-time high. The U.S. election is becoming a tight race, raising uncertainty, especially if the Democrats win, as Trump is unlikely to concede quietly. Although the economy shows strength, inflation continues to affect middle and lower-income households. A spike in oil prices could reignite inflation. China might take advantage of this global distraction to act on Taiwan, though this is highly speculative. On top of this Gold is going higher, why ? Strange time a head
AMEX:SPYShort
by JerryDaniel
$SPY October 22, 2024AMEX:SPY October 22, 2024 15 Minutes. The downward bias target 580 was done yesterday. AMEX:SPY bounced back with a good bar with close near top of bar once 580 was done. This was 9 averages in daily. For the fall 585.39 to 581.60 AMEX:SPY retraced 61.8% to 583.5 levels. For the rise from 565.27 to 586.12 AMEX:SPY has retraced 23.6% levels. So today holding 580 is crucial for furter uptrend to continue. Buy is above 585 levels and sell below 580 levels for a possible target 573-575 levels. This is not a chart to short for more than 3 to 5$ targets as of now. If draw an extension from 566.6 to 585.27 to 578.54 first target is 588-590 levels for a buy above 585. I expect a good move today or tomorrow as all numbers near moving averages in chart in 15 minutes time frame. Time for a sideways consolidation move with bias towards upside.
AMEX:SPYLong
by RiderTrader
SPY Technical Analysis for Oct. 22, 2024Key Levels: Resistance levels: 586.30: This is a significant resistance level that has been tested recently. 585.35: Another near-term resistance level. 583.55: A third resistance point that is currently closer to price action. Support levels: 582.12: Immediate support just below the current price. 578.51: A lower support zone that could provide a bounce if price drops. 577.01: Major support based on the recent low. Trend and Price Action: There's a visible descending trendline forming, which suggests a downtrend in the medium term. The price has tested this trendline several times but has not been able to break it. The chart shows that volatility is starting to decrease based on the tightening price range. SPY is trading around the middle of its recent price range, suggesting possible consolidation before the next move. Volume: The volume is relatively low, which could mean that the current move lacks strong momentum. However, low volume could precede a breakout or breakdown. Indicators: The MACD below the chart indicates potential indecision, with crossovers occurring but no strong momentum in either direction. This could signal that tomorrow might be a day for more cautious trading, waiting for confirmation of direction. Scenario 1: Bullish Breakout If SPY manages to break above 585.35, it could aim for the 586.30 resistance level and potentially higher if the breakout is strong. Scenario 2: Bearish Breakdown If SPY falls below 582.12, it could find support at 578.51 or even test the 577.01 level. A breakdown from there could signal further bearish momentum. Recommendation: Long positions could be considered if SPY breaks above 585.35 with volume confirmation. Short positions could be entered if SPY breaks below 582.12 with volume, targeting the lower support levels. Disclaimer: This analysis is for educational purposes and not financial advice. Trading involves risk, and you should only invest funds you can afford to lose. Always perform your own research and consult with a financial advisor before making any trading decisions.
AMEX:SPY
by BullBear-Insights
SPY: Immediate thoughts/Analysis A bit of a longer video, but its in response to some questions. The cliff's notes is that I am not personally sure which way SPY goes from here. I know the targets we will see at some point this year (which is covered in the video) but I don't know the immediate direction SPY will choose. A bit of a longer video, covering both the short term and longer ish term targets. As always, safe trades and leave your questions below! Thanks for watching!
AMEX:SPY
by Steversteves
7
SPY trading plan for October 22, 20241. Market Overview: Price Closed at 583.71: SPY closed near its recent highs, suggesting overall bullish momentum, but the presence of the sell signal on the chart indicates a potential short-term pullback. Momentum Slowing: Both the MACD and the yellow histogram bars are showing a decline in momentum, which indicates caution in the short term. Major Support Levels: The key support to monitor is around 581.50, which has held throughout the previous sessions. 2. Bullish Scenario: Trigger for Long Entry: Look for a bounce above 583.50–584.00: If the price finds support above the red moving average (around 583.50), or even better, if it clears the recent high of 584.00, this could be an indication of strength, signaling a potential long entry. Buy Signal Confirmation: Use shorter timeframes like the 5-minute chart or 15-minute chart to confirm if a new buy signal appears. Ensure MACD or momentum indicators on shorter timeframes show rising strength before entering. Trade Entry: Buy around 583.70–584.00 only if momentum reverses upwards. Profit Targets: First Target: 586.00 (Recent highs) – set a profit target around this level if the market continues to rise. Second Target: 588.00 (Extension target) – If momentum picks up, you can aim for 588.00, but be cautious as this could be a stretch. Risk Management: Stop Loss: Place a tight stop-loss around 581.00. This level is near the dynamic support of the red moving average and the previous session's support. Trailing Stop: If the price exceeds 584.00 and shows strength, consider using a trailing stop of 1.00 point to lock in profits while protecting against pullbacks. 3. Bearish Scenario: Trigger for Short Entry: Watch for Weakness Below 581.50: If the price breaks below 581.50, and the 30-minute signal chart confirms a sell signal, it would be an indication to enter a short position. MACD Confirmation: Ensure that the MACD on the 30-minute chart stays negative, or check for a sell signal on the 5-minute chart to confirm momentum is moving downward. Trade Entry: Enter a short position around 581.50 with confirmation of a bearish setup from multiple timeframes. Profit Targets: First Target: 579.00 – This level marks the next major support zone if the market pulls back significantly. Second Target: 576.50 – If the downward momentum is strong, this would be the next major area to consider for taking profits. Risk Management: Stop Loss: Place your stop-loss around 583.00 if entering a short position. This gives some room in case of minor fluctuations above the breakdown level but protects against a full reversal back into bullish territory. Trailing Stop: Consider using a 0.75 point trailing stop to manage risk as the price moves in your favor. 4. Intraday Strategy: Morning Setup (9:30 AM – 12:00 PM): Observe the Opening Price Action: The first 30 minutes will be key to understanding if the market continues the bullish momentum or begins to retrace from the recent highs. If the price stays above 583.50 in the first hour and signals align with buy indicators on the shorter timeframes (5-minute chart), consider entering a long trade. If the price starts to break below 581.50, be ready for a potential short opportunity and follow through with the short strategy outlined above. Midday Trading (12:00 PM – 3:00 PM): Monitor Consolidation: SPY may consolidate between 581.50–583.50 in the middle of the day. Look for momentum signals and volume increase as indicators of the next move. Use Smaller Timeframes: Focus on the 5-minute or 15-minute charts to spot any changes in trend or breakouts from this consolidation range. Afternoon Setup (3:00 PM – 4:00 PM): The last hour of trading can often bring increased volatility. If a breakout occurs in either direction, enter a trade using the strategy of either buying above 584.00 or shorting below 581.50. 5. Additional Considerations: Look for Divergences: Pay attention to any divergences between the price and the momentum indicators (e.g., MACD or RSI). For example, if the price reaches a higher high but momentum is lower, this could signal a false breakout. Monitor Broader Market Sentiment: Keep an eye on overall market sentiment and external factors that could affect SPY’s direction, such as macroeconomic news, earnings reports, or changes in interest rates. Summary of October 22, 2024, Trading Plan: Bullish Trade: Buy around 583.70–584.00 if upward momentum is confirmed, with targets at 586.00 and 588.00. Set stop-loss at 581.00. Bearish Trade: Short below 581.50 if weakness is confirmed, with targets at 579.00 and 576.50. Set stop-loss at 583.00. Morning and Afternoon Focus: Watch opening price action and volatility towards market close for optimal trade execution.
AMEX:SPY
by pythianscope