Spy Projection for the next couple yearsif you know you know lol spy drops to fill gap from the pandemic. if the market is "Liquid" then gaps fill.
SPY trade ideas
SPY SPDR long will go to 630 USDClear Long trend, correction catched above 50% retracement
Trend bullish
short term PT 490
A break above 491 will push SPDR to 630 and higher
If SPY demonstrates a downward movement below the levels of 434.00 and 430.50, it would indicate a further downside potential. In such a scenario, the initial wave of targets to consider are 425.00, 420.25, and 416.00.
The behavior of SPY around the 416.00 level becomes particularly crucial. Should the price fail to hold above this point, it could trigger additional downward momentum, potentially targeting 411.00, 406.00, and 402.00 in a second wave of potential declines.
#SPY as clean as they get for a shorting level on S&P500I did a clean chart on SPY as my original chart was quite cluttered but I think this gives a very clear view and why I thought this recent move higher into resistance was a very shortable area. There are 3 very important inflection points which 9 out of 10 times were going to get a reaction. These all come into play between 402-410 on the SPY
1) Orange line which is the anchored vwap since the markets all time high i.e most market participants that have bought the market on average since all time highs (since the start of the year) would average somewhere around here, which means that in a market that has trended towards the downside, you would generally have more uncomfortable buyers who have been on the wrong side of the market, dying to sell somewhere close to their 'average price'. An increase in supply would generally see a reaction by the market
2) The 200dma is nothing new in technical analysis and this is exactly where we saw a reaction in Mid-August which led to a sell off of almost 20%. The down trending 200dma is some history for the bears and would likely act as some anchor point on this strong move higher.
3) The downtrend resistance from all time highs has held price lower since the highs we saw right at the beginning of the year. Another important inflection point and this is the 4th attempt to break it which has failed for now.
Putting all the above in order, there is no doubt that this area would provide some pretty strong resistance. Could we get above? Possibly.. but the probability favoured a downside reaction from here and until price shows us something different, I would favour shorting the SPY above 400
Happy trading!
Black Swan - Omicron OmegaSpeculation for Macro:
- State of Emergency and lockdown for 10 weeks due to Omicron variant.
- Bear market until Feb 2022.
"Move fast, move hard" - Naftali Bennett
GLHF
- DPT
SPYThe S&P is under some selling pressure, which we can see in the upper vwap levels.
What we are looking for is to see if we gain or reject the upper vwap levels if rejection look for us to challenge the buyers at the lower vwap levels.
$SPY #stocks #stockmarket #investing #trading #finance #investment #business #invest #investor #trader #wealth #cryptocurrency #stock
Spy levels White dotted line is the market recent trend line that I’ve been following. Red lines are levels I expect to test in a bullish or bearish situation. Incase of a major pull back orange dotted lines is where I expect the market to stay at in terms of a range.
