Trading Plan for Tomorrow (October 23, 2024):
1. Bias: Neutral-to-Bullish
The overall bias is neutral-to-bullish, with the 60-minute chart showing a continuation of the upward trend, despite potential near-term weakness in momentum.
Expect some consolidation between 583 and 585, with the potential for upside breakouts if SPY manages to hold above 583.
2. Entry...
1. 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...
Trading Plan for Monday, October 21, 2024
Based on the SPY research report and technical analysis, this plan outlines strategies to capitalize on short-term market movements while managing risk effectively. The focus is on taking advantage of tactical opportunities within SPY's current range and being prepared for breakouts or reversals.
Key Price Levels to...
Investment Summary:
The SPDR S&P 500 ETF Trust (SPY) continues to trade within a well-established uptrend, showing resilience amid broader market volatility. However, short-term technical indicators suggest caution as overbought conditions and a slight weakening in momentum raise the possibility of consolidation or a pullback in the near term. SPY is currently...
