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$SPY daily consolidation: accumulation or distribution zone?Another thing I am noticing from the current price action is that $SPY market is setting up for a big move. Whenever we get into these consolidation clusters(which could be an accumulation or distribution zone) a big move follows. Price has been holding the 9EMA, hasn't taken out the trigger for puts and has gone 2u on the daily, however it has been struggling to break and hold to the upside. Additionally, the day after a CPI print or the final moments of the day we typically get the "real move" as the dust settles. We did get a hotter than expected YoY reading with the 6.4% print, but the data was mixed overall.
AMEX:SPY
by Solidified
$SHOP Technical Indicators for Short-Term Trading Strategies $BA @everyone MACD Divergence Stock price and moving average convergence divergence (MACD) indicator are showing a bearish divergence i.e price is making new highs while RSI is making new lows. This is generally a reversal signal. Horizontal Resistance Daily price is touching a horizontal resistance level. Price can hit the resistance level and start going down, which would be a bearish signal. It can also break out of it to form a breakout, which would be bullish. Yearly High Close Price is close to the yearly highs. Inside Day When today's high and low are both within the yesterday candle's high and low. Potential Breakout Price is close to breaking out from a resistance level. For Chart Like Mine Link In Bio
NYSE:SHOPLong
by ImmaculateTony
Phillips 66 (PSX) Technical Analysis: A Positive OutlookGolden Cross The 20 moving average on the daily chart has crossed above the 50 moving average today. Monthly High Stock price is at monthly highs. Pivot Machine Gun (PMG) When price makes continued highs for 5 days. This is a bearish reversal signal only if price starts to break the low of the last day's candle. Volume Shelf Launchpad When price starts to move with some momentum from a volume shelf, it is called a volume shelf launchpad. CCI Buy Trigger Commodity channel index (CCI) crossed the 0 level to the upside thus triggering a buy signal.
NYSE:PSXLong
by ImmaculateTony
Moving Average Free Options MethodSimple to use on the 15 minute to Daily chart. When the Emas cross with green on the top buy calls within $2 strike. When cross with red on the top buy puts within $2 strike. Bottom Mac'd Ema difference should also be same color as top Ema. Green/Green or Red/Red. Any light blue line Ema or Sma can be support or resistance so be prepared to sell. Buy time never buy contracts that expire that day. Greeks will burn you. Support and resistance are the green and red stripes across the chart(also sell or buy points. Ideally enter on the 5 minute chart then switch to the 15 minute or half hour chart to eliminate noise. Happy trading.
AMEX:SPY
by kwiktrip
Moving Average Method SPY OptionsSimple to use on the 15 minute to Daily chart. When the Emas cross with green on the top buy calls within $2 strike. When cross with red on the top buy puts within $2 strike. Bottom Mac'd Ema difference should also be same color as top Ema. Green/Green or Red/Red. Any light blue line Ema or Sma can be support or resistance so be prepared to sell. Buy time never buy contracts that expire that day. Greeks will burn you. Support and resistance are the green and red stripes across the chart(also sell or buy points. Ideally enter on the 5 minute chart then switch to the 15 minute or half hour chart to eliminate noise. Bars on far right are volume shelves, the ones that stick out furthest left are also support and resistance spots. Happy trading.
AMEX:SPY
by kwiktrip
2
Bearish Breakdown on the Horizon for $QQQGood morning traders! $QQQ is showing signs of bearishness with resistance currently sitting at $309. The current support level is at 297.75 and I'm closely watching for a breakdown to continue the bearish trend. Keep in mind that we are at a support level, so be mindful of potential bounce-backs. This could be a great opportunity to jump on the bearish trend. Don't miss out - follow me, tap the rocket, share with one person and stay tuned for more updates! #QQQ #Bearish #TradingOpportunities
NASDAQ:QQQShort
by ImmaculateTony
EBIX Long Options StrategyInternational SaaS and technology company Ebix offers software and e-commerce services to the insurance, financial, travel and healthcare industries. It recently announced that it closed 2022 with record volumes on AnnuityNet4 (AN4) --its annuity exchange platform that handles roughly 70% of the electronic annuity transactions in the industry, integrated with partners such as Cannex, DocuSign, OneSpan, DTCC. Other areas of business include CRM, Forex, and e-learning solutions. Fundamentally, Ebix has a market cap of 623.2M and P/E of 9.47x -- with price targets from $43-150, averaging $97. TA-oriented investors may spy some consolidation into a falling wedge as well as some possible bullish momentum. But tech stocks in general are volatile in this market, and it's hard to tell if this small cap will chop or rally. With this options strategy, capture up to 12% (20% annualized) of the potential gain while also allowing EBIX room to fall 63% before losing any of the initial investment. Hedged like this: Buy 1 $20 call Sell 1 $22.5 call Sell 3 $7.5 puts Exp 9/15/23 Capital Requirement: $2239
ELong
by oliveinvest
$MGM Heading for a Touchdown with the Help of the Charts!The $MGM market has gained attention due to the hype of the Super Bowl, but don't be swayed by the noise! The charts tell us that this market is on the rise, with resistance at $50 and strong support at $44. The charts never lie, and they say that $MGM is ready to make a big play. So, what did the charts say? They said: "Hold my beer, I got this!" Join us as we follow the $MGM market and see if it will score a touchdown with the help of the trusty charts. It's going to be a wild ride, but we're ready for the game! For Charts like mine Link in bio
NYSE:MGMLong
by ImmaculateTony
Breaking Out of the Bear Trap: $QQQ is Heading Up!The $QQQ market has created a bear trap, but don't be fooled! We're expecting this market to head back towards the stop loss area and potentially proceed upwards. With strong support at 298 and minor/secondary support at 305, the $QQQ is showing bullish signs. The current resistance stands at 309, but let's see if this market is ready to break through and reach new heights. Get ready to join us on this exciting journey as we follow the $QQQ market on its bullish path! For Chart Like Mine Link In Bio
NASDAQ:QQQLong
by ImmaculateTony
2
Understanding Key Technical Analysis Terms in Stock Market TradiThis article provides a comprehensive guide to the key technical analysis terms frequently used in stock market trading and investing. This includes "Yearly High Close," which refers to a stock's price closing at or near the highest level it has reached in the past year, and "CCA Squeeze," an indicator that helps identify consolidations and signals when prices are likely to break out. Other terms such as "Inside Week" and "Potential Breakout" are also explained in detail to help traders and investors make informed decisions.
NYSE:MOLong
by ImmaculateTony
Bullish Breakout Potential: $STT Approaches $100 ResistanceThe trend for $STT stock appears bullish as it approaches the resistance level of $100. The stock has been consistently trading above the support level of $88, providing further confidence in the bullish trend. It's important to monitor the stock's performance at the $100 resistance level and evaluate potential entry and exit points. Keep an eye on the volume and any potential changes in market sentiment to maximize profits in this trade. Let's see if the bulls can push through the resistance and reach new highs.
NYSE:STTLong
by ImmaculateTony