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Snp500

Stocks Attempt a RallyStocks appear to have found support for now at 4272. This seems to be a lower bound for now. We do appear to be witnessing a meager attempt at a rally. The S&P has tested 4380, but retraced a bit to support at 4327. We may attempt to find support here as we establish value. The Kovach OBV is still solidly bearish, and until we can see some momentum come through, we can expect to remain at these lower levels. We have a cluster of levels in the 4300 handle above. If we manage to break through these, 4408 is the first major level in the 4400 handle, and this will be a significant barrier to break.
FX:SPX500
by quantguy
1
When Will Stocks Recover?? 😱Stocks appeared to be seeking value around 4389, but seem to have taken a turn for the worse. We found support at 4350, but risk off sentiment pervaded the markets and the S&P smashed through several support levels down to 4272, where it is currently finding support. The Kovach OBV is still massively bearish, suggesting we are getting into oversold territory, and due for a bounce. The best case scenario for bulls would be a V-shaped recovery, that could take us back to the 4300 handle or even 4400. From below, we should have support at 4225.
FX:SPX500
by quantguy
Stocks Find SupportStocks have found support at 4350. The S&P has drifted up, and inched above 4389, but does not seem to have enough momentum in the tank to test the 4400's yet. If we see a lift at open, 4408 will be our next immediate target. After that, there is a cluster of levels in the low 4400's, that will next provide resistance. The Kovach OBV is bearish, but has started to pick up. If the sell off continues, we will find support again at 4350, but if this breaks, 4327 and 4306 are the next levels down.
FX:SPX500
by quantguy
Stocks Meltdown!! Will They Find Support??Stocks have finally found support at 4350, after a massive selloff yesterday. We cut through several major levels, and have solidly breached the 4300 handle. Currently, we are seeing a bit of a lift from 4350, reaching a resistance level at 4388. There is a red triangle on the KRI, suggesting we may see a rejection of this level. If so, we could retrace back to 4350 and then some. If we see momentum come through, then there is a vacuum zone above to 408. The Kovach OBV is still very bearish, however.
FX:SPX500Short
by quantguy
$SPY Where do we go next?Hello traders, I totally forgot about the congressional meeting with Powell and Yellen.. That and the debt ceiling talk completely spooked traders. VIX jumped up to 24 by 10pm EST.. nothing says uncertainty like that. It's been a little tough to gauge the direction of the market the past few days, but I'd like to share a little insight. Let's break it down: - Triple witching pullback on the 20th with a move down to the 200ma on the 4hr. - pivots up to about 444.85 over the next few days (23rd) from a 429 low - decreasing volume from the 20th - 27th - churning and double top formed. ____________ Today: - Bearish Trend change. Big sell volume with the VIX spiking ... catalyst: congressional meeting and debt ceiling fears. - Highest 5min volume candle was selling at the close after intraday dip-buying. - On the 1hr and below Double bottom formed. - Found support off the 4hr 200ma . - Directionally flat on the 4hr, but upward ADX on the 1hr. ___________ With all that said, it looks like we're still in choppy waters, be careful out there, manage your risk. We could see a Bullish reversal with the double bottom, if the VIX wasn't so high the odds of this happening would be higher. Drop me a like or a comment if you have some thoughts. Cheers, Mike
AMEX:SPY
by UPRIGHTTrading
SPY: BUY THE DIPSPY: Long for the next 3 weeks After some charting fun I made a few observations ~During the past dividends, there has been a big pullback which coincided with the previous 5% drop and this 6% drop. This could be a bearish indicator for future SPY contracts to keep in mind. Dividends = puts ~The previous resistance became the long term support ever since April. This, if SPY ever does break this resistance line without coming back, there are two gaps to fill which would be great Price targets (414.50-416) and (401.30-402.70) ~Using fractal recurrence, we can see that we may see a rise to probably around 449 before we see our next major pullback. The last 5% drop that followed a double bottom that we are seeing now followed this pattern, and seeing as to how this is a very similar fractal...Lord have mercy. ~Also keep in mind that the RSI is overbought rn and has also started curling up. Every time it has done this it has gone to overbought.
AMEX:SPYLong
by CheckMatted
6
$SPY Is there another pattern we could be missing?Hello traders, I hope you are well. As I'm sure a lot of others have been seeing, several charts posted on twitter and here are predicting a bearish move using Elliott Waves , news, a favorite indicator, or whatever lens we'd like to view the market through. Next few days look choppy to me. Are we going to end Sept on a high note or take a dip? In my opinion, we're going sideways for a bit before we do anything, but I think we could actually still move higher, of course anything can happen. The last few sessions after the rip higher, there's been significant drop in volume . The price action has been somewhat muted, and the $SPY bumped it's head on the daily POC Monday. Highest relative volume was seen on a green candle 5min small muted rally into the close (not much freedom of movement), but mostly red volume across the day. So, are we looking at a big drop? Are people actually worried about delta and Everglade and everything the media has been pumping? I'm not so sure... the big whale buys seemed to be after the dips. Anyway, I wanted to share that I noticed this little pattern on my chart, could be some technical correlation.. Good luck and be well, Cheers.
AMEX:SPY
by UPRIGHTTrading
1
Stocks Plummet!! 📉😨Stocks have sold off pretty hard, breaking down from a head and shoulders type pattern with the head at 4487. We anticipated in these reports that it would be difficult for stocks to break higher and that the risk was to the down side. We are currently attempting to find support at 4408, a level we have discussed in these reports many times and called out yesterday as a level of support. It looks like we are getting ready to break through this level as we write this. This is the last level of support in the 4400 handle, with 4389 and 4380 as the first levels to provide support beneath it. There is a cluster of levels above which will take some momentum to break through, including 4421, 4431, an 4440.
FX:SPX500Short
by quantguy
Stocks Struggle at HighsStocks have made a run for highs, but have met resistance at 4487. We are currently finding support at 4463, as confirmed by a green triangle on the KRI. The Kovach OBV has been tapering up, confirming the bull trend, however this momentum still seems paltry with respect to the selloff we saw last week from Evergrande. If we are able to brak 4487, then 4504 and 4521 are the next levels to target on the upside. It seems likely that we may see a retracement, and we should continue to find more support at 4440. There is a cluster of levels around this vicinity, but if these do not hold, 4408 should provide further support.
FX:SPX500Long
by quantguy