SPX ETF TRADING CHART 2025Happy New Year! Here' is the chart I will be swing trading SPX ETFs showing with TV scripts so you don't have to code. I use the DAILY MES1! price chart and position in the aftermarket or premarket with an SPX ETF. Here is what I do. After the close --- 1. Golden Cross (50SMAX200SMA) shows the "trend". Only trade with the "trend" (only long since April 2023!). 2. Use Accurate Swing ("7") to enter the trade. 3. Exit the Trade when MES price CLOSES below HMA ("16")
SPXL
SPY on weekly stays the course LONGSPY on the weekly chart is up 25% in the past six months. This is beyond its historical norms
even during a presidential election year. While there has been some volatility in both directions
the climb is consistent and persistent. The indicators serve to document this. The predictive
algo predicts more of the same. A price cut when the fed gets around to it will serve to sustain
the trend. Lack of it through the summer may cause a fade of momentum. Make hay while the
sun shines.
SQQQ leveraged inverse QQQ LongSQQQ on the 15 minute chart has trended down into a reversal at the end of the last trading
session. A snapshot of the 3 minute chart inlaid shows a reversal about 14:45 EDT 75 minutes
before market close. I took a long trade of shares and call options striking $10.00 for June 14th
at that point. I am expecting a 5% quick return on the shares and far more on the options.
The relative volatility indictor is helpful to further pinpoint the reversal for best entry.
(red to green) The set of Hull Moving Averages ( 14 and 35) also serves to signal "death" and
"golden" crosses which serve to further aid trade entry accuracy. The relative volume indicator
( of veryfid) also helps in that regard. It has extreme volume spikes in black. OF particular
interest, the last 15 minutes of the trading week has a volume spike of buying in SQQQ.
This comforts me to know that other traders saw what I saw. I am fortunate that I saw it
about 45 minutes before them and got a better price. This demonstrates the value of indicators
and knowing how to apply and interpret them. Trading is not as complicated as the pundits
and the fee for services and trading room coaches will have you to believe to make you
financially dependent on their "guidance and assistance".
SQQQ is rising today LONG
SQQQ trended down the last two days of last week and especially Friday as the technology stocks surged
Yesterday had price consolidation and generally less trading volumes. I believe that
SQQQ will bounce at this level. It is supported by a cross above the POC line of the volume
profile. Under that line is the stop loss while the target is 17.95 at last week's pivot high
The relative volume void above 17.3 suggests that price may have great movement once
getting over that level. A confirmatory MACD line cross sets the reversal .
SPY persists with bullish bias LONGSPY on a daily chart shows rising VWAP lines and price with the RSI indicator showing strength
above 50 since November and presently in the 65 range and so not yet overbought. Volumes
are near to the running mean. Price Momentum and Relative Trend indicator are more or less
flat but are positive. The mass index indicator does not show a reversal pattern. I conclude
that SPY is still in range for long trades including call options.
SPY has bullish bias after a day downtrending LONGSPY on the 15 -minute chart is shown to be in a megaphone or broadening wedge pattern since
March 5th. Price is now at the lower support ascending support trend line. The Gaussing
regression line forecast indicator an example of predictive modeling confirms with a prediction
that price will trend up inside the pattern and head toward the upper resistance trendline.
The mass index appropriately has signaled a reversal with a signal line that topped 32 and then
fell below the trigger. I found two long bottoming wicks in the prior two days at nearly the
same bottom level. The line /ray connecting them comes to a value of 512.75 which becomes
my immediate-term target. I will enter a trade of shares along with call options. The call
options are for a next-day expiration striking 513 ( OTM just a little). TEXT BOX correction:
The regression line forecast by Luxalgo's algorithm suggests a reversal and trend up into the ascending resistance.
SPY falls into mean VWAP support for LONGSPY on the 1H chart was riding the cynamic resistance of the second upper VWAP line
in mid July but then pivoted down out of a head and shoulders at the bottom of the month
and is now bounding up and down retesting the support of the mean VWAP line.
The ADX indicator shows the flat line directional index. The ZL MACD is upgoing after a
cross of the lines at the lows. Price is impending another VWAP crossover on the
retest. I see this as an excellent base from which to take call options long targeting
$453 for both 8/18 and 9/1. Please leave a comment, will SPY turn it around here or
seek the downside?
RSP performing better than $SPX, good news for breadthThe AMEX:SPY is underperforming AMEX:RSP (equal weight SP:SPX ).
This means that underperformers could very well pick up the slack & outperform the Big 7 going forward. They have been performing well.
The Volatility Index TVC:VIX is down on the day BUT up from open.
Will the moving avg's push it lower or do we get some sort of support here? This is a MAJOR SUPPORT level!
TVC:VIX rarely gets close to oversold, let alone oversold.
AMEX:SPXS AMEX:SPXL #stocks
$VIX could be flashing BULL!TVC:VIX is almost @ the MAJOR SUPPORT level we have spoken about many times.
IF this 12 area is broken it has a history of going as low as 10.
Sub 10 = R A R E!
Pulling back to this area after a high VIX, then normalizing to a low #VIX, it has signified a GOOD CBOE:SPX RUN.
After some time, shortest span was 2 years, the VIX eventually trades higher & #stocks have an eventual crash.
$VIX retesting & possibly breaking in the future?Daily TVC:VIX seems to be heading lower, likely retest 13.
Weekly not much sign of holding, maybe 12?
Longer term the trend from 2020 is obviously broken. Even the monthly can't help now.
There is STAUNCH support @ 13 then 12.
This area has been strong for a long time.
BREAKS? Then 10.
#ViX
Two Large Rallies Before the Bottom Falls Out in 2024If Primary 1 finished today, it hit the forecasted mark from here:
And here:
The original call for the end of Primary wave 1 ending in October was here (August 2 idea #1):
However, I knew the bottom of Primary 1 would be a little later than the initial forecast once Intermediate wave 1 was late in hitting the mark. The initial forecast for the end of Primary wave 1 was based on the theory the complete bear market would end between August 2024 and April 2025. Based on 6 likely end locations (from relational data based on Cycle wave A and B behaviors), I back calculated what each Primary wave would have to do to achieve this movement which were the pink boxes in this idea (August 2 idea #2):
Basically waves 1-5 fulfill a particular amount of the overall wave’s length and movement and I took first and second sigma values to determine the range. From those pink boxes I estimated Primary wave 1’s likely end location if the final market bottom occurred in September 2024. Primary wave 1 should end around October 5, 2023 to hit this final market bottom. From this date, I back calculated what Intermediate wave 1 should do to hit this target as outlined in the first August 2 chart above. Once Intermediate wave 1 finished a week after the first estimate, I figured Primary wave 1 must be at least a week and a day later than planned. Once Primary wave 1 ended, I can then go back to the idea with the pink boxes to make the first assumptions about the final market endpoint in late 2024 or Q1 2025. Based on the end of Primary 1 occurring after the right side (outside) of the first two boxes, the end should occur after September 2024. Based on the movement occurring above the top of the sixth box, the market top should occur above 2733. The furthest end point in April 2025 is less likely with the drop not occurring below 2733 and it is also ruled out. The current forecast for the market bottom is between September 23, 2024 and March 30, 2025 likely in the range of 2878.89-3183.44. I am leaning more toward the date of the 2024 election, possibly the day results are finalized. These values will change and likely narrow as each subsequent wave is completed over the next 12 months until the final target is fairly precise like the current bottom called out today.
With these updated forecasts in mind, it is time to make the first projections for Primary wave 2’s end location. Pre-estimate was early- to mid-December last week. The current projection is between December 12, 2023 and January 2, 2024. Most models keep the end point before the end of year holiday weeks but more data should clean up the date. The models are much stronger with large agreement in a tight window between 4460-4480. The secondary window and more conservative target is a top between 4420-4450. These are determined based on the below methodology. The derivative model does not provide values for waves 1-2 and A-B. The Intermediate wave A and B endpoints are nominally placed and not currently based on calculations (do not expect them to be official/accurate).
The overall path to the bottom looks like:
METHODOLOGY:
I operate a modified wave theory composed of Dow Theory and Elliott Wave Theory. All data is determined from comparing current wave locations with historical wave relationships. The listed percentages are based on previous movement extensions and retracement quartiles of the data. There is too much data to list all points but overlap of the quartiles based on specific relationships tends to point to more likely targets. The light pink levels are based on most specific data, light blue is slightly broader, and yellow levels are the broader set of data used. A red level typically indicates maximum historical move for the current wave throughout the historical data.
Derivative models take the annotated waves from the above methodology and compare specific ratioed-relationships to predict future movement based off of smallest standard deviations in processed models. ***Currently in beta testing to determine efficacy***
$SPX analysis short & longer termCBOE:SPX chart is quite INTERESTING.
We can see the obvious short term downtrend.
We're currently at the bottom part of the GAP.
Volume has been a lil lighter, holiday is likely the reason.
RSI broke the downtrend it was in
Maintained the longer term 2022 low up trend.
Can AMEX:SPY reach the top part of the current downtrend?
AMEX:SPXS AMEX:SPXL
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Weekly CBOE:SPX
Trading under the red moving avgerage.
Still looks similar to 2022.
Monthly AMEX:SPY
MACD & RSI bounce do not look very strong from 9/22 lows.
Does look like a lil bit like a cup & handle formation, interesting.
Time will tell if that is what is forming/formed.
TVC:VIX not showing much on the Monthly charts.
Weekly MACD & RSI is showing some strength.
/ES Is Set Up to Break Below The Equidistant ChannelBack in August, the SPX traded at the PCZ of a Bearish Butterfly with some Cypher Confluence and I played it through SPXL, a 3x Return ETF via puts, as seen here:
At the same time, the E-mini futures were trading at the PCZ of a Potential Deep Gartley which we now know to be a little bit more than Potential. Since then, it has broken through Local Supports and has formed a small intraweek trading range that seems to have been working on a redistributive price action over the last few weeks, as week by week, Positive Interest has continuously weakened and Negative Interest has gotten more and more aggressive. If this trend continues into the upcoming trading session, we will likely break below the range this week and target the levels of $3700-$3600, which would take us below all the Demand Lines of the Equidistant Channel. This would then set the price up to begin a bigger Bearish move that could end up taking it all the way back down to the 2020 and 2016 support levels.
$SPX very close to 2021 -2022 patternPosting the SP:SPX chart again.
Edits:
Added the yellow circles.
Added new blue dotted line.
IMO there's a good chance we could see something like what happened late 2021 to early 2022. We'll likely get some volatility here.
Weekly RSI looks in the same area.
AMEX:SPY AMEX:SPXL AMEX:SPXS
SPXL: Bearish Deep Crab with PPO Confirmation at HOP LevelThis is the 3x Leveraged ETF for the SPY, and at the moment we have a 3 Line Strike with a PPO Confirmation Arrow at the HOP level of a Bearish Deep Crab with Bearish RSI Divergence.
If this plays out, I think the SPXL will at least make a 0.618 Retrace of the range, but it could go as deep as 100% or even more.
SPY - Rising Trend Channel [MID -TERM]🔹POSITIVE signal with breakout resistance at 436 Rectangle formation.
🔹Support at 430 and resistance at 458, 477.
🔹Technically POSITIVE for medium long-term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
Will SPY continue to rise? LONGOn the 30- minute chart, SPY is in an uptrend continuing from the end of the last
trading week. I see this as continuing for the following reasons on analysis:
1. The Lorentzian AI machine learning indicator's last signal was a buy signal. Given its
specific accuracy of 73% as the table reports, I suspect the uptrend will continue until
a sell signal prints.
2. The VWAP anchored to July 6th shows price riding the upper VWAP bands suggesting that
buying pressure exceeds selling pressure over the past week.
3. The MTF RSIs are steadily rising with the lower TF above the higher TF and no evidence
of weakening or bearish divergence.
4. The zero-lag MACD shows lines crossed and are now parallel and about to cross over the horizontal zero line.
5. In the last trading day, the price ran up then momentum stalled for profit-taking and consolidation to rest for the next.
6. Trading volumes have been at or above the running mean throughout the recent past
showing higher than usual trader interest which bodes well for volatility to be played for
profit.
7. If I were looking for chart patterns, I would say that SPY is currently a high tight flag. It is expectant of bullish continuation
Overall, I have further interest in trading call options with a low time interval until
expiration. I will use intraday pivots on low time frames to select entries and pick
strikes based on expected moves in analysing VWAP bands or Bollinger Bands.