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SPDR S&P 500 ETF (SPY)

SPY Double Top Triple Top?Possible Double or Triple Top on AMEX:SPY ? The SPY has been hitting the same resistance level of 600.80 for the past two days. First, on November 24, 2024, and again on November 25, 2024, before pulling back. This repeated testing of the same level raises the question: are we forming a double or triple top? Will the SPY fail to break through this level, or will it finally push past it? Only time will tell, but we should be aware of this potential technical pattern. Double Top Two consecutive peaks: Two highs occur near the same price level, with a moderate decline between them. Valley in between: A noticeable low forms between the two peaks, which serves as a support level. Neckline: A line connecting the valley lows forms the neckline. Breakdown: The price breaks below the neckline, confirming the Double Top pattern. Volume: Decreasing volume on the second peak and increasing volume on the breakdown.
AMEX:SPY
by Paul_Hodls
SPY/QQQ Plan Your Trade For 11-26 : Inside-BreakawayAs we move closer to the Thanksgiving holiday, I want to remind traders that low liquidity is likely to drive extreme price swings throughout the markets this week and next. Many traders are already "taking a break" from the markets right now - so please trade with CAUTION. Trade smaller positions and don't get trapped in anything you can't handle. The markets will close on Thursday and have a half day on Friday. That means we are going to go about 3.5 days with no trading into early next week. Are you ready for that? If not, get into a position where you can settle in through the holidays and relax. Come back to the markets on Monday/Tuesday next week. I expect the SPY/QQQ to attempt to reject near the recent highs (yesterday) and for Gold and Silver to move into a bullish recovery phase after yesterday's selling pressure. The one thing I would warn trades about today is the potential for a low-liquidity BREAKDOWN in price for the SPY/QQQ as well as Gold & Silver. If there is some financial (US Treasuries) or breakdown event that prompts the markets into some type of Flash Crash - everything will go down. I'm not saying this IS going to happen - but it COULD happen. So, be prepared just in case. Bitcoin is struggling to find any support throughout this downtrend. I suspect the $72-$77k level may be the final support for BTCUSD. Buckle up. We could be in for a wild ride. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
4
Bull & Bear $SPY Weekly OptionsAMEX:SPY We expect the next two weeks through Thanksgiving to be quiet before we continue on this rally into the end of year through all-time highs. This week we are focusing on the range from $583 up to $598. We have weaker levels at $586 and $591.70. Here are our weekly options contracts for both sides of the trade. For confirmation, we use 15-30 minute candle closes over/under our entry level. $590 CALL 12/2 Entry: Retest Confirmation OVER $586 or $583.56 Targets: ($586), $588, $591 $584 PUT 12/2 Entry: Retest Confirmation UNDER $583.56 Targets: $580.90, Long-term trendline
AMEX:SPY
by PennyBois
S&P500 (SPY) Hits Target #2 Today!Traders, though we've still got a ways to go to our final target of 670-700 on the SPY, it is worth celebrating our direct hit of 600 today. I remember a year ago drawing out 563 as a first target for our blow-off top and I was laughed at. Bears were in their mood and hungry. They wanted more blood. But a combo of our Elliot Wave and a daily inverse head and shoulders showed us exactly where we would hit. Then I spotted this nice cup and handle on the weekly. If you remember, it was almost invalidated with that China carry trade flash crash. But I stood my ground and stated that we would need to see another weekly open and close below our neckline before the bet was off. That did not happen and we are well on our way to that 670-700 final target. However, before we get there, I do believe our 600 level on the charts will provide some psychological resistance. Admittedly, this was more of a guess than anything when I had drawn it up and placed it on my chart several weeks ago. But now, we are seeing overbought conditions on both the daily and weekly charts. Are we a bit over-heated? I think we may be and should be prepared to see a bit of a drop, or at least a week or so of sideways price action, before we break 600. Unlike my first target at which I sold and buy the carry trade dip for massive profit, I don't know that I will be selling here. 600, as I stated already, was more of a guess than anything. But I am pretty decent at making these guesses. Experience and lots of psychology and chart study has taught me. Before I get ahead of myself though, let's watch and see what the market decides to do next week. ✌️ Stew
AMEX:SPY
by stewdamus
1
SPY/QQQ Plan Your Trade For 11-25-24 - Carryover TrendToday's pattern is a Carryover in Trend mode. Obviously, this is a holiday week, and because of low liquidity, I expect to see moderately wild price volatility. Stay cautious, as price moves could be exaggerated this week. Gold and Silver are still attempting to break higher and trading in a consolidated sideways price channel. BTCUSD pauses into the holiday week. This would be a good week to pause, read a good book, and avoid the risks in the global markets. This shortened trading week will likely result in very wild price swings. Stay cautious. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SILJLong
by BradMatheny
Gold Spot intraday setup. The Pushmi - Pullyu animalRemember Dr. Dolittle? He was a vet who could talk to animals. One of the rarest was the “pushmi-pullyu,” a llama with two heads (one head was where the ass ought to be). The pushmi-pullyu was a gentle creature that did not like to be stared at. And yet the other animals in Africa convinced him to go with the good Dr., and be put on display in Europe, because Dr. Dolittle was a kind soul who needed money to look after all the animals in his “care”. It's gone a bit since Gold explosion last week, due to Biden's gaffe to authorize the yellow/blues regime use US-made missiles inside Russia's legal area, while the rods of Russia's retribution hanged like the sword of Damocles over all of Europe, on the basis of reciprocity. Last week Gold spot added +153 US Dollars just in 5 Days. That was the best in history ever 1-week return, since January, 1980. Additionally, in percentage points Gold spot added +5.97 percent in a week. It was the 3rd best 1-week return over past decade. Gold spot in Euro OANDA:XAUEUR at the same time continues its gain 11th straight month in a row. The main intraday graph is for Gold spot OANDA:XAUUSD , and it indicates that Gold has retraced a bit to its key $2670 level (that was discussed in earlier published ideas), and ready to take Adv. again, since Trump-a-rally rolled out into the all-the-world fart.
OANDA:XAUUSD
by PandorraResearch
SPY Ascending Triangle pattern AND Rising WedgeAMEX:SPY Printing a nice ascending triangle pattern along a rising wedge. Could go either way as marked out but considering last weeks action the time for the rally of santa is here as we head into the day of the great Turkey. Some fat wall street bankers have to cover and generate returns they keep pushing people out of positions just to buy them up. Very likely we set a new ATH on SPY this week. We just as easily could reverse as rising wedges tend to be bearish signals.
AMEX:SPYLong
by Paul_Hodls
#202447 - priceactiontds - weekly update - sp500 e-mini futuresGood Evening and I hope you are well. tl;dr sp500 e-mini futures: Bullish. 5 consecutive days where bears tried and bulls closed at the highs. Buy signals do not get better than this. Above 6000 we see 6050 and most likely an acceleration up to new highs. 6100 and 6150 the obvious next targets. Bears need a daily close below 5850 and would still have a bigger bull trend line to break there so the downside is likely limited. Quote from last week: comment: 50% retracement hit and market closed above it on Friday. My preferred path for next week is a huge bull reversal higher. Is this likely after 2 strong bear days? No it’s not, so I have to wait for either side to show a clear new direction or continuation. If this goes to 5800 without me, so be it. I think after such a big rally with follow through buying above 6000, a retracement to 50% is a buy and not a sell. comment : Bullish bias I had, bullish it was. Market looks like it wants up bad. Every dip is bought heavily on increasing volume. Time is now to get above 6100 or we won’t get it at all. Market is beyond overvalued, overbought and the poor late bulls are just arriving. Guess who will be left holding the bags again. current market cycle: Bull trend key levels : 5850 - 6150 (maybe even 6200) bull case: Last hurrah. 6100 is my first target but can absolutely go beyond 6200. Anything below 5800 would be the end of this. I don’t feel the need to explain this further. The chart is crystal clear. I have written about this blow-off top for many weeks. Just don’t forget to take profits before this turns badly. I do think the odds of this closing 2024 below 6000 are low but can absolutely happen. These bullish profits since August are outrageous and once the run for the exits begins, it will be ruthless. Invalidation is below 5800. bear case: Bears gave up on Friday. If they can’t get below 5900 on Monday, we will see a meltup. No bear will come around big time before 6050 and even then I think they will let the bulls show signs of exhaustion before they be aggressive. Invalidation is above 5800. outlook last week: short term: I want to join the bulls again. Need strong confirmation first though. Still no interest in selling as of now. → Last Sunday we traded 5896 and now we are at 5987. Perfect outlook. Hope you made some. short term: Bullish all the way. If market closes below 5900 I would turn neutral and daily close below 5800 would probably be the end of my bullish thesis and I turn bear. medium-long term - Update from 2024-11-24: 6100+ are my last targets for the bulls before this bubble begins to pop or at least deflate. current swing trade: None chart update: Added potential bullish 5-wave series.
CME_MINI:MES1!Long
by priceactiontds
SPY/QQQ Plan Your Trade For 11-22: Tmp-Bottom PatternToday's Temp-Bottom pattern suggests the SPY/QQQ will attempt to move downward - trying to find support. If this pattern plays out as I suspect, we'll see the SPY and QQQ move lower, with the SPY attempting to move to the 588-590 area and the QQQ attempting to move to the 499-500 area. I still believe the current setup promotes a breakdown in price based on the current Flagging formation related to the broad Excess Phase Peak pattern. Nothing tells me the markets are going to rally at this stage. Unless we get above the Peak levels of these patterns, the most logical outcome is a breakdown in price leading to a Phase #3 EPP consolidation low. Gold and Silver are starting to make a very big recovery rally - just as I suggested weeks ago. It is great to see this move in Gold - although Silver is lagging a bit. Silver will rally, but it will rally slower than Gold at this point. There is a real chance Gold could be trading above $3000 before the end of 2024. Buckle up. BTCUSD came within $1000 of my $100,500 target level overnight. WOW. This last $1000 move higher should be reached today. Once we get above $100,500 on BTCUSD, expect it to try to roll into a new pullback and setup a new EPP Flagging formation. That is what price does, it is either TRENDING or FLAGGING. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
4
Value stocks shine bright, amid Growth stocks depressionValue investing is an investment strategy that involves picking stocks that appear to be trading for less than their intrinsic or book value. Value investors actively ferret out stocks they think the stock market is underestimating. They believe the market overreacts to good and bad news, resulting in stock price movements that do not correspond to a company's long-term fundamentals. The overreaction offers an opportunity to profit by purchasing stocks at discounted prices. Warren Buffett is probably the best-known value investor today, but there are many others, including Benjamin Graham (Buffett's professor and mentor), David Dodd, Charlie Munger (Buffet's business partner), Christopher Browne (another Graham student), and billionaire hedge-fund manager, Seth Klarman. The main represented technical graph is for SPDR S&P 500 Value ETF (SPYV) that invests in the committee-selected S&P 500 with focus on value stocks. The Index selects stocks from the S&P 500 that exhibit these fundamental value characteristics: (i) book value to price ratio, (ii) earnings to price ratio, and (iii) sales to price ratio. To be included in the index common stocks and REITs must meet certain liquidity criteria and must have a positive as-reported earnings over the most recent four consecutive quarters (measured using the sum of earnings over those quarters) and for the most recent quarter. Top 10 AMEX:SPYV components, incl. weight. 1) Berkshire Hathaway Inc. Class B NYSE:BRK.B 3.97% 2) JPMorgan Chase & Co. NYSE:JPM 2.88% 3) Exxon Mobil Corporation NYSE:XOM 2.43% 4) Johnson & Johnson NYSE:JNJ 1.93% 5) Walmart Inc. NYSE:WMT 1.65% 6) UnitedHealth Group Incorporated NYSE:UNH 1.63% 7) Bank of America Corp NYSE:BAC 1.28% 8) Procter & Gamble Company NYSE:PG 1.21% 9) Chevron Corporation NYSE:CVX 1.16% 10) Costco Wholesale Corporation NASDAQ:COST 1.14% The basic concept behind everyday value investing is straightforward: If you know the true value of something, you can save a lot of money when you buy it. Most folks would agree that whether you buy a new TV on sale, or at full price, you’re getting the same TV with the same screen size and picture quality. Stock prices work in a similar manner, meaning a company’s share price can change even when the company’s valuation has remained the same. This means, strictly speaking, there is no such thing as a true, or intrinsic, value of the stock of a given company. But there are relative values. Value investing developed from a concept by Columbia Business School professors Benjamin Graham and David Dodd in 1934 and was popularized in Graham's 1949 book, "The Intelligent Investor." Just like savvy shoppers would argue that it makes no sense to pay full price for a TV since TVs go on sale several times a year, savvy value investors believe stocks work the same way. Of course, unlike TVs, stocks won't go on sale at predictable times of the year such as Black Friday, and their sale prices won’t be advertised. Value investing is the process of doing detective work to find these secret sales on stocks and buying them at a discount compared to how the market values them. In return for buying and holding these value stocks for the long term, investors can be rewarded handsomely. Intrinsic Value and Value Investing In the stock market, the equivalent of a stock being cheap or discounted is when its shares are undervalued. Value investors hope to profit from shares they perceive to be deeply discounted. Investors use various metrics to attempt to find the valuation or intrinsic value of a stock. Intrinsic value is a combination of using financial analysis, such as studying a company's financial performance, revenue, earnings, cash flow, profit, and fundamental factors. It includes the company's brand, business model, target market, and competitive advantage. Some metrics used to value a company's stock include: Price-to-book ( P/B ), which measures the value of a company's assets and compares them to the stock price. If the price is lower than the value of the assets, the stock is undervalued, assuming the company is not in financial hardship. Price-to-earnings ( P/E ), which shows the company's track record for earnings to determine if the stock price is not reflecting all of the earnings or is undervalued. Free cash flow , which is the cash generated from a company's revenue or operations after the costs of expenditures have been subtracted. Free cash flow is the cash remaining after expenses have been paid, including operating expenses and large purchases called capital expenditures, which is the purchase of assets like equipment or upgrading a manufacturing plant. If a company is generating free cash flow, it'll have money left over to invest in the future of the business, pay off debt, pay dividends or rewards to shareholders, and issue share buybacks. Of course, there are many other metrics used in the analysis, including analyzing debt, equity, sales, and revenue growth. After reviewing these metrics, the value investor can decide to purchase shares if the comparative value—the stock's current price vis-a-vis its company's intrinsic worth—is attractive enough. Fundamental thoughts Were you ready or not, but still US interest rate is at the highest degree over the past decades (basically due geopolitics tensions), while high borrowing cost is inappropriate to internal US macroeconomic conditions (weakening labor market, weakening housing sales etc). This is why growth stock will not pump forever, meaning that no one is at the top over so-called "Mag Seven" hyped stories. At the same time, the main technical graph is for SPDR S&P 500 Value ETF (SPYV) indicates on Reversed Head-and-Shoulders technical structure in development, as further gain I am sure has to come.
AMEX:SPYV
by PandorraResearch
2024-11-21 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Neutral below 5990, max bullish above. Bearish only below 5900. I have the close near a bear and a bull trend line, so tough spot for any prediction. I do think after so many attempts by the bears, they have given up and we are now free to do the second round of this blow-off top. Consider me surprised if we continue in my drawn bull channel and bears can get this down 60+ points again. comment : Daily chart tells you 4 consecutive bull bars on increasing volume. Very high chance tomorrow the bears will give up and we test 6050+ again. The bear trend line could still be valid or not, we will only know tomorrow. Above 5980/5990 we will see an acceleration upwards. On the 1h tf you can make a case for 5980 being at the crossing of bull and bear trend line but we will have an answer tomorrow morning. current market cycle: bull trend key levels: 5855 - 6100 bull case: Higher lows and higher highs. Bulls want a retest of the ath and above. I have a measured move target at 6150 and even above 6300. Bulls have all the arguments on their side for a second leg up but to get it, they would have to prevent the market from getting another strong move down to below 5920. It should probably stay above 5950 to trap many bears who sold the highs again. Invalidation is below 5940ish. bear case : Bears do not have much tbh. They sold every high the last days but selling is getting weaker and they can only do it so often before they stop and will only try higher again. Best case for bears is to stay below 5990 and do what we did the whole week, sell the highs for at least 60 points. Invalidation is above 5990. short term: Bullish. Above 5990 uber bullish for new ath. Neutral below 5950 and below. Only below 5800 I turn bear. medium-long term - Update from 2024-11-16: So the top definitely qualifies as a blow-off top but the question if we continue further up, is still valid. It is possible that we are already inside the correction and if we continue below 5860, I highly doubt bulls can get above 6000 again. Given the current market structure, I won’t turn bear because the risk of another retest of the highs or even higher ones are just too big. current swing trade: Nope trade of the day: Same as dax. Yesterdays’ lows held and longs around 5905 were beyond amazing.
CME_MINI:MES1!Long
by priceactiontds
Update: GOLD, SILVER, NVDA, SPDR Sectors, SPY, QQQ & MoreThe markets are really struggling this morning. The strong selling after the open is likely an indication traders are not buying into the hype right now. NVDA earnings hit and drove the markets a bit higher into the open. I see this selling pressure as a BIG SHIFT into my Anomaly Event. Gold & Silver are reacting to the downside. SPTD sectors, particularly XLE (Energy) is still showing strong upward trends - while many of the others have already started to move downward. I'm watching XLF and XLRE for a breakdown event. The SPY & QQQ are showing broad weakness right now. Prepare for my Price Anomaly Event. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
COMEX:SI1!Short
by BradMatheny
4
SPY/QQQ Plan Your Trade For 11-21 : Harami Inside PatternToday's Pattern suggests the SPY will consolidate in a Harami-Inside day type of price action. In today's video, I highlight the continued potential for a price Anomaly event, even though we are seeing mostly post-election bullish price activity. I do believe the proposed Anomaly event is highly likely headed into the Thanksgiving & Christmas holiday season. Gold and Silver may stall a bit before attempting to rally further. Silver is not reacting similar to Gold, thus I have concerns that metals may stall a bit before attempting a bigger move higher. BTCUSD is on track to rally up to $100k - just as I predicted. Get some today. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
9