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Spy500

Uncertainty spreads among investors as they await more dataIn the aftermath of the latest Federal Reserve (FED) meeting and subsequent 25 basis points rate hike, SPX has been experiencing fluctuating price action, oscillating primarily between $4,520 and $4,600. This range-bound activity could indicate investors’ caution as they grapple with the implications of the FED's policy changes and monitor the incoming economic data to ascertain the overall market direction. Today, we will get an update on S&P Global Manufacturing PMI, ISM Manufacturing PMI, ISM Manufacturing Employment, and JOLTs Job Openings (note that we are not listing every data release, only ones important to us). On Thursday, we will get more information on initial jobless claims, S&P Global Services PMI, S&P Global Composite PMI, and ISM Services PMI. Then finally, on Friday, the unemployment rate and non-farm payrolls are scheduled to come out. We will wait for these figures and reassess our views accordingly. Illustration 1.01 The picture above shows the daily chart of SPX. Yellow arrows indicate the divergence between the price and technical indicators MACD and RSI; in addition to that, on the MACD’s graph, the signal line can be seen breaking above the MACD line, which is slightly bearish (but it could still be only a fakeout). Therefore, we will monitor these two indicators in the following days for any signs of a potential trend reversal. Technical analysis gauge Daily time frame = Bullish Weekly time frame = Bullish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPX
by Tradersweekly
2
FOMC MEETING Spy is on the come up 453 is next test pass that point 458 but with fomc meeting next week spy could see a decline. So lets time this out next looks green a couple more days of green but if spy gets lower then 447.50 then we go to 444-440 balling it. it can go that low if the fomc meeting goes south. but looks like we are in rise up is this a bubble or actually growth hard to say many stocks are still down and spy is a technology ETF. but if still stay green watch for 453 rejection once passed we go to 458 but watch for 453.
AMEX:SPY
by mikebatz
FrogAlgo: USA Economy💥It is important to understand that the US economy represents approximately 25% of the global GDP, despite having just 334 million people, which is around 4.25% of the global population. This context is crucial for comprehending various narratives prevalent in media and politics. Here are a few examples to illustrate this point 🧵: ♦️China, with 1.45 billion people (18.5% of the global population), contributes $18 trillion (18%) to the global GDP. ♦️India, with 1.4 billion people (18% of the global population), generates $3.4 trillion (3%) of the global GDP. ♦️Russia, with 146 million people (1.87% of the global population), produces $2 trillion (1.9%) of the global GDP. 💥When the BRICS nations (Brazil, Russia, India, China, South Africa) are combined, their 3.3 billion people (43% of the global population) contribute $26 trillion (26%) to the global GDP. 💥Despite the large population of the BRICS nations, their economic output barely matches that of the 334 million Americans. However, it would actually be beneficial for the US if the BRICS nations were to increase their GDP. As these 3.3 billion people become wealthier, they would become potential customers for American high-end goods and services. Consequently, the US would see increased profits. It is worth noting that the US dollar would strengthen in such a scenario, considering the 334 million Americans would have significantly more affluent customers to cater to. 💥Comparatively, Russia's 1.9% share of the global GDP pales in comparison to the US's 25% share. This is also true when considering the collective economic power of the 32 NATO member nations or the 50 countries supporting Ukraine. By engaging in actions detrimental to its own economy, such as the annexation of Crimea or involvement in Ukraine, Russia's leadership, under Putin, has effectively committed economic suicide on behalf of its people. This situation has created a humanitarian crisis without any tangible benefits for Russia. Even if Russia were to conquer Ukraine and the former Soviet bloc, the strategy of scorched earth is not conducive to maintaining a healthy and vibrant economy. 💥These examples serve to demonstrate how understanding this piece of information can help individuals better contextualize and discern between the plethora of narratives, whether accurate or unfounded, that circulate constantly in various domains.
AMEX:SPY
by A1TradingHub
S&P 500, 6/23/23For Friday, 4467.50 can contain session strength, below which the market remains the defensive into next week, possibly yielding 4257.50 over the next 2 - 3 weeks.   Downside Friday, 4416.00 can contain intraday weakness, while breaking/opening below 4416.00 allows 4357.75 intraday, where the market can place a daily low.   A settlement today below 4357.75 signals 4299.50 on Monday, 4257.50 by the end of next week, likely contain weekly selling pressures when tested, possibly into later July.   Upside Friday, pushing/opening above 4467.50 allows 4509.00 intraday, able to contain buying through next week and below which 4257.50 is attainable over the next several weeks.   Inversely, a daily settlement above 4509.00 will keep the longer-term objective at 4616.50 in reach over the next several weeks.
CME_MINI:ES1!
by SpecialeAnalysis
S&P 500, 6/21/23The 4195.75 long-term support area can contain selling through the balance of the year, above which 4606.50 remains a 3 - 5 month objective, the 4808.25, January 2022 all-time high expected by the end of the year.   On the way up, 4606.50 can contain monthly buying pressures, with a settlement above 4606.50 indicating the targeted 4808.25 within 3 - 5 weeks, where the broader market can double-top on a monthly basis.   Downside, a weekly settlement below 4195.75 would be considered a significant failed long-term buy signal, in essence indicating 3898.25 within 2 - 3 months.
CME_MINI:ES1!
by SpecialeAnalysis
Perfect storm breakout Several favorable factors indicate trend has changed. We had bounce off the 50 MA (Monthly). We set a higher low pivot. We had a breakout over a trendline from a cup and handle pattern. A BAM signal triggered on Jan 12th (bullish signal with excellent record). What more do you want? I am hoping for a pullback to the .38 Fibonacci line...but may need to settle for .23. Market may make it hard to get a good position. When the train leaves the station it doesn't back up to let late-comers get aboard. Many people clamoring this is a fake breakout. It may be...but price action is screaming we are going up for awhile. Use stops or keep close eye on market.
AMEX:SPYLong
by bluespark96
Climbing a wall of worryAfter breaking above the resistance near $4,200, SPX continued to grind higher for nearly two weeks. Currently, it trades close to the $4,350 price tag. Despite tomorrow’s Federal Open Market Committee (FOMC) meeting, the market is exceptionally complacent. That is reflected in the low value of the VIX that returned to levels unseen since February 2020. Technicals like MACD and RSI continue to support the rally on the daily time frame, with RSI being just slightly away from breaking above 70 points; if RSI manages to break above this level, it will be very bullish for the short term. We expect this occurrence to be accompanied by a test of resistance at $4,400. However, if RSI fails to perform a crossover and MACD starts to flatten, it will raise our suspicion about the potential trend reversal. In addition to that, we are paying close attention to the support near $4,325. If the price drops below this level, it will be slightly bearish. As for tomorrow’s FOMC meeting, general expectations are that the Federal Reserve will pause a hiking cycle and wait for more economic data to determine a further path for the monetary policy. That is because of the lagging effect of interest rates, which still have not hit the economy at full power. This decision might be viewed as an initial phase of pivoting and could act as another catalyst for the rally in the short term. The same positive effect can have today’s release of inflation data if it comes in cooler than expected. Overall, we think the short-term direction continues to favor bulls. In defiance of that, our view beyond the short-term/medium-term remains still inclined toward the notion that the U.S. economy is likely headed for a recession in the second half of 2023. Illustration 1.01 Illustration 1.01 shows the daily chart of the VIX index. Interestingly, despite SPX hitting new 52-week highs, the volatility index rose in the past two trading sessions. Illustration 1.02 Illustration 1.02 portrays the daily chart of RSI. Technical analysis gauge Daily time frame = Bullish Weekly time frame = Slightly bullish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXLong
by Tradersweekly
16
WITCHING FOLKSPlease don't get caught in the storm. scroll down to my previous postings about witching data. on the 13th we have FOMC data releasing as they have been inclined to pause interest rate hikes. however CPI data is released at 830 pre market. the crazy thing is over the past 3 CPI data releases Spy barely moved I remember almost all of last year when CPI released it was like earnings and the BIG WIGS WERE HATING AND STOPPED YET AGAIN A WAY FOR AVERAGE PPL TO GET RICH THATS WHAT THEY DO PLAY GAMES> anyway here on the 4hour we have bearish confluence forming . the know what's coming so they will try to hold this up probably until Thursday after noon. if your going to be placing puts please hedge your positions. because I expect the first move to happen wayyyyyyy before Friday.my next resistance is show above at 438, still yet no sell off and OMG look at TESLA contracts went from $70 to $700. You do not want to miss this fall.
AMEX:SPYShort
by Courtneyd
2
SPY S&P 500 Index ETF and the Debt Ceiling DealThe political climate is favorable for a small rally of SPY, the S&P 500 Index ETF, towards the next resistance level of $430. After several weeks of tense negotiations, President Joe Biden and House Republicans have reached an agreement in principle to address the debt limit and cap spending. The debt-ceiling deal is now finalized, and here are significant parts of the agreement: First, the agreement suspends our $31 Trillion debt ceiling until January 2025, providing some relief and avoiding immediate concerns. Additionally, the agreement ends the pause on student loan repayments, allowing borrowers to resume their payments. This decision aims to ensure the stability of the student loan system and address the long-term financial implications. Furthermore, the agreement includes stricter work requirements for low-income and older Americans who receive food stamps. These requirements are intended to encourage self-sufficiency and help ensure that federal aid benefits are effectively utilized. Regarding IRS funding, the agreement entails a $20 billion reduction from the initially proposed $80 billion budget. This reduction specifically targets the allocation meant to crack down on tax evasion by wealthy individuals and corporations. Moreover, the deal puts an end to the ongoing freeze on monthly student loan payments and interest. It also introduces restrictions on the President's ability to reintroduce such a freeze in the future. To avoid contentious debates until after the next presidential election, the agreement suspends the debt limit until January 2025. This decision provides a temporary relief from potential conflicts surrounding the debt limit. The agreement also implements new work conditions for Supplemental Nutrition Assistance Program (SNAP) recipients, raising the age limit for work requirements to 54. This measure aims to promote workforce participation and enhance the effectiveness of federal aid programs. Overall, this comprehensive agreement addresses various aspects of the debt limit and spending caps, aiming to strike a balance between fiscal responsibility and supporting those in need. My overall outlook is still bearish and i think the small rally could easily turn into a bull trap. Looking forward to read your opinion about it.
AMEX:SPYLong
by TopgOptions
1
The Debt Ceiling The debt ceiling in the US is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury. President Biden and House Speaker Kevin McCarthy are set to hold a direct meeting on Monday following a weekend of intermittent negotiations regarding the nation's debt ceiling. This meeting takes place just days before the government faces a critical "hard deadline" where it risks running out of funds to meet its financial obligations. The possibility of a government default is unprecedented and would have devastating consequences for the nation's economy. Yellen and economic experts have expressed concerns, highlighting the potential for the situation to become "catastrophic." In the past, raising the debt ceiling used to be a routine act carried out by Congress, enabling the Treasury Department to continue borrowing funds to cover the nation's already incurred bills. However, in recent times, the vote to raise the debt ceiling has become a point of political leverage, with lawmakers using it as a must-pass bill to push forward other priorities. House Republicans, who hold the majority this Congress, are currently refusing to raise the debt limit unless President Biden and the Democrats agree to implement federal spending cuts and impose restrictions on future spending. In my opinion, we will see a suspension of the debt ceiling to allow for negotiations to form and be completed. As a result, I have a short-term bullish outlook, followed by an anticipated drop to $392 after the announcement, whatever it may be. Looking forward to read your opinion about it!
AMEX:SPYShort
by TopgOptions
SPX lacks a trend Since April 2023, the Standard & Poor's 500 index has been going sideways, primarily fluctuating between $4,050 and $4,200. During this time, ADX has declined substantially on the daily time frame, reflecting the lack of a directional trend. We continue to be bearish on the index while waiting for a breakout from the narrow range. Illustration 1.01 Illustration 1.01 displays the same setup we introduced recently (with a bearish trigger below Support 1 and tight stop-loss above it); the significance of Support 1 grew with the breakout on 4th May 2023 (when it successfully halted the price decline). Technical analysis gauge Daily time frame = Neutral Weekly time frame = Neutral *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPX
by Tradersweekly
9
US500 S&P Technical Analysis and Trade IdeaIn this video we take a look at the #US500 #S&P closely, revealing that it has reached a substantial resistance level and rejected now finding support. Additionally, there is a gap in price below it and an accumulation of sell orders in the form of stop losses that could be a target for bigger players. Throughout the video, we delve into trend analysis, price action, market structure, and price gaps. We also briefly mention a possible trading opportunity.
UShort
by fxtraderanthony