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Spy500

SPY Channel Week in ReviewJust a follow up/review from last weekend's analysis on $SPY and a big part of our success is having a plan & knowing what to expect before it happens. Just from the 2 basic Channels (using simple trendlines), you can see SPY was GREEN all 5 days last week. Spy hit the Intermediate Trendline last Friday (5/20) and bounced off there for an expected return to the upper (Minor) level...SPY closed above the descending channel on Wed, following the release of FOMC minutes. From there, we had Targets (white dotted lines) drawn at 405 / 411 / 415.15 / & 420.9. Thursday & Friday achieved the first 3 and these levels were simply drawn from previous key lows. Our next chart idea will actually overlay just 1 of our algo's data on the intraday SPY chart and show you how simple yet powerful are the levels.
AMEX:SPY
by VeteranWS
1
Relief Rally?Hello Traders, I will get straight to the point today. It looks like a bit of a reversal, or is it a bear market relief rally? What I'm looking at: If price moves above around 408.80-409.5 and keeps momentum, watch out for a gap up around 412. This is likely a relief rally, and we are probably just reverting to back to the trend because we were QUITE a bit oversold, but we are seeing a low volume move upward. Like I said before to those who follow me here and elsewhere, the downtrend is weakening, but lets not get ahead of ourselves. This isn't like after COVID hit or March '09 (the month the Bull market was reborn), we LIKELY won't have a recovery like that without a catalyst (i.e. Ukraine war end, steep inflation drop, steep oil demand decline/supply increase -aka priced too high/Saudi production increase). Technically speaking, we're hitting a small supply zone around 406 it might push back down a little then move upward to keep the trend pattern going. Around 410.90 another Supply zone on the chart. We don't hit the big ones until 417+ but I don't think it's likely we'll make it up that far. I'm getting a little ahead in this prediction, but this is for preparation for my followers or anyone who needs a little guidance. Cheers, Mike (UPRIGHT Trading)
AMEX:SPY
by UPRIGHTTrading
$SPX: Meltup to $6k in 2022?? No, Meltdown: $2.7k-$3.5k There's been a lot of people that have been conditioned to buy the dip over the last two years, because every time that's happened, it's led to higher prices. There's people making bold calls that after this "small dip" we're going to turn around and meltup to $6k. I don't buy it. Looking at the structure of the chart, price action already looks bearish on lower timeframes but is starting to show bearish signs on higher timeframes (both the 2W and 1M timeframes). We just broke down out of this large upward channel, Heikin Ashi candles are showing a bearish trend forming on high timeframes and ichimoku is showing a wide separation of the tenkan and kijun on the monthly timeframe indicating that price needs to snap back to find a balance. 3 indications to me that price is going to move much further down. If you were to look at historical price action on this chart, you'd see that anytime there's been a wide separation of the tenkan and kijun, price as retraced. The widest separation came before the March 2020 crash. The spread between the two lines now is far greater than during that period indicating to me that the snap back down could be a violent one. My base case is that we fall somewhere between 20%-40% from these levels before continuing a move to the upside. I think this downside move is likely to take place this year 2022, and that we will bottom either later this year or in Q1 in next year. I've marked out key months for pivots in price action on the chart. Will update my views if I see things change.
SP:SPXShort
by benjihyam
7
SPY Game Plan for May 13, 2022 Make sure to observe the 392.50 area as spy resistance for now. If that resistance breaks, we must wait and have patience, then go long and never chase. Overall, spy daily RSI at 30. Significant consideration note to take. But still, plenty of room to go down as RSI is calculated and first, down to 30 can be a fakeout, then 50, fall again back to 30 RSI, which means price movement will be way different and can go down far beyond imagination. Two Scenario for tomorrow: First one: Observe the market from 7:00 am-9:30 am EST. If we see a sell of pre-market, then for sure, on market hours, we can touch the resistance of 392.50. then back down again. Second: If the resistance gets destroyed, wait for the cool off previous resistance to become support and go long from 392-394. OPTIONS Look at May 20, 2022, 380 puts if 392.50 area gets rejected and go long when resistance gets denied, then play with May 20, 2022, 405 calls.
AMEX:SPY
by UnknownUnicorn11669057
SPY 2008 dailys vs current daily with Burry tweet bout Nadir 180Two questions I had: how low will this go? I have no idea, so I used Burry's tweet suggestion. how many years will it take to recover SPY to the current level? I have no idea, so stretched out the pattern based on Burry's tweet suggestion. I still suck at charting, so don't use this. I actually thought we had one more last bounce, but looks like it's already dropping already. For this chart: I took a bigger picture view (curious how long it took for 2008 crash to recover to the same level as current pattern. Biggest assumption here is using Burry's recent tweet, which said something about Nadir being 10% below the most recent market crash.' The most recent crash was March 23 2020 (wonderful Covid lockdown times) when Spy was about 220 to 230 So 10-15% below (based on Burry's hypothesis) puts the bottom around 180. So, I used the same bars pattern to make the very bottom at 180, and then it gave the timeframe. Don't trade on this, it's just a hypothesis/theory, and I still am new to charting.
AMEX:SPYShort
by morekalbicom
1
SPY 2008 dailys vs current daily with Burry tweet bout Nadir 180I still suck at charting, so don't use this. I actually thought we had one more last bounce, but looks like it's already dropping already. For this chart: I took a bigger picture view (curious how long it took for 2008 crash to recover to the same level as current pattern. Biggest assumption here is using Burry's recent tweet, which said something about Nadir being 10% below the most recent market crash.' The most recent crash was March 23 2020 (wonderful Covid times) when Spy was about 220 to 230 So 10-15% below (based on his hypothesis) puts the bottom around 180. So, I used the same bars pattern to make the very bottom at 180, and then it gave the timeframe. Don't trade on this, it's just a hypothesis/theory, and I still am new to charting.
AMEX:SPY
by morekalbicom
2
DXY, And general market view [11May2022]Hello, I've been gone for some time now. busy with my job and backtesting and improving our code. Suffice to say, we saw a massive improvement in our backtest and also ability to capture psuedo-macro cycles, pretty stoked about that. Let's get over the boring stuff. Our algo was pretty efficient at capturing dollar moves and as of today, dollar (DXY) became green again. It had consolidation period for last week and current upper range is 106, which is pretty massive. Either the code is bugged or we are in for some pain. When DXY is making these big moves, the associated pairs such as EURUSD and USDJPY are also showing some incoming big moves. 1. EURUSD is bearish short term and long term, and currently at the top end of its today's range 2. USDJPY is bullish short term and long term, currently almost at the low end of its today's range, but volatility is still a bit high for y liking's 3. USDMXN however is mild bearish, probably MXN still remains as one of the safe haven like in the 90s? I don't know, but I will not be buying USD against MXN 4. Micron (MU), our analyst actually likes this a lot, but currently it has a strong short term bearish trend to 62, short it if you want. 5. JD.com is short term bearish and long term bearish too 6. SPY and QQQ are also bearish at the moment, expect a bounce or a straight up drop. I will not be touching them for now 7. Crude oil is bullish at the moment with top end at 115 and low at 92, do with that what you will. We have few more ideas for today, I'm just lazy to type them. If you want some insight on our crypto plan, please hit follow I will be posting our idea for crypto for this year soon.
TVC:DXYLong
by reddan256
1
$SPY April 2022 CPI data are scheduled to be released on 5112022The investment seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index. The Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the "Portfolio"), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the index.
AMEX:SPYLong
by BADQOMOCAWGOWLD