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SPY/SPX BARELY HANGING ONAMEX:SPY SP:SPX whats up guys hope everyone is having a good week. was having some technical difficulties earlier this week so wasn't able to post any updates so I decided to do a bit of a deep dive into SPY and take a look at all time frames. primarily at the daily and weekly. for the SPY I believe we must hold 415 for us to see any type of reversal to the upside. if we get a daily close below that level i think we could see accelerated selling all the way down to around the 400 level. i also go over the weekly chart for SPX and showed my short idea on the weekly which so far is playing out nicely. in that analysis you can see the long term price target for the downside correction is around 3500 short term i could see a reversal to the upside as long as earnings are decent which so far they have been imo. when deciding if im bearish or bullish...i am seeing more bearish tendencies in the market than bullish tendencies so i am going to have to continue with the short idea. specifically for the weekly. let me know what you guys think. exciting market conditions if you ask me. thanks everyone! happy trading mindset matters
AMEX:SPYShort
by MindsetTrad3r
3
$SPY 500: Strong Bullish Divergence!⭐7.86 Fib Mounted as strong support confirmed by a significant amount of volume (425) This support is valid by the VPVR and Bullish Divergence on the MFI. ⭐6.18 Fib Support mounted with large volume. This support 435 is valid due to the large VPVR node + volume. ⭐446 Resistance confirmed by VPVR and selling volume + Ichimoku Cloud Resistance. ⭐453 Resistance confirmed by 2.32 Fib and large VPVR node + selling volume. ⭐For bullish price action a 3D close above 446 is needed to reclaim Ichimoku Cloud support. ⭐Strong Bullish Divergence on the MFI hints for a breakout ⭐Options Chain bullish 70k Volume + 20k Open Interest at 450 which makes it a likely target. Lower targets than this are unlikely due to the bullish options chain. *WARNING* This thread is not financial advice. I am not a financial advisor.
AMEX:SPYLong
by Patriick2jz
SPY Prediction Update and New Prediction.Good Afternoon Traders, I hope all of you are having a great holiday and were able to benefit from my previous predictions, which turned out to be pretty close to perfect. Today, I'd like to make another prediction. We're still in a Ranging Market. It looks like it will only last another few weeks, but who knows, really. I've created 2 new prediction range boxes. We are getting a little more Bullish, but by no means are we in a Bull Market. As I said before, we will likely be hugging the 200MA until we have a clean break. Still a lot of unknowns at the moment continuing to feed into creating this Range. I expect some short term bearish PA followed by bullish recovery in the very short term. Check out my previous posts referred to above: Original Prediction: Febuary: Clearer image. March: Last March Post: As you can see In the chart above, the bullish continuation did, in fact, break through from that fib marked on the chart in this post; it moved up to the top fib, which is now approximately the red one on this current chart (462) . Clearer image of current chart: If you enjoyed/appreciated this post: Please like, subscribe,follow, support website , etc. Best Regards, Mike L. (UPRIGHT Trading)
AMEX:SPY
by UPRIGHTTrading
$US30 the glass house 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management !! This chart analysis is for reference purposes only !! $US30 has been consolidating outside of our bearish channel for the past 2 weeks. Many traders automatically assume that this is bullish, but appearances can sometimes be deceiving. My team still expects a strong bearish move to take place within the next couple of weeks, but it may retest 35350-35850 before that happens. Overall, the market appears to be waiting for a catalyst to justify an impulsive move down. Our guess is that repercussions/escalations from the Russian-Ukraine crisis will kick this move into motion before May arrives. If you want to see more, please like and follow us @SimplyShowMeTheMoney
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by SimplyShowMeTheMoney
Target reached 3/29/22, bullish close = final bull move (470)At the beginning of the week, I called SPX hitting 4626 and SPY 460 by the end of the week but it seems it has reached to the price a lot faster than expected. Moving forward, todays close is imperative to future movement as one more bull run might be imminent before the eventual correction. If SPX is to close around the 4620s, I could see it pushing one last time up to a total price of 4700+ specifically 4707. Once reached, there may be more of a reason to short the entire market even if temporarily to 4504. As for SPY , 470 is possible given the price closes bullish today and follows SPX movement. Thank you for reading.
AMEX:SPYLong
by MMinutes
1
Calling all Range Traders...Good Evening Traders, I hope you're doing well today. I wanted to give a quick update and clarification. As you can see in the chart above I had created 2 boxes. These are ranges I believe we will continue to stay in until the price discovery is more certain and market decides whether we're in a Bear or a Bull Market. Now, it's rarely talked about, because a lot of traders and investors see things in black and white, bull or bear, up or down; when really there's another direction and classification that I'd like to speak about. It has other names, but I call it a Ranging Market; this is when the market trades in ranges rather than trends; trends being uptrends (bull - HH & HL's) or downtrends (bear - LL & LH's) . What is a Ranging Market? Ranging Market's are opposite of Trending Markets (bull or bear), ones in which the price continues to move between higher prices and lower prices; the price action is range bound and moves mostly sideways. The range of prices can be small or large. If it's small price movement, it's typically referred to as chop, consolidation, or more plainly, 'sideways action'. Most only consider it for a short period, such as hours or days, but in reality they can last weeks or months. Now why the brief lesson on ranging vs trending markets? I believe we're in one, and they require a change to both analysis and trading techniques; we can skip the latter.Assuming I'm correct, which I could be wrong, knowing that we're in a Ranging Market (for likely a week or 2 more) should dampen the idea that a big breakout to the up or downside is right around the corner and any wave analysis may need some adjustments as well. With all that said, the above chart, which is still just a continuation of my January chart , shows the levels I believe we're still ranging. Let the 200MA be your guide. As the chart above shows , the H&S top (mid-candle right where the arrow down is on the left) that resulted in the 1st Lower Low (LL) shown, then moves up to hit a double top budding up against the 200MA resistance, then dropping to a recent Lowest Low around 410, bounced with high Relative Volume up... Went just above the trendline, pops back down quickly forming a double bottom... another weekly run up to the 200MA with a little more bullish confidence, moving just over the 200 to hit a fib/resistance for what looks like another bounce (although it is still hugging the 200MA, so we could see another try by the bulls, otherwise) toward the trendline around 439 or if that breaks 435-432. Just looking at the PA one might think, well obviously, it's a bear market..20% pullback..Going to tank soon...While the Bulls see we just hit a recent lowest low, that must have been the bottom... Neither are what I see. I see a bullish runup to the double bottom almost identical to the breakdown that followed, then a bullish gap-up, bearish gap-down, and yet again another bullish runup... Are we seeing a pattern here? Anyway, I hope you're doing well, whichever side of the trade you choose to be on. Comment, like, share, support, follow, etc. Cheers, Mike (UPRIGHT TRADING) Referenced January chart:
AMEX:SPY
by UPRIGHTTrading
SPY the Bulls Are Back In Town...Hello Traders, I hope you all are doing well. I just wanted to shoot a quick update for anyone a little shaken by the market or confused as to what's going on. TLDR: Yes, there are still geopolitical concerns, but at the moment it's not important to the market, because we've already seen the response of the world and it has strengthened relations of NATO and basically blocked off Russia from World Trade and Financially. The Market's prefer hikes over inflation, and technical trading signals are still nearly perfect (as seen in above and below charts). So we have our answer as to who's economy is really likely to crash. Although the US would like to help more, there are limitations as to what we (the US) and other countries can do without sparking a Cold War or WW3, so the markets are pretty content that everyone is threading that needle. Now, why did the market bounce off the fed announcements? Many people without context assume that tapering and rate hikes are a bad thing for the markets; their thought process is that it makes valuations less attractive, due to more difficult borrowing for companies and consumers... This idea isn't wrong, it's just that they're missing a few pieces of information in that logic. First, the markets like policy that are good for the overall economy. Tapering and hikes will help fight inflation; monetary tightening is a signal that the Fed believes the economy is on firm footing. That is a good thing. The market easily prefers hikes over inflation worries. Second, historically, while stocks tend to fall the month following rate hikes, they typically end the year up around 5%. Lastly, there is progress on the geopolitical front. The World has condemned Russia's leader's actions; as we see a constructive movement in negotiations between Ukraine and Russia, signs from China that it will roll back its broad regulatory crackdown and play a little nicer with the rest of the world. We do also predict gas prices to continue in a downward spiral and fall substantially in the coming months due to the panic buying subsiding, along with other geopolitical and psychological factors, which need not go into too much detail on. (It's important to note for those unfamiliar, the US is the #1 producer of crude oil, with about 20% of global supply, Saudis at around 12%, Russia 11%, and Canada at 6%). As such, the US is not reliant on Russia for oil; unfortunately, some of our allies are, to some extent. The Chart As a technical trader, that was a lot of fundamental analysis. Sometimes it's good to have both, especially when catalysts are often the driver on big movers. As I mentioned in my previous posts, technical trading has been on-point. Almost to the penny. On Weds, March 16th, SPY gapped up, perhaps on the positive geopolitical news mentioned. Now we're sitting on a trend reversal and (yet again) a retest of the 200MA. Honestly, I think we will hang around the 200MA even if we do break to the upside, at least for a month or two as I had predicted back in January (see below) . Please see for references. January. If you appreciated this please: Like, support, share, follow. Sincerely, Mike (UPRIGHT Trading)
AMEX:SPY
by UPRIGHTTrading
4