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SPY I Bullish rally and more continued growthWelcome back! Let me know your thoughts in the comments! ** SPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
SP:SPXLong
by BKTradingAcademy
3
Comprehensive Technical Analysis: SPX 10-Minute ChartThis SPX 10-minute chart shows a clear intraday shift from a bearish to a bullish trend, accompanied by multiple technical signals. Let’s break down the analysis across different technical components: 1. Trend Analysis: Initial Downtrend: The session started with bearish momentum as indicated by Put Signals and declining price action. The lower lows created a brief bearish trend that ended with a strong reversal. Bullish Reversal: The reversal is confirmed by a series of Call Signals after a strong bullish breakout from the previous consolidation zone. The price broke above a significant resistance level around 5,731.94, leading to a steady uptrend. 2. Moving Averages: Short-Term Moving Average (Orange Line): This acts as immediate support during the bullish run. The price consistently stays above this line, indicating short-term bullish strength. The slope of the moving average is steep, reflecting increasing bullish momentum. Mid-Term Moving Average (Blue Line): Positioned further below, the blue moving average provides a broader support level. This indicates that the medium-term trend remains supportive of the upward move, showing a well-established bullish context. 3. Heikin Ashi Candles: Bullish Momentum: The Heikin Ashi candles display a strong bullish pattern with several consecutive yellow candles and minimal lower wicks, indicating reduced volatility on the downside. Temporary Pullback: A few red candles appear, marking brief consolidation but not a trend reversal. The continuation of yellow candles afterward confirms sustained bullish pressure. 4. Key Signals and Levels: Entry Long: A long entry signal is observed after the breakout around 5,731.94, which was an excellent point for entering the bullish trade. Exit Long: The Exit Long signal near 5,776.76 suggests taking profits after the bullish move. This level now serves as short-term resistance. Support Levels: Immediate Support: 5,755.43 – A pullback to this level would still align with the bullish structure as long as it holds. Major Support: 5,731.94 – This level marks the breakout point, acting as a strong floor for further bullish moves. 5. Volume and Momentum: Although volume is not displayed, typically such strong moves (as indicated by Heikin Ashi and moving averages) are accompanied by rising volume. Momentum: Bullish momentum remains high, supported by consistent upward price movement and the sustained hold above the moving averages. 6. Resistance and Future Outlook: Immediate Resistance: The price is facing resistance at 5,776.76. A break above this could open the path to higher levels, potentially testing psychological levels like 5,800. Continuation or Pullback: If the price breaks above 5,776, we can expect a continuation of the uptrend. However, a failure at this resistance might lead to a short-term pullback to 5,755 or even 5,731. Conclusion: The chart reflects a strong bullish reversal with clear signals of upward momentum. Traders should watch the 5,776 level for a breakout confirmation or potential pullback to the key support levels at 5,755 and 5,731. Maintaining the trend above the orange and blue moving averages will be crucial for sustained bullish movement.
AMEX:SPYLong
by Deno_Trading
SPX 7-Minute Chart Analysis: Identifying Bullish MomentumThis SPX (S&P 500 Index) 7-minute chart provides a look into intraday bullish momentum using Heikin Ashi candles and moving averages. Here’s a breakdown of the key points and signals observed on this chart: Key Indicators and Signals: Call Signals: The chart shows multiple “Call Signal” indicators (in green) along the trend, which highlight points where buying momentum is potentially entering the market. Each of these signals aligns closely with support areas or pullbacks within the uptrend, offering opportunities for entries in line with the prevailing trend. Moving Averages (Orange and Blue Lines): Orange Line (VWAP): The orange line tracks closer to price action and appears to act as a dynamic support level, with prices bouncing off it several times as the trend progresses upward. This moving average helps confirm the short-term bullish trend. Blue Line (50 EMA or SMA): The blue moving average is further from the price but shows the overall upward trend. The price remains above this line, further confirming that bullish momentum is intact. Heikin Ashi Candles: The Heikin Ashi candles show consistent bullish candles (yellow) with few lower wicks, which indicates strong buying pressure. The limited presence of red candles reflects minor pullbacks rather than trend reversals, which is typical in a sustained uptrend. Gray Support Zone(ORB): There’s a gray support zone below the price AKA the opening range breakout, which was tested but held successfully. This area marks a key support level, as each time the price neared this zone, it bounced back, showing that buyers are defending this level strongly. Analysis and Outlook: Bullish Trend Confirmation: The consistent uptrend in SPX, supported by both moving averages and the strong Heikin Ashi candles, suggests that bullish momentum is likely to continue. The multiple “Call Signals” give confidence in the trend’s strength, indicating potential for further upside. Entry and Exit Opportunities: You could use the pullbacks to the orange moving average or gray support zone as potential entry points, aligning with the overall uptrend. Watch for continued “Call Signal” alerts near these areas for high-probability entries. Key Levels to Watch: Support: Gray zone around 5,719 - 5,720 and the orange moving average. Resistance: Look for any signs of resistance at psychological levels like 5,740 and 5,750, where some profit-taking might occur.
AMEX:IWM
by Deno_Trading
SPY Multi-Timeframe Analysis: S&P 500 ETF Trust (SPY)1. Weekly Chart: Uptrend Intact: The weekly chart shows that SPY continues to trade within a broader uptrend, consistently making higher highs and higher lows. It has held above its key moving averages, particularly the 50-week moving average (blue) around $515. MACD Momentum: The MACD histogram shows continued positive momentum. This suggests that bullish sentiment remains strong, with no significant reversal signals yet. Key Resistance: We are testing the $577 level, which appears to be a significant resistance zone. If broken, SPY could extend toward new all-time highs. 2. Daily Chart: Testing Resistance: The daily chart provides a clearer view of the immediate resistance at $577. We’ve seen several attempts to break through this level, but so far, the price has been contained below it. Moving Average Support: The 50-day moving average (green) has acted as strong support, currently around $555.80. As long as SPY holds above this, the bulls remain in control. Momentum Indicator: The MACD on the daily chart is trending positive, showing increasing bullish momentum. This signals that a breakout above $577 is likely if this momentum continues. 3. 4-Hour Chart: Bullish Momentum Building: The 4-hour chart shows a series of higher highs and higher lows, indicating the bullish momentum is building. Price has been supported by the 50-period moving average at $564.10. Immediate Resistance: The key level remains $577. A clear break above this resistance level on strong volume could signal further upside, potentially pushing SPY toward the $580-$585 range. MACD Shows Caution: While the MACD remains in the green, it’s showing early signs of slowing momentum on this timeframe. This suggests that a brief consolidation or pullback might occur before a breakout. 4. 30-Minute Chart: Tight Range Formation: On the 30-minute chart, SPY is trading within a tightening range, with support around $572.21 and resistance at $577.11. Key Trendlines: We can observe two converging trendlines (green and red), which often precede a breakout. If SPY breaks above the red trendline (around $577), it could lead to a strong upward move. Conversely, a break below the green trendline would signal a potential retracement. Bullish Outlook: SPY remains in a strong uptrend across multiple timeframes, with positive momentum indicators and key moving averages providing solid support. The next critical level to watch is $577. A sustained break above this could see SPY move toward the $580-$585 range, continuing the bullish trend. Risk of Consolidation: However, there is a risk of short-term consolidation, especially on the lower timeframes, before any major breakout occurs. A drop below $564 on the 4-hour chart or $572 on the 30-minute chart could indicate a deeper pullback.
AMEX:SPYLong
by Deno_Trading
1
SPY Advanced Analysis by Deno Trading: What’s Next for the S&P 5Let’s dive into the SPY analysis across multiple timeframes, looking for key insights on where the market could be headed. I’ll break it down step by step so it’s easier to follow along. 30-Minute Chart Overview: Current Price Action: We’re sitting around $569, and what’s really interesting is that SPY has been consolidating after hitting a recent high of $570. The market is in a bit of a tug-of-war between bulls and bears, and we’re right at a pivotal level. Key Resistance: The $570 - $574 zone is a major resistance level. Every time we’ve tested it recently, we’ve seen the market pull back, indicating strong selling pressure. This zone is critical, and we’ll need to break above it with volume to see any further upside. Support: On the downside, the first level of support is around $565, followed by $561, which aligns with the 50-period moving average on the 30-minute chart. If the price breaks below this level, we could see further downside pressure. 4-Hour Chart Insights: Moving Average Support: On the 4-hour chart, we’re seeing strong support at $561, where the 50-period moving average has been acting as a floor for recent price action. As long as SPY holds this level, the bulls still have a chance to regain control. Potential Bullish Scenario: If the price holds $561 and pushes higher, a break above $574 could take us to new highs for the year, potentially testing levels above $580. Bearish Case: If we fail to hold $561, I’d expect a move down towards $552, where the next level of support lies. This level has acted as both resistance and support in the past, making it an important area to watch. Daily Chart Breakdown: Longer-Term Uptrend: The daily chart shows that SPY is still in a broader uptrend, holding above the 200-day moving average, currently sitting around $552. This level has provided a solid base throughout the year, so as long as we remain above it, the long-term trend remains bullish. Current Resistance: The $570 - $574 resistance zone is evident here as well. This level marks the highs from September, and breaking it would signal the market’s willingness to push towards $580 and beyond. Weekly Chart for Perspective: Larger Timeframe: The weekly chart tells a similar story. We’re hovering around $570, right at a major resistance level. The 50-week moving average, sitting around $512, is well below the current price, suggesting we still have a cushion before a significant breakdown would occur. What to Watch: If we break $574 on the weekly chart, we could see a massive bullish continuation. However, failure to break this level could lead to a bigger pullback to $550 or even $530 in the weeks ahead. Conclusion & What I’m Watching: Bullish Breakout Scenario: If SPY breaks above $574 with strong volume, we could see a rally towards $580 or higher. This would confirm that buyers are back in control. Bearish Rejection Scenario: On the flip side, failure to break this resistance could lead to a pullback towards $561 or even $552. If we break below those levels, the bearish case strengthens, and we could see further downside. Final Thoughts: Right now, we’re at a pivotal point. The next few trading sessions will determine whether we’re gearing up for a breakout or a more significant pullback. I’m watching the $570 - $574 level closely for signs of either bullish continuation or rejection.
AMEX:SPY
by Deno_Trading
SPY 30-Minute Chart Analysis: Bearish Channel FormingLooking at the SPY 30-minute chart, the price is clearly in a bearish channel, with each rally getting rejected and lower lows being made consistently. Let me walk you through the key details. What’s Happening: Downward Channel: The price is following a downward-sloping channel, which began forming at the peak near $563. Since then, the price has been steadily declining, with lower highs and lower lows, bouncing off the upper and lower trendlines. Resistance at $546.70: There was a strong rejection from the $546.70 level, further confirming this area as a key resistance. Every time the price approaches this level, sellers step in aggressively. Key Support at $539.60: We’re currently hovering just above this level. If we break through $539.60, the next key support zone lies around $528.44, which could be the next target for sellers. What I Expect: Bearish Continuation: Given the strength of the downward channel, I’m expecting more downside. If $539.60 fails to hold, we could see a further drop towards the $528.44 level. Possible Bounce: On the other hand, if the price finds support around $539.60, we might see a short-term bounce back toward the upper trendline, around $546.70, before more selling pressure sets in. Final Thoughts: Right now, SPY is clearly in a downtrend, and I’m watching the $539.60 level closely. A break below it could open the door for further declines, but a bounce from here could present a short-term trading opportunity. Stay cautious as the bearish momentum continues!
AMEX:SPY
by Deno_Trading
SPY 5-Minute Chart Analysis Targeting Opening Range BreakoutLooking at the SPY 5-minute chart, we’re seeing some clear bearish signals after what seemed like a potential recovery. Let me walk you through the main things that stand out. What I’m Seeing: Resistance at $554.41: The price reached a high of $554.41 but failed to hold, showing clear rejection at this level. This resistance has become a key point, as each attempt to break above it has been met with selling pressure. Drop to $541.77: We’re now seeing a sharp decline, with the price currently sitting around $541.77. This steep drop indicates that the sellers have firmly taken control. Failed Support at $548: Earlier, $548 was providing some support, but once that level broke, it led to a cascade of selling down to the $541 - $542 zone. What I Expect: Further Downside: Given the current momentum, I wouldn’t be surprised if we test the $540.97 level soon. If this level breaks, we could see a deeper drop, potentially targeting the $540 psychological level or even lower. Potential Bounce: If buyers step in around this $541 zone, we might see a short-term bounce. But unless we reclaim $548, I’m not convinced that a reversal is coming. My Takeaway: Right now, the price action is heavily favouring the bears. The failed break above $554 and the sharp drop tell me to stay cautious. If I were trading, I’d lean towards short positions unless we see a strong reversal above $548. Let’s see how it unfolds!
AMEX:SPYShort
by Deno_Trading
SPY 10-Minute Chart Analysis - September 3, 2024AMEX:SPY The SPY has been trading in a well-defined range over the past few sessions, bouncing between support and resistance levels like a pinball. Right now, we’re seeing a key moment where SPY is testing the lower boundary of its trading range. Current Setup: Resistance Zone: The upper boundary around 5,641 has consistently acted as a ceiling for SPY. Every time the price reaches this level, it gets knocked back down, indicating strong selling pressure. Support Zone: On the other end, the support around 5,560 has held up well, with buyers stepping in to defend this level each time it’s been tested. SPY is currently hovering just above this support zone, which could be a critical area to watch. What’s Happening Now: SPY is testing the lower end of the range, around 5,573.91, after a sharp drop from the resistance. The price is attempting to bounce, but the question is whether this support will hold, or if we’re looking at a potential breakdown. Key Levels to Watch: Break Above: If SPY can gather enough momentum to push back towards the 5,641 resistance and break through it, we could see a significant move to the upside. This would signal that buyers have regained control. Break Below: On the flip side, if SPY fails to hold above the 5,560 support, we might see a more extended decline, potentially opening the door to lower levels. Summary: SPY is at a crucial juncture. The battle between buyers and sellers is heating up as the price hovers near the lower support of the range. Traders should keep a close eye on these levels, as a break in either direction could dictate the next significant move for SPY. Stay alert and be ready to act depending on how the market reacts in the coming sessions.
AMEX:SPYLong
by Deno_Trading
2
Why ORB and VWAP Have a High Success Rate - Part 2Previously in the Opening Range Breakout (ORB) and the Volume Weighted Average Price (VWAP). In Part 1, we dove into the basics and all the important aspects of the ORB, but now let's explore why these strategies often lead to high win rates. The Psychology Behind ORB The ORB is powerful because it captures the market's initial reaction to overnight news and pre-market sentiment. Think of it like the opening scene of a movie: it sets the tone for what’s to come. When the market breaks above or below this range, it’s like the plot thickening—traders jump in, driving momentum in that direction. This momentum is often self-reinforcing, leading to sustained moves that traders can capitalize on. VWAP: The Institutional Trader’s Compass VWAP, on the other hand, is not just another line on the chart. It's the line in the sand for many institutional traders. It represents the average price weighted by volume, and it’s where big players often aim to execute their trades to ensure they’re getting a fair deal. When the price is above VWAP, it’s a sign of strength; below, it signals weakness. This makes VWAP an anchor point for many strategies, creating natural support and resistance levels. The Power of Combining ORB and VWAP Now, let’s bring it all together. When you combine ORB and VWAP, you’re essentially stacking two powerful tools that capture both the early market sentiment and the equilibrium price level that institutional traders care about. For instance, if the price breaks out of the opening range and stays above VWAP, it’s like a green light signalling that the bulls are in control. On the other hand, if the price breaks down and stays below VWAP, the bears likely have the upper hand. The chart you're seeing is a perfect example of this dynamic. Notice how the price respects the VWAP and reacts strongly around the opening range levels. These reactions are not random—they’re the market’s way of telling us where the big players are positioning themselves. To Recap All These The high success rate of ORB and VWAP strategies isn’t just about the numbers; it’s about understanding market psychology and where the big money is flowing. By incorporating these tools into your trading, you’re aligning yourself with the natural rhythm of the market, increasing your chances of being on the winning side of the trade. This combination gives traders a structured approach to navigate the chaos of the markets, and when used consistently, it can lead to more reliable and profitable trades.
AMEX:SPY
by Deno_Trading
SPY Analysis Across Multiple Timeframes | AugustLike we have seen from the video above lets have some talks on these timeframes and see whar the analysis says. Weekly Timeframe: SPY is currently hovering around 533.27, which is near the top of its long-term uptrend. We’ve seen a slight pullback from the recent highs, which isn’t surprising given how strong the rally has been. If the pullback deepens, keep an eye on 523.97 as the first line of support. Should the price drop further, 514.09 could come into play as a stronger support. On the upside, breaking through 547.04 would signal the continuation of the bullish trend. Daily Timeframe: On the daily chart, SPY has pulled back to around 504.45 after a solid run-up. The recent bounce suggests that buyers are stepping in, but the next challenge lies at 515.13. If SPY can clear that hurdle, it might aim for the 524.99 area. However, if the pullback resumes, 503.45 is the first support level to watch. A break below that could see SPY testing 493.41. 30-Minute Timeframe: Zooming into the 30-minute chart, SPY is in a bit of a holding pattern around 543.41. This sideways action indicates that the market is catching its breath after recent volatility. If SPY can break above 546.64, we might see a short-term rally toward the 550 level, which also happens to be a psychological barrier. On the flip side, if the consolidation breaks down, watch for support around 544.88 and 538.97. Now what? Again, note that SPY is at a critical juncture across all timeframes. Whether you're trading intraday or looking at the bigger picture, these levels are key to watch. We’re seeing some consolidation right now, but whichever direction SPY breaks, it could lead to a significant move. Stay nimble and watch those levels closely!
AMEX:SPYShort
by Deno_Trading