NDX LONG - 14,440NDX. on a breakout - Using the. 8 dte options for the first time - Expensive but the move!
Spylong
Bullish summer theory SPYHere is my crazy bullish theory for the market... (chart in daily)
Indicators : MACD curling back to bullish and RSI back over the neutral level of 50.
Waves : The last double bottom could be the a-b-c correction for the previous run, meaning that we can enter in a new bullish run. Last week drop stopped in the support zone for wave 2, a bounce over all time high would mean that wave 3 is officially started. Targets are on the charts. The summer run would also respect the fib fan.
My theory : I don't think we will get a big correction during the summer with the economy reopening. Historically, july is a bullish month. The correction would start around september. The 10% correction that we are looking for would bring SPY back to 400 for the test we all waited for.
Voici ma bull theorie pour le S&P 500... ligne du temps en jours
Indicateurs : MACD est en train de courber vers le haut et le RSI est de retour au-dessus la zone de neutralité.
Waves : Le dernier double bottom serait le a-b-c que nous avons besoin pour pouvoir commencer le prochain cycle. La chute de la dernière semaine s'est terminé dans la zone de support de la wave 2, un bris du haut historique voudrait dire que nous sommes dans la wave 3. Les cibles sont sur la graphique.
Ma théorie : Je ne crois pas que nous aurons une correction lors de l'ouverture officiel de l'économie avec le retour à la normal. De plus, le mois de juillet est un bon mois pour le marché historiquement. Drôlement, la correction que nous attendons de 10% nous mènerait à un test du niveau historique de 400 pour SPY, niveau que nous attendons tous depuis longtemps.
$SPY S&P 500 Chart VISUAL support & resistance6/22/21 2:51 Am Chart Visuals , will be using these levels to guide my entries.
SPY Breakout ImminentFocusing on the smaller 30m time frame here, however as we can see we have a triple bottom forming accompanied by the bullish spikes in volume. Simple price analysis and understanding that volume is needed to show conviction, I firmly believe we close today above $424 and will continue to see a bullish run in SPY to new ATH's...
SPY, be careful what u wish for. If it does not break the upper Fibonacci level, I expect a decline. Expected support levels are on the chart.
You have to be careful before the FOMC
S&P 500 on its way to new ATHFor continued positive momentum, should hold 4208 overnight or at most 4190. Close below 4180 could mean deeper pullback till trend line support. Overhead trend line is possible resistance on its way to 4300 (target/resistance) there.
SPY (S&P 500) BULLISH until July/August ELLIOTT WAVE THEORYThe S&P500 ( SPY ) has seen lots of sideways price action and consolidation for the past few weeks or so, but I believe that we could be seeing an impulsive break-out in the near future. This would form the impulsive wave 3 of a final wave 5 push to the upside before the bear markets kick in around the summertime months (July-August).
We will need to see confirmation of a bullish break-out to know that we have entered an impulse wave to the upside. If SPY can break-out over 421-422 (heavy resistance levels), targets of 430+ are very achievable as denoted in the charts. A possible explanation for the recent lack of volume and price direction could be due to the fact that meme stocks ( AMC , GME , BB, BBBY , WKHS , etc.) have taken over the market and soaked up buying interest. Once buying power gets re-directed back into S&P500 stocks, we should see some bullish momentum that is needed to kickstart the impulse wave to the upside.
CUP/HANDLE PATTERN SPY just a idea it seems pretty clear to me, let see how it holds up on support missing the EMA and other studies but the lines and pattern show strong momentum for a breakout.
Selling 5 Delta Spreads!Hello guys, hope all is well. Today I got into a SPY $411 / $408 spread expiring 06/04 /21. This put credit spread has a 5 delta which gives it a 95% chance of it being OTM by expiration rendering it worthless. I was able t to get $9 of credit for each spread which would give me a 3.09% ROI for the week.
Hope you have a great day
SPX Shortsqueeze Fiesta? My long trade.Hi traders!
SPY / SPX is at all-time highs and traders are beginning to short. As we have seen in the Ethereum run-up, this behavior can lead to a short-squeeze fiesta. Ironically, more shorts lead to higher highs, until the very top - from where price finally breaks down for good. Have we made the top? We don't know, so we can focus on smaller timeframes and take one trade at a time.
What is happening?
On the 4h we see a difficult formation that is interpreted by many analysts as an ABC correction of the downtrend. However, on the subwave we see a slight violation of the wave C ratio. We can now assume that we might be in a wave 3 of 5, and pre-market price confirms this bias.
Where do we go from here?
If price goes higher, my assumption is that SPY will reach target 1 or target 2, which I have marked with a red box.
How to trade it?
A short from target 1 or 2 can be an opportunity for a scalp. Assuming that we are in a wave 5, it is safer to long. If price reverses on target 1, the green box (.382 fib reversal) presents an interesting level, assuming that the corrective subwave 4 is similar in magnitude to subwave 2. Should price reverse from target 2, we can easily derive an entry with a new fib pull, looking for the deepest possible level (.5 fib).
What if not?
If price breaks down from here, we can assume that the downtrend is intact and start looking for pullbacks to short into the trend. In that case we are in a motive wave 1 down and short once wave 2 has retraced.
Happy trading!
SPY NEW LEVELS COMINGAnd here we go with SPY going to see some new levels coming back around, history doesn't lie. Always look backwards on the chart.
S&P 500 bulls under pressure Just like Nasdaq, bulls of S&P 500 are also under pressure. It rejected 4185 first and then unable to close above 4169 level. Now must hold 4129 level. Close below 4113 red flag. Trend line last line for bulls to defend. Then upside target still 4221. This week may decide direction for S&P 500. A cautious bullish bias.
AMD PUTS - TRADE OF THE YEAR IF IT BREAKS 300% GAINERGuys,
If this breaks under this is a MASSIVE gainer on PUTS. Massive. Not only will it full fil the trend bounce at $60 and the possibly descending broadening wedge which overall tends to be bullish with big break upside. It gives you the possibility to not only be short but confidentially swap short to long at $60.
MASSIVE PLAY HERE.
ONLY WORTH TRADING IF IT BREAKS UNDER THE HEAD AND SHOULDERS.
SPY PT 06/2021 UpdateLooks like we transitioned to a slightly longer 5-count triangle in the four wave, potential impulse started, high probability of gap up meltdown after which entering long positions seem rewarding for the remaining part of the month.
S&P 500 - Elliott Wave AnalysisCombining Fib Extension to project the probable targets for 5th Wave top (if not reached already).
Thanks!
SPY Intraday Week 18 UpdatePerhaps my initial idea was right and I was early on my flat-top count. I opened my position too early off the indication of a VIX triple top but should have been paying more attention to how it would behave around the daily 50ema. So far it's getting smashed at 20 every time and that indicates to me that my idea is still in effect. Not bullish after next week though.
S&P futures getting closer to upside resistance level. Upside target is still 4235 as long as 4113 holds. If 4163 fails, next bullish bounce can be seen from 4146 or 4135. Close below 4113 may indicate short term trend change unless we see a quick crash and bounce around 4050. On upside, 4188 is immediate resistance, once overcome can move towards 4235-4240.
Emini (S&P) : Potential bullish trade setupPrice tries to create a bearish breaker, fails, grabs liquidity from equal lows & runs back higher!
Monthly / Weekly / Daily on ES1! (or SPY) are all bullish.
This allows us to buy from area of a seemingly discounted zone.
