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Spylong

SPY Holding Up During Holidays? Happy Holidays! After seeing the AMEX:SPY hit ATH last week, some wonder if the flame has just been lit or if it's being put out. Will the market hold strong into the New Years' or will it start a correction as Biden makes his way into office. Right off the bat, I see a few key levels to watch starting with $363.22 as Monthly support and $365.73 as weekly. We should also watch $369.84 and $371.05 as weekly resistance. As the vaccine is distributed nationally and globally, we could aim to expect a continuation up that is unless we see negative news about this pandemic or vaccine. We also need to remember that Biden will be making his transition into the White House on January 20th, 2021. God Bless America
AMEX:SPY
by DotcomJack
3
DOW Trading Under ATH | New Years WedgeAfter seeing the DOW hit ATH last week, it looks like it could continue sideways for the next week or so as we approach the holiday season. I'm watching $29,820 as weekly support and $29568 as Monthly support. Looking toward the upside, we've tested the $30,325 range as ATH twice in the last week, confirming it as a strong level of resistance. I'll be watching this wedge moving into the week as we watch for a breakout. As the vaccine is distributed nationally and globally, we could aim to expect a continuation up that is unless we see negative news about this pandemic or vaccine. We also need to remember that Biden will be making his transition into the White House on January 20th, 2021. God Bless America
TVC:DJILong
by DotcomJack
3
Interesting theory on SPY: possible ST short?Bear case (just a theory): If we take a look at time and space on this daily chart, 25 bars (35 days) for the trough-peak-trough before the election. If we take the FDA talk on the vaccine for the same whatever reason, I believe there is a possible downside of ~9% until Dec 9th, a trough-peak-trough total of 29 bars (36 days). - Yellow trend line act as support. - Volume has been a downtrend. - The two overheard white trendlines represent a strong resistance on the daily and weekly charts. (candles move easier towards less resistance direction) - Technically only tested bottom support twice (red shadow or yellow trendline), possibly the third time? - Small rsi divergence on weekly. Bull case: Priced in. Spy looking to break overheard trendlines or move closely with it. - Tested the overhead trendlines three times with the last retest completed, possibly going higher. (green arrow) - Options pricing in more downward risks but not so much upside risk. (this is normal due to the nature of hedging) pasteboard.co - For educational purpose: www.tastytrade.com - Some of the macros: 10yr yield steady uptrend, low vix, gold downtrend, dollar going for new low since march. Just a theory, will keep my longs on, may just short with an option contract or two to defend downside risk.
CME_MINI:ES1!Short
by dannycc24
SPY - Main s/r zones analysisHello traders, Description of the analysis: SPDR S&P 500 ETF TRUST ( SPY ) support zones ideal for timing long positions (gray). A possible correction could provide a shopping opportunity in interesting volume zones. It is definitely worth following further developments. The thickness of the support zone reflects the importance of this zone. Red lines are fair prices by volume. Please be careful during the election campaign and election. There can be higher volatility. I personally stand outside the markets with new positions. About me: Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund (over $4.000.000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades. Jacob
AMEX:SPYLong
by Jacob_Kovarik