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Spylong

SPY about to move with Tesla inclusion and Stimulus I spotted a dragon fly doji followed by all-time highs. I drew an idea of potential price movement in a downward move. The $371 mark is clearly a resistance and it is funneling into a wedge. If it breaks 371$ we could see some price movement to the upside. With the tesla inclusion starting over the next 3 trading days we could see some downward movement. The index has to spend money to buy up shares of tesla. In the Yahoo inclusion to the S&P we saw a dip in the SPY during that event. With the world in chaos while the market is high on hopes of stimulus we can go either way. All I know is there should be a significant move here shortly. Give me your thoughts in the comments below.
AMEX:SPY
by wesbrown4050
4
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