Get started

Spyshort

SPY Short Based on Support and resistance Pivots 2HRReviewing the 2hr timeframe on Spy a pattern emerged of key Pivot points, if you look closely the areas highlighted with a Arrow all are key Support/ Resistance levels, where we pivot, I beleive we happen to be at one right now. If we go back to test our highs and reject once again this will be a stronger indication of reversal for me, Only if we gain that steam to head back up. Next levels to watch based on this Support resistance method would be 395/398, this coorelates to my last post based on a simple pathway down that would make sense, Decided to dig a little deeper to see why this simple chart i quickly posted worked out so well for me, and After reviewing I think our next leg down could be major, Considering there is always the possibility we do go back up to test our resistance and we break it, watch 427 for the next indication on where we could be heading. As always not financial advice just my opinion. Thanks guys! goodluck to all
AMEX:SPYShort
by SmartFlip
SPYSPY GAMEPLAN FOR JUNE 2,2022 Based on today's economic news: ISM Manufacturing (Apr) 56.1 vs 54.5 Expected JOLTS Job Openings (Apr) 11.4M vs 11.35M Expected The market was up the first 30 minutes of the session, and then after the news, it got rejected on resistance and then bounced back from the support of 407. Also, keep in mind that vix is on a support level of 25.50. If 25 breaks market will go up. If not, SPY will make new lows. Two Scenario for tomorrow: -Break below 407 can lead to 398-400 -Break above 413 to 416( I don't think so, but I can be wrong as well)
AMEX:SPYShort
by UnknownUnicorn11669057
A Silent Build Using the SPY Weekly Chart, I.D Your Pivots-WicksWassup people, I have another "Silent Build" here. A quick 3 min video on the movement of the market & to keep in mind always use your wicks or pivots as a price action guide. Always use your higher timeframes just as much as you use your lower timeframes. Taking a look at SPY's weekly chart, we see the COVID recovery from Mar-Aug. In Aug price stalled & went rangebound for over 2 months. Then in Oct, a week before the U.S election the market printed a Double Bottom Pattern & one week after the election the market broke out into new ATH's & never looked back. That run lasted a year from Nov 2020 until Dec 2021. This crazy Bull market has been on fire, but let's be honest, with all the money the government was dumping into the economy we knew some pain was ahead & here it is. If you were keeping tabs on your higher timeframes, you could have begin to get in front of it from Nov 2021 up to Jan 2022. Some of the key pivot levels on the way down have already been broken. 426 & 405 to be exact. We had a strong bear leg from April of last month until May. Here's a fun fact, historically when the market sells off for 6-7 weeks straight, it usually was the pre-cursor to a bear market & recession. Go pull up your chart & pinpoint the years: 2000, 2001, 2002, 2008, 2011 & 2022 to grasp my POV. The market usually bounces after 4 week selloffs. This time around it kept rolling over for another 3 weeks! Investors/Traders should start to pay attention if they haven't been before. Everything isn't a "Dip Buy" some investors & traders have & may continue to find that out the hard way. Overall, my downside levels are 383-320. With 320 being a pre-election level. Granted these levels are long-term levels. You have to account for bounces and minor recoveries as well. The market could just as well reverse back into the range of 404-470 over the course of 2022. In the case of any continued downside movement, I will keep 383, 378, 367, 360 & 320 has my targets. Hope everyone collects a bag rather we bounce or roll!! Peaaacceeeeeeee!!!!!
AMEX:SPYShort
by DayTraderEarl
Are we at a S&P market top? Big picture view suggests yes.This 2W candle looks like it marks a turning point in the stock market. I often use Heikin Ashi candles to see when trend reversals are happening on larger timeframes and we seem to be getting our first red candle since 2020. What's notable about this candle compared to the two that we had previously is that the body of it suggests a trend change and not a pause in momentum. If I had to take a guess on what happens here, it's that we find support at the blue line and move sideways for the next month until the next two week pivot at the end of October 2021. Then I think the market is likely to correct from November onwards. The trigger will be us losing support at the top blue line which will signal a further downfall. I'm exercising caution here and will likely be moving into cash over the next month or so. Of course, we'll have to see how the chart plays out with time and this is really just to provide a macro view. I've provided dates of key dates to watch on the charts and levels of support on the way down if we were to lose that top blue trend line as support.
AMEX:SPYShort
by benjihyam
1
$SPX: Meltup to $6k in 2022?? No, Meltdown: $2.7k-$3.5k There's been a lot of people that have been conditioned to buy the dip over the last two years, because every time that's happened, it's led to higher prices. There's people making bold calls that after this "small dip" we're going to turn around and meltup to $6k. I don't buy it. Looking at the structure of the chart, price action already looks bearish on lower timeframes but is starting to show bearish signs on higher timeframes (both the 2W and 1M timeframes). We just broke down out of this large upward channel, Heikin Ashi candles are showing a bearish trend forming on high timeframes and ichimoku is showing a wide separation of the tenkan and kijun on the monthly timeframe indicating that price needs to snap back to find a balance. 3 indications to me that price is going to move much further down. If you were to look at historical price action on this chart, you'd see that anytime there's been a wide separation of the tenkan and kijun, price as retraced. The widest separation came before the March 2020 crash. The spread between the two lines now is far greater than during that period indicating to me that the snap back down could be a violent one. My base case is that we fall somewhere between 20%-40% from these levels before continuing a move to the upside. I think this downside move is likely to take place this year 2022, and that we will bottom either later this year or in Q1 in next year. I've marked out key months for pivots in price action on the chart. Will update my views if I see things change.
SP:SPXShort
by benjihyam
7
$SPY to fall to $392-$348? Here's why I think it could happen.Over the last couple of weeks, I've tried to play the long side of some stocks expecting a bounce after a fall since November. However, since the bounces that I was expecting never materialized, I decided to reexamine the chart and I saw something that I hadn't seen before when I zoomed out. If we look at the chart of $SPY, you can see that the candle from March 2nd, retested that key support at $441 as resistance. Since I have Heikin Ashi candles on, you can also see that we got our first flat topped red candle on it. 2 in a row, will usually mean the trend will continue in the direction that it's going. On top of that, the Chikou (the lagging span of Ichimoku) just broke through the price action also indicating that price wants to move further down. All these signs lead me to believe that there's further downside to come. The first logical support level would be at $392. If we can't hold that level, then I think we'd see a retest of the $348 level (which is the 50% retracement from the March lows). I personally lean towards the second support getting tested at which point I'd become a buyer of equities. Let's see how price action develops over the coming weeks. The dates on the chart are key dates to look for pivots in price action.
AMEX:SPYShort
by benjihyam
9
SPYToday we saw a massive sell-off from all the sectors because of what Powell said yesterday. Powell mentioned in the interview yesterday that they "will continue raising rates until we see Inflation coming down." which is why investors showed a sell-off today. Now looking at the charts. There can be two possibilities tomorrow. The first one is that there can be a continuation of straight downward to 385 level. The second possibility is that there can be a bounce to the 395-397 area and then down again to the 385 level.
AMEX:SPYShort
by UnknownUnicorn11669057
SPY DIE PART 3Looks like we might get another leg lower before a big relief rally starting in June (most likely during OPEX). 20sma continued decline. HUGE sell off today after JPOW's remarks yesterday. Why were they not reflected in price yesterday? "I thought we were gonna have a relief rally after yesterday's bullish run!" Vanna, Charm, dealer positioning, hedges unwinding. It's the same story over and over and over. Bulls needed to get a huge run over the 20sma and recapture it to the upside. They failed to do that. The "rally" that took place over the last week was weak. And it's ominously telling of the further decline that is to come. Seasonality is usually bullish to end the month, but without recapture of that 20d sma, further decline is coming. The lows will be revisited and will likely grind down lower. This is a grinding bear market with occasional rallies here and there. I have a feeling the next face ripper rally will be around June OPEX, where people are going to be overly hedged and all that unwinding into OPEX will lead to explosive movement upwards (coupled with tech earnings imo). Supports listed as always. Unless bulls can explosively move markets higher into tomorrow OPEX and beyond into next week, this market will continue downward as listed above. Best of luck traders. If you're a long term investor, just be in cash. You remain in cash until FED reverses course. There are NO exceptions to this rule. DO NOT FIGHT THE FED! I will reiterate: The FED HAS BEEN CLEAR! They are removing support/liquidity from the markets - the same support/liquidity that propped up the markets to bubble like levels especially the past two years. Now is not the time to yolo on calls. And now is not the time to yolo on puts either. It is a grinding bear. Only experienced traders should trade this. The rest of you should be in cash again as listed above. You're welcome.
AMEX:SPY
by SenesTrades
1
SPY, ESBattle of the 20d SMA (blue line) is inevitable going into OPEX and even beyond. The old adage of "Sell in May, Go away" has been in full effect since the week after April OPEX. Failure of the bulls to recapture the 20sma with two consecutive closes has contributed to the decline (one of many factors). Again, price will be a combination of many things: technicals (what we're pointing out) liquidity sentiment fundamentals macro Fundamentals are starting to matter in an age where the FED is not providing endless liquidity anymore (QE). They are actually decreasing liquidity (QT) and reducing balance sheet of assets. So we know the big picture here. The 20d sma is declining, but that does not mean price cannot quickly move upwards from here. If anything, we can expect a game of chicken at the 20d sma (as jam croissant would say) - where bulls and bears alike are battling for control. We are reaching a critical window here for bulls heading into OPEX. Supportive flows will help bulls IF they can get some kind of rally above the 20d sma on two consecutive closes. That will kick start bear rally #2. If bulls cannot regain control and there are continued closes below the 20d sma by 05/27/22, then we may be in for more decline. Even with the big picture in mind, counter-trend rallies will be brutal, taking out stops on both sides. Be careful here in the short term friends. Long term, as said - until FED pivots, nothing has changed macro wise. Trend is down until proven otherwise. The 20d sma and price is just one piece of the puzzle. Ultimately, price is truth and has to be respected though. Levels are posted for supports. For ES: 4040 --> 3980 --> 3850 --> 3720 --> 3640 --> 3500 per Wifey on Twitter. Give him a Follow @ WifeyAlpha. Rough spy levels 404 --> 398 --> 385-383 --> 375-372 --> 365-363 --> 352-350. Upside will be 4040 --> 4125 --> 4270 --> 4360 -->4410 --> 4500 on ES 404 --> 410 --> 425 --> 435 --> 440 --> 448-450 on SPY relatively TLDR: Bulls need to regain control of 20sma at levels posted above in the next couple weeks (ESPECIALLY week after OPEX). If not, big trouble and more decline incoming til June OPEX. Best of luck traders.
AMEX:SPY
by SenesTrades
SPY 2008 dailys vs current daily with Burry tweet bout Nadir 180Two questions I had: how low will this go? I have no idea, so I used Burry's tweet suggestion. how many years will it take to recover SPY to the current level? I have no idea, so stretched out the pattern based on Burry's tweet suggestion. I still suck at charting, so don't use this. I actually thought we had one more last bounce, but looks like it's already dropping already. For this chart: I took a bigger picture view (curious how long it took for 2008 crash to recover to the same level as current pattern. Biggest assumption here is using Burry's recent tweet, which said something about Nadir being 10% below the most recent market crash.' The most recent crash was March 23 2020 (wonderful Covid lockdown times) when Spy was about 220 to 230 So 10-15% below (based on Burry's hypothesis) puts the bottom around 180. So, I used the same bars pattern to make the very bottom at 180, and then it gave the timeframe. Don't trade on this, it's just a hypothesis/theory, and I still am new to charting.
AMEX:SPYShort
by morekalbicom
1