Get started

Spyshort

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
SHORT SPY AT 360 TARGET 320 Market is way up and totally disconnected with current scenario. It is just wrong along with vaccine news market keeps going up which doesn't make any sense at all in this period. It will literally take over 2-6 months to start vaccination in phase period and before that with upcoming holiday season and increasing cases of COVID 19 . There's going to be disaster whether it's biden or trump both are stupid. Low volume and market keeps rising with rsi lacking is not at all good sign to open a new positions infact. I would suggest that better to book profit lay back and watch the market. It's always better to not be in the trade rather than be in wrong trade. Views are my personal. If you like to add any additional comments you can share.
AMEX:SPYShort
by STOCKBROS_95
7
SPY - S&P500Just as feared, SPY did not break the resistance. Will need a bigger push to break that resistance. Back to 351 - 352 range tomorrow @EMA55. 1.2 billion was out from the market later in the afternoon today which made SPY go down. Since cases are rising and lock downs are initiating by some states, it is unlikely that onshore and offshore investors will invest, infact they will be taking their profits out given with all the uncertainty. Afterhours is red @8:05PM CST Please do your own Due Diligence!
AMEX:SPY
by mrrobobot
SPY500 - S&P500 - SPX - Sell - Daily ChartSPY500 - S&P500 - SPX - Sell - Daily Chart Sell @ Current Price approx 3527.4 yet also Major Resistance at this level Sell @ Pull back to 3558.8 Major Resistance level 1 @ 3527.4 may pull back for a better entry Major Resistance level 2 @ 3428.5 Major Resistance level 3 @ 3316.6 Take Profit @ 3251.0 Please share your opinion in the comments, and support the idea with a Like 👍 Thank you for your support 😊 Wishing you successful trading 🙏 ------------------------------------------------------------------------------------ 🔺 Disclaimer! The content of this analysis is subject to change at any time without notice. 🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions. 🔺 You must do your own research to create your own trading plan for the market. ------------------------------------------------------------------------------------
TVC:SPXShort
by UnknownUnicorn5418842
Dip or Rip? NEW way to evaluate Short/ Long - MUST SEE!!!ES and NQ @ critical technical levels with news of further shutdowns. Here I'd like everyone to take another look at what I am presenting. In this chart, I have flipped the ES1! chart upside down so if you're not used to looking for trades in both directions (i.e short and long)- this may make it easier for you. If you look at the chart as I present *dont look at color of candle* and think of this as a swing-setup for long position.. it would normally indicate a pretty bullish upcoming move. I have "projected" fibonnacci price levels to watch out for and trend lines are both GANN measurements and resistance/ support levels that of which, I take into account. Essentially, if ES breaks below $3516, I am projecting drop to approx. 3425 - 3440 before revaluating my POS for next move. As you see, this could equate to over 76 points to the downside if my evaluation is correct. Thanks for looking, dont forget to slap that like & follow button for more moves! Other trades I'm in: BCRX, CALA, RGNX, VXX, LRN, XERS. Check out recent BCRX move!! Disclaimer : I am not a financial advisor, nor is this a buy or sell recommendation. It is to be used for educational purposes.
CME_MINI:ES1!Short
by follow_the_money
SPY Inverse Cup and HandleSo, this is what I'm looking at on SPY moving forward, and it's currently my most likely scenario. I think the US is headed towards a type of lockdown varying in severity, but i'd bet on it happening. I also believe if Joe Biden wins, his strategy may be to inverse Trump & go into lockdown mode (as American sentiment towards Trump's handling of COVID is majority negative). So, I believe this drawdown we're currently experiencing heads back to demand at 320. There's no big buyers stepping in yet, and no reason for them to. After earnings AH today, there's not one major positive catalyst pre election. So, 320 by Election Day is my base case. Then, a quick bounce in the days after, as by that point we'll have been oversold, big buyers should return and start scaling in, and we see a break back over 330 for the handle. The certainty that comes with even just having the election over and decided should provide a positive jolt to the market, with the actual choice of President potentially being secondary. Now, assume Biden wins. It seems he has the momentum coming into Tuesday, so I'll operate on that assumption. Suppose we are at the 330 level end of next week, handle completed. As mentioned before, I believe news comes out about Biden's plan to close parts of the economy, and most likely the news is spread over the course of a week or so, SPY drops, breaks demand zone, and we experience a series of smaller timeframe demand breaks. Our next solid demand on an hourly chart comes around 312. Side note: Check out SPY weekly chart. An ABC correction is still very, very much in play. I've marked it off on my chart. Start thinking about scaling into long term positions. Disclosure: We are short SPY in an option position.
AMEX:SPYShort
by Jomo_Davis
2
SPY 2 hour chart - Creeping back into downward price channelYesterday SPY 200MA crossed the 50MA on the 2 hours chart. Today's pop was definitely driven by short coverings. SPY is now heading back into the downward price channel starting a new "A" wave as we head into the uncertainty of today's election. Pennsylvania results, unless there's a landslide, will not have results tonight or by tomorrow due to the Supreme courts decision to allow counting mail-in ballots up to three days after the election. There's a high probability certified results will not be known by Wednesday and both parties are ready to contest results, which would lead to a drop in markets. I am holding SPY Puts as a hedge against my calls in my swing trades.
AMEX:SPYShort
by Fibonacci43
1