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$SPY December 10, 2024AMEX:SPY December 10, 2024 15 Minutes. 605 as expected was done. Downtrend confirmed as long AMEX:SPY is below 607 levels. 607 is 200 averages in 5 minutes and 61.8% retracement for the fall 609.07 to 604.08 This 606-607 is a level to short. For the rise 597.28 to 609.07 61.8% retracement is 601-602 levels. Soif 604 is broken today 599-600 is my target for today. In daytime frame AMEX:SPY took support at 9 averages. 21 average is 598 levels. For me usually downtrend in 15 minutes until 200 averages price is above current price in 5 minutes. We have an oscillator divergence at close. price made LL but oscillator did not support. So, i expect a pull back at open.
AMEX:SPYShort
by RiderTrader
16
Spy 620 EOYHello Traders... Been awhile.. Figured time for an idea.. I see us hitting around 620 EOY... For now we might get a little dip this week before we head up there the last two weeks of the year. I see something happening around February 1 then something again around March/April. I have a feeling SPY/SPX wants to tag 666/6666 since 2008 bottom was 666 .. Will we head straight there as shown with trendlines around April 2025? Or will we have a pullback at end of January... then head back up that way into the summer. I see us peaking around of Summer 2025. Then maybe have weaker/selloffs into 2026.. My thinking as of now.. see how things go. Feb 1 is ? .. Some think it will peak around then.. It's possible..But I'm leaning towards maybe a pullback at most... and at least...nothing much..and we continue to April then get the bigger pullback. But I also see another wave summer 2025.
AMEX:SPYLong
by TheUniverse618
Tech shares in Hong Kong rallying....Comparing the 3067 ETF and the top 2 tech stocks of HK, Tencent and Alibaba, we can see that Tencent has broke out of its resistance zone and is rallying higher. Now, Alibaba and the ETF is playing catch up.... I have previously said that if you have limited funds, does not like or dunno how to analyse individual stocks, prefer diversification, the 3067 ETF provides a good exposure to the growth companies of HK Tech space. Before one gets carried away, you can see that it has been in a range bound territory since Mar 2022. That means, had you bought into this ETF say at the bottom, then congrats you are in profits already. But if you bought at the resistance level, then you are making small profits now. I would urge not to sell unless you need the money as the bull market has just begun. There is a 1 week holiday in China now and when these locals return, they will be pushing the market even higher. So, these 4 days we are lucky to catch the ride before their returns. In a frenzy bull market, the pullback may not come as soon as one wanted it as it takes time for the market to digest and cool down. Indicators like overbought, parabolic 90% rally , FOMO , etc are all over the news. So, you have to sure that you are prepared to hold on to these companies for long term if you decide to average up. Please DYODD
HKEX:3067Long
by dchua1969
Top 5 Weekly Trade Ideas #2 - SOXX Bull FlagRough day for tech and semis so far. NVDA failed to reclaim $140 but still has a bullish chart overall. It was idea #1 this week with an inverse H&S that is still valid for now. If we see both NVDA and SOXX begin to rally it would be a good sign that SOXX is about to breakout of this bull flag while NVDA holds the neckline. SOXX is right in the middle of the range so it's not the greatest spot to enter. There's still a lot of room for more downside without invalidating the bull flag. Ideal long entry would be on a break of the flag and retest. First upside target is around $240. Downside target is $208 - $200.
NASDAQ:SOXXLong
by AdvancedPlays
QQQ | Pullback Opportunity with Continued Growth PotentialWelcome back! Let me know your thoughts in the comments! ** QQQ Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
NASDAQ:QQQLong
by BKTradingAcademy
SPY Analysis (1-Hour Timeframe) Dec. 9, 2024Current Market Structure * SPY is moving within an ascending channel, with higher highs and higher lows. * The price is currently consolidating just below the key resistance level of $609.07, indicating indecision. * The MACD indicator is flat, with a potential crossover, suggesting a possible breakout or breakdown in the near term. Key Levels to Watch 1. Resistance: * $609.07: The recent swing high. * $610.50: Psychological and technical resistance above. 2. Support: * $607.00: Near-term support at the ascending trendline. * $605.72: Strong horizontal support, aligning with the base of the channel. Technical Indicators * 9 EMA: The price is hovering near the EMA, suggesting indecision. A close above this could trigger bullish momentum. * MACD: Neutral, but any crossover above the signal line would support a bullish breakout. * Volume: Volume remains low during the consolidation phase, so watch for a spike to confirm any breakout. Price Action Scenarios 1. Bullish Scenario: * If SPY breaks above $609.07 with strong volume, the next targets are $610.50 and $612.00. * Entry: Buy at the break of $609.50. * Stop Loss: $607.00. * Take Profit: Scale out at $610.50 and $612.00. 2. Bearish Scenario: * If SPY breaks below $605.72, the next targets are $604.00 and $602.50. * Entry: Sell at the break of $605.50. * Stop Loss: $607.50. * Take Profit: Scale out at $604.00 and $602.50. Trading Plan 1. Scalping: * Focus on breakouts above resistance or below support with tight stop losses. * Monitor volume and MACD for confirmation of momentum. 2. Swing Trading: * Buy on retests of $607.00 if the price confirms the support level. * Short if the price breaks and retests $605.72. Thoughts * The current consolidation suggests a potential breakout is imminent. Pay close attention to volume and how SPY reacts to $609.07 and $605.72. * With MACD neutral, confirmation through price action and volume is essential before entering trades.
AMEX:SPY
by BullBearInsights
2
FXI to $55.00 someday ?FXI , the most representative ETF of the Chinese stock market, reflects, in our view, a 15-year stagnation that contrasts with the remarkable economic growth China has experienced during the same period. Since May 2008, the FXI has unsuccessfully attempted to break above the $55.00 level, registering relative highs at the following points: May 2008: $55.00 April 2015: $52.85 January 2018: $54.00 February 2021: $54.53 At the same time, since October 2008, the ETF appears to have established a support level near $20.00, with notable lows at: October 2008: $19.35 October 2022: $20.87 January 2024: $20.86 A key level: $33.73 Currently, FXI is attempting to break above $33.73, which corresponds to the 0.382 Fibonacci retracement level. This calculation is based on the relative high of $54.53 (February 2021) and the lows recorded in October 2022 ($20.87) and January 2024 ($20.86). In October 2024, the price temporarily surpassed this level, driven by high volume, reaching the 0.50 level ($37.70). However, this movement was short-lived and lacked follow-through. The key question Will FXI manage to decisively break through the $33.73 (0.382) level in the coming days? And if so, will it reach the following key Fibonacci levels? $37.70 (0.50) $41.67 (0.618) $47.32 (0.786) $54.53 (1.00) While FXI is still far from breaking through the $55.00 barrier, a sustained move from the $20.86 lows could signal a historic trend shift, challenging the ceiling that has capped its price for the past 15 years. Our opinion is for educational purposes only and should not be considered a recommendation to buy or sell. Before making any investment, consult with your financial advisor.
AMEX:FXI
by SHGTrading
Which side would you bet on???The market may be experiencing or expecting a seasonal stock market rally around the holiday season, often called the "Santa Claus rally." The image shows a potential "Island Top" pattern, where the market temporarily breaks above a trading range before reversing back down. This could suggest a pullback or correction is possible after the current rally. The chart doesn't provide a clear directional signal for which side to bet on. It depends on one's market outlook and risk tolerance. A cautious approach may be to wait for confirmation of the market direction before taking a strong position. An aggressive approach would be the Option Strangle strategy..! But which contracts? write your suggestion in the comments! *A strangle option strategy involves buying both a call option and a put option on the same underlying asset, with the same expiration date but different strike prices. The goal is to profit from a large move in the underlying asset price, regardless of the direction. The key points are: - Buy a call option and a put option on the same asset - Same expiration date, different strike prices - Profit from a significant price move in either direction The strategy allows the trader to profit from volatility without needing to correctly predict the direction of the price move. The risk is the premium paid for both options.
AMEX:DIAEducation
by Moshkelgosha
Opening (IRA): TAN Jan 17th 33 Short Put... for a 1.01 credit. Comments: Adding to my TAN position at a strike/break even better than what I currently have on. Here, going Plain Jane short put, since there isn't a great advantage to going monied covered call here because the IV skew isn't between the call and put sides isn't significant. Metrics: Buying Power Effect/Break Even: 31.99 Max Profit: 1.01 ROC at Max: 3.16% 50% Max: .52 ROC at 50% Max: 1.58% Will generally look to take profit at 50% max.
AMEX:TANLong
by NaughtyPines
Bullish Momentum Ahead: SPY's Path for Next WeekRecent Performance: SPY has experienced a strong bullish trend, trading above major moving averages and recently hitting all-time highs. This reflects buoyant market sentiment supported by robust performances in the S&P 500 and NASDAQ, signaling a rally that is capturing investors’ attention. - Key Insights: Traders should focus on critical support and resistance levels. The lower support at $606 offers a buffer for potential pullbacks, while resistance around $609 is pivotal for driving further gains. Monitoring these dynamic levels could provide actionable insights for upcoming trades. - Expert Analysis: Market experts generally maintain a bullish stance for SPY, with potential for upward momentum. However, caution is advised as SPY approaches key resistance levels, which could trigger a reversal or continuation depending on market conditions. The volatility anticipated next week, particularly affecting tech stocks, highlights the need for vigilance. - Price Targets: Based on professional traders' insights, expected targets for next week include: - T1: $611 - T2: $614 - Stop Levels: - S1: $606 - S2: $604 - News Impact: The market is closely following the potential for SPY to form a multi-year ascending channel, with upcoming inflation and interest rate dynamics likely to have a considerable effect. Analysts emphasize that these factors could create turbulence in market performance, thereby impacting investor sentiment and SPY's price trajectory in the days ahead.
AMEX:SPYLong
by CrowdWisdomTrading
$SPY December9, 2024AMEX:SPY December9, 2024 15 Minutes. As can be seen in chart AMEX:SPY struggling around 608 609 levels. The retracement i was expecting due to oscillator did not happen but it resulted in sideways movement. For the rise 597.28 to 609.07 604.5 is approximately 38.2% retracement. Also for the fall 609.07 to 607.07 to 608.38 605 is 1.618 times extension on reversals. At the moment AMEX:SPY is converged in 3 moving averages 9,21,50. We have 100 averages sat 606 levels. That is my first target for the moment. Day is still strong, and I have 635-640 as target. We have 606 as 9 averages in day so that should give good support on a reversal.
AMEX:SPYShort
by RiderTrader
2
SPY Covered Call To-DateI originally entered an SPY Covered Call to experience chasing an ITM call higher in SPY. Originally buying SPY at $521.59 and selling 500 call was for max protection against any near term drops. The original Max gain of $2.85/share translated into 0.18% gain per week against the $497.15 cash capital required to take the trade. Currently, with two dividends distributed, the trade is surprisingly still a 0.17% per week max gain trade, which translates to 8.86% per year. SPY would fall almost 12% by 2/28/25 and I still make max gain of .17% per week. And a 17% fall in SPY would be required to wipe out all gains for this trade.
AMEX:SPY
by oldinvestor
Hey Spy Lovers check this Candlestick Scenarios for future move I suspect it’s time for a good pullback. As we can see, the price continues to fluctuate within the ascending channel, but there are two scenarios I anticipate where a pullback might occur in the coming days. Note: Every pullback is simply a very natural price movement. This does not mean that we are in a bearish market at the moment. If the overall structure is bullish, pullbacks are just part of the cyclical nature of price movement. Here are two potential scenarios in case the price decides to make this natural pullback: Scenario 1: If you compare the two types of candles I marked on the left, notice how the candle patterns have more volumetric, medium-sized bodies than the other. This indicates strength; however, we are not exempt from a natural pullback, which, to complete a trending cycle, broke the structure itself to the upside. Scenario 2: Let’s assume the price becomes quite exhausted and begins the pullback I am anticipating. I have marked two zones of great importance where the price will most likely rebound: First Pullback Zone (equivalent to a block order): Notice how, coincidentally, this zone touches the support of my ascending channel. Coincidence? Second Rest or Pause Zone: This zone must be considered because if there is a structural break, the price may drop lower to this point. Note: The overall structure remains bullish unless a lower structure or demand zone is broken, Until then, we can only consider pullbacks and impulses as part of the price cycle in its upward movement. Thank you for supporting my analysis. TRADE SAFE!
AMEX:SPYShort
by RocketMike111