Inverse Head & Shoulders on SQQQIf the equity markets suffer another decline, SQQQ may have developed an inverse head & shoulders formation here. I have noted the target and we will watch to see if it develops.Longby dereckcoatney223
Weekly Trade Ideas - SPY LULU RTY VX AMZNHere's a video recap for some of my favorite trade ideas for the week. LULU is my top pick and also still riding GME and COIN puts from last week. Should be interesting, I think all of these are pretty solid. I'll recap them at the end of the week.16:36by AdvancedPlays332
SPY Paths Moving ForwardSPY is at an interesting spot, it has reclaimed the downward trendline that started in early August, but is yet to reclaim the uptrend from April. We also have ATH shortly above. I could see a test of that area leading to a rejection that may bounce and eventually continue higher if it can hold the trendline. To the downside, if it breaks below tomorrow or soon, my first target would be the gap fill below around 545. I think anywhere from the 530-540 area could as well. That's a big range, but these are decently long term trends and volatility is elevated recently so we can definitely see that area hit quickly if we do sell off and get a fakeout above rather than a breakout.by AdvancedPlays115
Inverted hammer Lesson with some good set up ideas I go through the chart on spy for August 20th 2024 and show the good setups throughout the day. Another losing day for me today but we keep moving forward. Thanks for watching and supporting me. 07:31by carsonusa5221
SPY pullback into structureThe last confirmed break of structure to the upside is shown as the green rectangle. Price will ALWAYS come back to test the area. We are now in bearish structure, as shown by the red Ray. And gmfor you EWavers out there, I believe us to be about to finish the B of an ex flat for Y of this WXY pattern. TarShortby ell00705520
Carl V bearish patternThis pattern is from Bulkowski's pattern site. Carl Vanhaesendonck or Carl V discovered the pattern. I am seeing them on many major ETFS of USA and also world ETFs such as ACWI. For the SPY the target is 506. It is quite an extreme pattern and involves wild swings. Notable the VIX has a Carl V bullish pattern targeting the 60's. IF the target is met, the open question is does price fall further down in a more extreme panic...by TomNewYork223
Opened (IRA): TQQQ Sept 20th 58 Monied Covered Call... for a 54.85 debit. Comments: Added to my position at a strike/break even better than what I currently have on. Metrics: Buying Power Effect/Break Even: 54.85/share Max Profit: 3.15 ($315) ROC at Max: 5.74% 50% Max: 1.58 ($158) ROC at 50% Max: 2.87%Longby NaughtyPinesUpdated 2
SMH shows signs of weakness for first time SMH rally is showing weakness in multiple places for first time. EMA crosses below SMA for first time since rally started RSI shows signs of price divergence by trending down while price makes higher highs. This is more cautionary at this point and keep in mind. I wouldn't add to any bullish positions but instead tighten stop losses and seek to start taking some profits.Shortby ratchet-mint0
SMH correction areaThe SMH likes to check up on the 50 month moving average every 2.5 years or so. It has gone 20 bars since it's last check, so i would expect a test within the next year to 16 months. by Mausty110
USO another long idea to $79.83The last idea on this was a total winner, so I'm gonna keep at it... I'm getting that it's time to buy it again, but less of a run than last time as the target is just a slightly higher high. This is all based on my dowsing work btw. The drop this morning should reverse, but may want to fill the gap at 73.39. I have a time of day at 1:40-50. IDK if it'll be the low, or is something else, but it's fun to watch. Regardless, it's likely more up than down from here. I also keep getting there's news coming & that's in almost every stock I ask about. It said for USO the news sends it up.Longby JenRz2
QQQ - Selling short term Calls todaySell to Open AUG20 480 CALL @ 1.20 (2 contracts) Just playing the hesitation here on options that expire today. by goldbug1117
if or when?By the past experience, all the gaps have strong probability to be filled - so I have deep doubts we will go only up without significatnt correction, so what do you think? by kosajsk222
SPY drop, bounce, u-turnSPY trade idea 5:1 ratio Short = 565 Stop = 570 Profit = 540 (SPY) S&P 500 index rapidly dropped in a week, then bounced in a V shape recovery for 2 weeks, now it could u-turn back down. SPY is back at it's resistance level of it's 2 year trend channel. There's not much upside left this week from the 560 area. However, it could temporarily false breakout. I'm posting this as a short because there's way more downside than upside potential for the next month. Since there has been steady momentum going up from Monday 8/5 bounce off 510 low, this short setup will probably take a few days. It's likely a catalyst related to newsworthy current events (Macroeconomic / Geopolitical) will u-turn the momentum around. The trajectory of this SPY 2 year trend channel ends 2024 at these levels. High: 590, mid: 570, low: 550. S&P 500 average annual return since 1957 is around 10%. Over the past 10 years SPY annual returns are: 2015 = -0.81% 2016 = 9.64% 2017 = 19.38% 2018 = -6.35% 2019 = 28.79% 2020 = 16.16% 2021 = 27.04% 2022 = -19.48% 2023 = 24.29% 2024 = 17.74% YTD SPY options data: 8/23/24 expiry Put Volume Total 227,406 Call Volume Total 194,390 Put/Call Volume Ratio 1.17 Put Open Interest Total 453,568 Call Open Interest Total 231,880 Put/Call Open Interest Ratio 1.96 8/30/24 expiry Put Volume Total 106,190 Call Volume Total 71,114 Put/Call Volume Ratio 1.49 Put Open Interest Total 1,325,995 Call Open Interest Total 400,252 Put/Call Open Interest Ratio 3.31 9/6/24 expiry Put Volume Total 34,413 Call Volume Total 27,127 Put/Call Volume Ratio 1.27 Put Open Interest Total 409,413 Call Open Interest Total 82,889 Put/Call Open Interest Ratio 4.94 9/13/24 expiry Put Volume Total 26,054 Call Volume Total 32,626 Put/Call Volume Ratio 0.80 Put Open Interest Total 790,615 Call Open Interest Total 72,179 Put/Call Open Interest Ratio 10.95 9/20/24 expiry Put Volume Total 240,533 Call Volume Total 90,520 Put/Call Volume Ratio 2.66 Put Open Interest Total 2,778,151 Call Open Interest Total 878,237 Put/Call Open Interest Ratio 3.16Shortby Options360Updated 2214
SPY Trending UPPrevious days last 5 min candle strong bullish volume still pushing markets upLongby orcun3
$SPY August 20 ,2024AMEX:SPY August 20 ,2024 15 Minutes. For the rise 548.88 to 559.58, holding 555 levels uptrend continues for te day. A retracement to 552 will give an opportunity to add longs.by RiderTrader220
Resistance then profit Going to watch that 565 area for some resistance ideally then hopefully a retest after that, eventually breaking through 565 for a decent profit. by Stoxor2
ELLIOTT WAVE ANALYSIS TLT BONDS: 20 AUG, 2024© Master of Elliott Waves: Hua (Shane) Cuong, CEWA-M. Bonds, Wave (iii)-orange is unfolding to push higher; it is subdividing into wave ((2))-blue, and appears to be unfolding to push lower. Specifically, it is developing as a Zigzag, labeled (A)(B)(C)-orange, wave (B)-orange is nearing completion of its role. Finally, wave ((3))-blue could return to push higher. While price must remain above 91.47 to maintain this view. A break below this level would indicate an alternate wave count scenario is in play.by ShaneHua224
Elliott Wave Intraday Analysis Looking for GDX to Extend HigherRally from 9.26.2022 low in AMEX:GDX is currently in progress as a 5 waves diagonal. Up from 9.26.2022 low, wave (1) ended at 36.26 and pullback in wave (2) ended at 25.62. The ETF then extended higher in wave (3) towards 39.4 and pullback in wave (4) ended at 33.85 as the 1 hour chart below shows. Internal subdivision of wave (4) unfolded as a double three Elliott Wave structure. Down from wave (3), wave W ended at 35.9 and wave X ended at 38.22. Wave Y lower ended at 33.85 which completed wave (4) in higher degree. The ETF then turns higher again in wave (5). Up from wave (4), wave ((i)) ended at 36.25 and wave ((ii)) pullback ended at 34.54. Wave ((iii)) higher ended at 38.08 and pullback in wave ((iv)) ended at 36.56. Expect wave ((v)) to complete soon which should also end wave 1 in higher degree. Afterwards, it should pullback in wave 2 to correct cycle from 8.5.2024 low in 3, 7, or 11 swing before the ETF resumes higher again. Near term, expect pullback to find support in 3, 7, 11 swing against 33.85 for further upside.by Elliottwave-Forecast1
SGOL physical gold ETF long entry for position ( GLD )I'm letting my pendulum start picking more stocks for me since things are happening with them. I have this as a big low coming and it seems like this is to buy and hold for the long term. I posted the area I expect to hold and the target may be up to 35-36, but really it's just suggesting to hold it perhaps to 2030. There's also a date of Sept. 27th. Those are often reversals, but sometimes nothing obvious, but just something to watch. So, if you need some gold in your portfolio & like that it's backed with physical (allegedly), this may be an opportunity. Longby JenRz0
Intuition stock Long setup on XRTI ask for stocks sometimes from my intuition, and this immediately came to mind. That's usually a good sign and means it's true guidance. I also had the number 112 or 13 and the impression of up. I do dowsing and the reading suggested a bit of a move down and then up to around 90-91. I think it's possible the number of 13 was about points higher from Friday's close (I got this on Sunday), which comes around $90. Dowsing also supports this idea. I also got a date for a possible low of the 23rd, but I don't have a ton of faith in it. It's just something to be aware of as dates are sometimes reversals.Longby JenRz880
$GLD Breakout and Option Strategy Spotlight with Overlay It looks like GLD 0.44%↑ finally broke out of its sideways-upward channel on Friday. Time to explore some opportunities using our Options Overlay indicator on TradingView. The current IVR is at 84, while the 62 DTE average IVx is only 19.9, making this IVx level exceptionally high for gold over the past year. On the daily chart, the Gold ETF is trading between the 6/8 and 7/8 levels. The options chain shows that calls 62 DTE are about 130% more expensive, indicating a strong bullish sentiment in the market. Examining the standard expected move (STD1), even at 4 DTE, the upside target is 237 (7/8), with the downside at 6/8. The delta curve shows the 16 delta OTM call trending upwards toward the 8/8 level, which aligns with the 250 level. Given this, I would caution against buying single-leg calls at such inflated prices. A pullback could dramatically reduce their value, and time decay will work against you. If you're determined to go bullish, a simple CALL butterfly offers a better risk-reward ratio! GLD Bullish strategy - if we are expecting rising IV Assuming further IV increases (IVx rose by 2% over the last 5 days despite a drop in VIX and a rise in the underlying), a CALL calendar spread presents a solid R:R setup. The Options Overlay quickly highlights the optimal expiry dates to target: Sep 20-27. I noticed a 4% volatility skew between these dates. The standard expected move (STD1) and delta16 suggest an upward probability range capped at 245, meaning there's an 86% chance that AMEX:GLD stays below this level by Sep 20. Here's my setup in this case: GLD Sep 20th - Sep 27th 245 Calendar Call Spread. This spread, spotted in under a minute on TradingView, offers nearly 8x risk-reward, but it's beneficial only if you're betting on continued IV increases.Longby TanukiTradeUpdated 3
Lessons From my Losses August 19th 2024 Today the price action again was not ideal. I talk about not getting into trades based on FOMO and overtrading, which I did today. I am a little upset with myself as I was not disciplined. I showed a trade with great confirmation on the 15-minute chart I missed. Let me know what you guys think in the comments and tell me about how your trading went today! Editors' picks06:31by carsonusa566106
SPY - 8/19/24SPY for Brett, honeydrip, chekcing out levels/trend line analysis. -- calLongby calgunsaulus0