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Bull & Bear $SPY Weekly OptionsAMEX:SPY We expect the next two weeks through Thanksgiving to be quiet before we continue on this rally into the end of year through all-time highs. This week we are focusing on the range from $583 up to $598. We have weaker levels at $586 and $591.70. Here are our weekly options contracts for both sides of the trade. For confirmation, we use 15-30 minute candle closes over/under our entry level. $590 CALL 12/2 Entry: Retest Confirmation OVER $586 or $583.56 Targets: ($586), $588, $591 $584 PUT 12/2 Entry: Retest Confirmation UNDER $583.56 Targets: $580.90, Long-term trendline
AMEX:SPY
by PennyBois
S&P500 (SPY) Hits Target #2 Today!Traders, though we've still got a ways to go to our final target of 670-700 on the SPY, it is worth celebrating our direct hit of 600 today. I remember a year ago drawing out 563 as a first target for our blow-off top and I was laughed at. Bears were in their mood and hungry. They wanted more blood. But a combo of our Elliot Wave and a daily inverse head and shoulders showed us exactly where we would hit. Then I spotted this nice cup and handle on the weekly. If you remember, it was almost invalidated with that China carry trade flash crash. But I stood my ground and stated that we would need to see another weekly open and close below our neckline before the bet was off. That did not happen and we are well on our way to that 670-700 final target. However, before we get there, I do believe our 600 level on the charts will provide some psychological resistance. Admittedly, this was more of a guess than anything when I had drawn it up and placed it on my chart several weeks ago. But now, we are seeing overbought conditions on both the daily and weekly charts. Are we a bit over-heated? I think we may be and should be prepared to see a bit of a drop, or at least a week or so of sideways price action, before we break 600. Unlike my first target at which I sold and buy the carry trade dip for massive profit, I don't know that I will be selling here. 600, as I stated already, was more of a guess than anything. But I am pretty decent at making these guesses. Experience and lots of psychology and chart study has taught me. Before I get ahead of myself though, let's watch and see what the market decides to do next week. ✌️ Stew
AMEX:SPY
by stewdamus
1
$SOXL Inverted Cup and Handlel (SELL NOW!)Grasping chart patterns is essential for market participants. This article explores the inverted cup and handle formation, a bearish signal that suggests potential downward movement. The inverted cup and handle, also known as an upside-down cup and handle pattern, is a bearish chart pattern that can appear in both uptrends and downtrends. It is the reverse of the traditional bullish cup and handle pattern. The inverted formation consists of two main components: the "cup," an inverted U-shape, and the "handle," a small upward retracement following the cup. SELL NASDAQ:NVDA AMEX:SOXL NASDAQ:AMD NASDAQ:AVGO NASDAQ:QCOM NASDAQ:MRVL NASDAQ:MU $TXN. Lets BUY it again WHEN IT'S LOW guys. Mark my word
AMEX:SOXLShort
by sej4974
3
$IWM Today's Trading Range 11.25.24IWM is trying so hard to make those new all-time highs. We’re not far away from those highs made three years ago and today’s gap up was definitely a push and attempt to do that. We are definitely overbought here. Keep an eye on the 35 EMA if it does cross up in the rain today, expect a pull back and if not , then maybe tomorrow will hit those all-time highs. At that point I think will be pretty exhausted with this run. I know I’ll be a seller at all time.
AMEX:IWMShort
by SPYder_QQQueen_Trading
$SPY Trading Range for TodayAll right so today’s implied move is between 592 and 599 and add open. We capped up above 599 above previous all-time highs made new ones and pulled back down. Tonight I’m gonna try and get these trading ranges in the videos. I’m traveling right now so it’s a little bit difficult but good luck today and I’ll see you guys tonight. The 35 EMA is on the right side of the trading range today and be careful if it does come up into the green. I would expect pullback at that point.
AMEX:SPYShort
by SPYder_QQQueen_Trading
1
SPY/QQQ Plan Your Trade For 11-25-24 - Carryover TrendToday's pattern is a Carryover in Trend mode. Obviously, this is a holiday week, and because of low liquidity, I expect to see moderately wild price volatility. Stay cautious, as price moves could be exaggerated this week. Gold and Silver are still attempting to break higher and trading in a consolidated sideways price channel. BTCUSD pauses into the holiday week. This would be a good week to pause, read a good book, and avoid the risks in the global markets. This shortened trading week will likely result in very wild price swings. Stay cautious. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SILJLong
by BradMatheny
QQQ Technical Short OpportunityTechnical SHORT opportunity in QQQ: 1. QQQ failed to fill gap from Friday. Very weak upward progression over the last 4 days 2. Thursday’s candle is a “bearish hanging man” 3. The last bearish wave retraced 66% of the prior upward move 4. There have been multiple tests of immediate support level (495-498) 5. QQQ has been weaker than S&P over the past 5 days Profit target can be placed near the high-volume node at 488 Please note that the long-term trend remains “bullish,” and a short-term downside auction does not indicate an immediate reversal.
NASDAQ:QQQShort
by hermes_trisme
2
S&P 500 Weekly Recap: A Struggle to RecoverLast week’s market action reflected the ongoing struggle for recovery after the previous week’s sell-off. The market opened cautiously, with buyers stepping in to regain ground lost during the prior downturn. Despite early hesitation, bulls managed to push prices higher, eventually filling the gap created by the earlier sell-off. However, this recovery faced significant resistance from sellers, resulting in minimal upward progression in daily closes. Strength in the recovery was primarily driven by Financials (XLF), which set a new all-time high. Other sectors, however, remained subdued, aligning with the broader market's hesitant tone. While this selectivity isn’t necessarily negative on its own, when combined with other signals, it may indicate growing risk aversion and a lack of conviction among market participants. It is also worth zooming into the lower timeframes. The 584 level provided key support but was retested multiple times during the week, which is not a good sign for buyers. Persistent tests of support typically indicate weakening demand, and bulls should be cautious of this development. Additionally, it was remarkable to observe how the rally went precisely to the Value Area Low ( 596 ) of the previous consolidation zone. Buyers should note that the market failed to push higher and close within the value area, signaling potential exhaustion of the current recovery attempt. The immediate objective for the bulls is to push above 596 , reclaiming the previous value area, which would provide stronger validation for the recovery. On the other hand, bears will be focused on taking down the 584 level, where there is likely big liquidity pool. Next week is rich in terms of key events. The FOMC minutes are scheduled for release on Tuesday, preceded by significant economic data on Wednesday. These releases will be closely scrutinized as investors remain deeply concerned about the possibility of a recession. Any signals pointing toward a slowing economy could spark fear and trigger increased volatility. While the long-term market trend remains intact, the warning signs outlined above suggest that investors should hold off on adding to their positions for the time being. P.S. ES futures are currently rising in the pre-market session. If this momentum doesn't transform into a sell-off after the bell, it will certainly be a positive sign for the buyers.
AMEX:SPY
by hermes_trisme
Aiming for ResilienceRecent Performance: The Invesco QQQ Trust has displayed mixed performance, recently showing bullish trends yet struggling to maintain momentum compared to indices like the S&P 500 and the Dow Jones. The underperformance of key technology stocks such as Nvidia, Apple, Google, and Meta has dampened sentiment around QQQ, contributing to its inability to break key resistance levels. While the overall market is trending upwards, QQQ's struggle highlights the vulnerability of its tech-heavy composition. - Key Insights: Traders should remain vigilant as QQQ faces critical resistance at 514.98, which is essential for establishing a bullish outlook. The support levels of 501.28 and 496.29 will play crucial roles in gauging QQQ's resilience. Current market sentiment suggests that while broader indices may regain traction, QQQ's performance hinges on the recovery of its major tech constituents that are currently facing selling pressure. - Expert Analysis: Market experts advocate for a cautious yet optimistic approach to QQQ. There is a consensus on the necessity for robust performance from major tech stocks to ensure QQQ can recover and progress. While some analysts project potential upward movement supported by bullish trends in other segments of the market, they stress that any sustained gain in QQQ will depend heavily on overcoming resistance and the broader tech market environment. - Price Targets: Next week targets include T1 at 516.00 and T2 at 520.75. Stop levels should be set with S1 at 501.28 and S2 at 496.29 to align with a bullish strategy, as current market price of 505.79 fits the required criteria. - News Impact: Market participants are closely watching macroeconomic indicators and sector-specific developments leading into holiday trading. Notably, upcoming earnings reports from major tech firms could greatly influence QQQ’s trajectory, adding to the significance of monitoring performance as traders prepare for a potentially impactful period.
NASDAQ:QQQLong
by CrowdWisdomTrading
Take Advantage of SPY's Bullish Momentum Next WeekRecent Performance: The SPDR S&P 500 ETF (SPY) is currently showing strong bullish momentum, trading at 595.51 and maintaining its position above all major moving averages. Market reports indicate that buyers are actively engaging, particularly as indices like the S&P 500 and Russell 2000 experience upward movement. Overall, SPY's recent trading activity reflects resilience and an optimistic market outlook as it gears up for potential new highs. - Key Insights: Investors should focus on the bullish sentiment surrounding SPY, as experts predict solidifying performance near critical resistance levels. With inflation on the rise and projected rates around 4-5%, traders should consider how these factors affect their strategies. The potential for a soft economic landing amidst inflationary pressures presents both opportunities and challenges in navigating SPY's upcoming movements. - Expert Analysis: Market analysts express a predominantly bullish sentiment for SPY, anticipating a challenge at resistance levels which could catalyze further upward momentum. The continued discussions regarding interest rates and inflation will remain pivotal in shaping market conditions and investor sentiment. Despite a likely increase in market volatility towards the end of December, there is cautious optimism for SPY's ability to maintain its upward trajectory. - Price Targets: Based on current market dynamics: Next week targets: T1: 600 T2: 605 Stop levels: S1: 593.73 S2: 591.94 These targets align with the projected trading range and support levels, providing realistic expectations for the next week's performance while maintaining robust bullish strategies. - News Impact: Upcoming volatility is expected in the markets due to inflation concerns and key interest rate discussions. As we near December, trading activity may fluctuate, influenced by holiday sentiments. Market participants should closely monitor SPY's price movements around the 600 resistance level, as it could serve as a critical juncture for testing bullish strength, shaping trading strategies accordingly.
AMEX:SPYLong
by CrowdWisdomTrading