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SPY Multi-Timeframe Analysis: S&P 500 ETF Trust (SPY)1. Weekly Chart: Uptrend Intact: The weekly chart shows that SPY continues to trade within a broader uptrend, consistently making higher highs and higher lows. It has held above its key moving averages, particularly the 50-week moving average (blue) around $515. MACD Momentum: The MACD histogram shows continued positive momentum. This suggests that bullish sentiment remains strong, with no significant reversal signals yet. Key Resistance: We are testing the $577 level, which appears to be a significant resistance zone. If broken, SPY could extend toward new all-time highs. 2. Daily Chart: Testing Resistance: The daily chart provides a clearer view of the immediate resistance at $577. We’ve seen several attempts to break through this level, but so far, the price has been contained below it. Moving Average Support: The 50-day moving average (green) has acted as strong support, currently around $555.80. As long as SPY holds above this, the bulls remain in control. Momentum Indicator: The MACD on the daily chart is trending positive, showing increasing bullish momentum. This signals that a breakout above $577 is likely if this momentum continues. 3. 4-Hour Chart: Bullish Momentum Building: The 4-hour chart shows a series of higher highs and higher lows, indicating the bullish momentum is building. Price has been supported by the 50-period moving average at $564.10. Immediate Resistance: The key level remains $577. A clear break above this resistance level on strong volume could signal further upside, potentially pushing SPY toward the $580-$585 range. MACD Shows Caution: While the MACD remains in the green, it’s showing early signs of slowing momentum on this timeframe. This suggests that a brief consolidation or pullback might occur before a breakout. 4. 30-Minute Chart: Tight Range Formation: On the 30-minute chart, SPY is trading within a tightening range, with support around $572.21 and resistance at $577.11. Key Trendlines: We can observe two converging trendlines (green and red), which often precede a breakout. If SPY breaks above the red trendline (around $577), it could lead to a strong upward move. Conversely, a break below the green trendline would signal a potential retracement. Bullish Outlook: SPY remains in a strong uptrend across multiple timeframes, with positive momentum indicators and key moving averages providing solid support. The next critical level to watch is $577. A sustained break above this could see SPY move toward the $580-$585 range, continuing the bullish trend. Risk of Consolidation: However, there is a risk of short-term consolidation, especially on the lower timeframes, before any major breakout occurs. A drop below $564 on the 4-hour chart or $572 on the 30-minute chart could indicate a deeper pullback.
AMEX:SPYLong
by Deno_Trading
1
SPY for Tomorrow (10/10/2024)Key Levels Support: 572.44: A recent support level indicated on the chart, near the current price range. 565.82 - 565.25: This zone represents a strong demand area, as indicated by the red bars below, which may act as a buffer if price retraces. Resistance: 577.71: This is the most recent high, indicating potential resistance if SPY tries to break upwards again. 580 level: Based on the trend, this could act as psychological resistance as well. Trend Analysis: Shows an upward trend indicated by the diagonal line, but there’s some consolidation happening near resistance. There’s also potential for a pullback to test lower support levels before making another upward move. EMA Lines: Short-term moving averages (like the ones shown) suggest bullish momentum as the price is trending above both EMAs. If price stays above the 573 level, the trend may continue upward. Strategy for Tomorrow: Bullish Scenario: If SPY opens strong and breaks above 577.71, you may look for a quick move toward 580. However, be cautious of any resistance forming at these higher levels. Bearish Scenario: If SPY fails to hold above the 573 level, look for potential support around 572.44 or lower at 565.82, which could provide a good entry point for a reversal. Disclaimer: This analysis is for educational purposes and should not be taken as financial advice. Always perform your own research and consider consulting a professional before making any trading decisions.
AMEX:SPY
by BullBear-Insights
$SPY October 10, 2024AMEX:SPY October 10, 2024 15 Minutes. 2 days patience paid off. AMEX:SPY broke 575 made a high 577.06 and retraced back to 575 to make a new high 577.71. So consider the 2 fibs Rise from 574..99 to 577.71. For this holding 575-576 is important. For the fib extension 564.49 to 573.36 to 566.63 (because two LL 566.24 and 565.49 had oscillator divergence) 100% extension was 575 levels. Hence was waiting to cross 575. Now holding 575 which is 38.2% retracement for the rise 566.63 to 577.71 we have a target 578-579 levels. On downside it is important to hold 570 levels as it is 61.8 retracement for the last rise from 566.63 and also 20 averages in 15 minutes. So today I will buy on retrace at 575-576 levels for 579 as target. The small rectangle box drawn is crucial to hold today.
AMEX:SPYLong
by RiderTrader
$DIA Tomorrow’s Implied Move for CPIAMEX:DIA Tomorrow’s Implied Move for CPI Ok. So I don’t have power so I don’t have much time to write anything too long here but this is the implied move is between 420 and 430 and we have the 30min 200 and 35EMA support for tomorrow at least. ATH’s just above us so if CPI is bad then we could get smacked here to retest that 30min 200 level and if not then 430 is the target for the week so that’s the target to the upside. We are bullish technically going into tomorrow but we all know how CPI and PPI days can be… GL, y’all.
AMEX:DIA
by SPYder_QQQueen_Trading
QQQ Technical Analysis for Tomorrow (10/10/24)Price Action Current Price: QQQ is trading around 492.95. Trend: It appears to be in an uptrend, confirmed by the ascending trendlines which show higher highs and higher lows. The price is currently near the top of this trend channel, meaning it might face some resistance soon. Support and Resistance Immediate Resistance: Around 494.00. The price has previously reacted to this level, indicating potential selling pressure as QQQ approaches this zone. Support Levels: 490.00: Immediate support near a previous consolidation zone. 488.39: A strong support level below 490. This level has held in recent trading sessions, indicating buying interest here. 479.89: A major support level that hasn't been revisited in recent sessions, but could serve as a critical point if QQQ breaks lower. Volume and Momentum Volume: There is a slight increase in volume as the price approaches resistance, suggesting possible selling interest or a breakout attempt. Oscillator/Indicator: It looks neutral at the moment, but given the uptrend, further upward movement is still possible. Future Outlook for Tomorrow Bullish Case: If QQQ breaks above 494.00 with strong volume, it could test the next resistance levels in the 496–500 range. Consider a breakout trade above resistance with caution, monitoring volume and momentum. Bearish Case: If it fails to break above resistance, expect a retracement toward 490.00 or 488.39, which could serve as re-entry points for long positions or targets for short-term shorts. Strategy Long: If the price pulls back to 490.00 or 488.39, consider long positions with stops below 487.00. Short: If QQQ fails to break 494.00 and shows bearish momentum, short-term shorts targeting 490.00 or 488.39 could work. Disclaimer This analysis is for informational purposes only and should not be considered financial advice. Trading involves risk, and you should conduct your own research or consult with a professional before making any trading decisions.
NASDAQ:QQQ
by BullBear-Insights
9
$DIA Analysis, Key Levels & Targets Review of Oct. 8th Alright, I’ve got to hurry now because I did lose power so I have limited time to get these charts up… but DIA took it all the way to the top of the implied move and is just under ATH’s heading into CPI. 35EMA found support on the 30min 200MA like we talked about yesterday - and came back up so we did not get that bearish confirmation. And really if you even look at yesterdays close we already had the bullish cross up in Stupid Willy. So DIA, the biggest winner today.
AMEX:DIA
by SPYder_QQQueen_Trading
1
$IWM Analysis, Key Levels and Targets Review of Oct 9thLook at this beautiful chart. Have you seen anything more technically perfect than this. I discussed so much of this price action in the videos lately, definitely on the weekend video, namely that once the 30min 35EMA crosses underneath the 30min 200MA that it should act as resistance and look at that… that’s exactly what it did. We popped up, filled that down gap from Monday, tapped the 30min 200MA and got rejected there. The 35EMA just didn’t support moving above that level today. We also saw the 1hr 200MA as a support. Know where your levels are. Im in the middle of Hurricane Milton in Sarasota right now so I hopefully will have power enough to get tomorrow’s range out for CPI but if not then you know why… LOL… Don’t worry y’all I’m in a very safe place. So even if I lose power I’m still safe.
AMEX:IWM
by SPYder_QQQueen_Trading
To chase or not to chase?Those in calls already are sitting nicely. Especially if they have taken out their original money from their profits. They now have a free trade basically. As for us, who have missed the run, the question is should we chase?. I say, don't chase. Wait for a pullback. Or if you wish, buy a small amount. Do not buy 10 far OTM calls, when you could just buy 1 ITM calls. Why?. Because ITM calls have less theta, so if the price goes your way, you can sell immediately for a profit. OTM calls you will not be able to get out, if it doesn't go your way. As for long-term direction, then i don't know. Basically we all messed up not getting in early on the run. Now all that is left is to chase, which is more risky.
AMEX:SPY
by Broketothebone
9
Break or Bust into Fed MinutesThe Federal Open Market Committee (FOMC) meeting held on September 17-18, 2024, concluded with a significant decision to cut the federal funds rate by 50 basis points, bringing it to a range of 4.75% to 5%. This marked the beginning of a new interest rate-cutting cycle, the first since March 2020. In their discussions, FOMC members noted that while economic activity continued to expand, job gains had slowed and unemployment had risen slightly, though it remained low. Inflation showed progress towards the Fed's target of 2%, but was still elevated​. The committee expressed a balance of risks regarding employment and inflation, indicating that they felt confident in this rate cut amid improved inflation data​. The FOMC also projected further rate cuts in the coming months, with expectations for an additional 50 basis point reduction over the next two meetings​. The economic outlook remains uncertain, and members emphasized that they would continue to evaluate incoming data and evolving conditions before making further adjustments​
AMEX:SPY
by FlyingWiener69
KOLD (from $57.85 to $64)MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at bottom of channels Stochastic Momentum Index (SMI) at oversold level VBSM is negative Impulse MACD is crossing over to the downside Price at near Fibonacci level In at $57.85 Target is $64 or green channel top
AMEX:KOLDLong
by chancethepug
4
SPY 0DTE After yesterday's bullish day, I'm going to sit back today and see what happens. SPY opened up at 573.16 today with a current ATR of 5.72. The upside can go to 578.88, and the downside is 567.44. Still, overall, really just basing here, but it feels like it's losing steam. Can we see 580? Yeah, it's high probability and much more likely. If this does run up to 578, I'll look to see if I can enter a short position with a target of 574 before we close today. If this falls down to 567 before the close, I'll take a look to see if I can catch a move to the upside to 572. Volatility is above 20 right now, so it is appropriate for me to take these types of quick trades if the set up is correct.
AMEX:SPY
by MMOTA_
1
SPY Ascending Wedge PathsNice rally for SPY off 565, now it's all the way back to the top end of the range near ATH. Nice little ascending wedge here, I'll be looking for longs on a retest if we break up above the wedge and past ATH. It could also be a good long if it pulls back to the bottom end of the wedge and holds. If we get the downside break, first target is the bottom of the range again around 565 and then the 560 area for a final target. Another bearish scenario would be a brief ATH break that has a hard rejection at the top end of the wedge and can't hold the previous ATH on a retest.
AMEX:SPY
by AdvancedPlays
SPY Technical Analysis on October 9, 2024 Price Action: Current Price: $573.33, with a recent high of $573.78 and support at $572.69. Trend: SPY is trading within an upward trajectory, breaking above previous resistance levels around $572, showing bullish momentum over the last trading sessions. Key Levels: Support: Immediate support at $572.69. Stronger support zone between $565.25 and $565.82, which has been tested multiple times as shown by the lower wicks in previous candles. Resistance: Immediate resistance at $573.78 (recent high). Higher resistance around $576, aligning with the trendline. Indicators: MACD: Momentum is mixed but leaning bullish as the histogram shifts slightly upwards. However, it still indicates choppy action, suggesting potential consolidation near current levels. Trading Plan: For Bulls: Watch for a continuation above $573.78, targeting the $576 level as the next resistance. Entries could be made on pullbacks to support at $572.69, with stops placed below $572. For Bears: A rejection from $573.78 could lead to a retracement toward the support zone at $565.25–$565.82. Look for a break below $572.69 to confirm a downside move. Outlook for Tomorrow: Bullish Bias: As long as SPY holds above $572.69, the short-term bias remains bullish. However, any failure to break above $573.78 might lead to sideways or slight bearish movements. Disclaimer: This analysis is based on technical data and is not financial advice. Please conduct your own research and consider risk management when trading.
AMEX:SPY
by BullBear-Insights
QQQ range boundQQQ hovering around the resistance of the core channel from 2010. Found support on the center of the black channel that is based on the COVID bubble. Price seems to generally range bound in this area between trendlines. Looks like more sideways without something big to push it one way or the other. Overall, it seems like tech has run out of FOMO. That does not mean we don't keep moving sideways and slowly up, but it does feel like any big moves to the upside are less likely.
NASDAQ:QQQ
by Dr_Roboto
1