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SPY/QQQ Plan Your Trade for 10-7 - SPY Cycle Patterns RoadmapThis week, I'm trying something I started over the last week or two - a "Roadmap" of what I expect to see price do going forward 7-10+ days. Now, this is something most people won't do because it presents a "live or die" outcome. Either I'm going to be right (or somewhat right) about price action and can live with my expectations - or, I'm going to be completely wrong about all of my expectations and it will prove to be a failed exercise in the use of my SPY Cycle Patterns. So, at this point - you know I'm hoping price does exactly what I expect it to do. I started doing this about 2 weeks ago. I just started calling it the "Roadmap" for traders (tieing into the Plan Your Trade concept). What I'm trying to do is to show you how I use my SPY Cycle Patterns (and other analysis techniques) to try to stay ahead of market trends. And you can learn to do this as well. It just takes time, practice, and knowledge. So, as we start the week out in early October - let's see how this plays out and if we get any surprises with price action. I spend quite a bit of time going over BTCUSD today - pay attention. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
S&P bulls maintain control but no initiative yetLast week was characterized by controlled selling, with prices drifting down slowly as the market awaited the unemployment data released on Friday. As we can see on the daily chart, sellers were unable to close the day below the previous day's low, even after a significant sell-off on Tuesday. Once the unemployment data was published, alleviating concerns about a potential recession, the bulls regained control, and the week closed on a positive note. The next key objective for buyers is to break through the resistance around 574.7 . Given that this level has been retested multiple times, it's unlikely to hold. However, we still need to closely monitor the price's reaction to this level and observe what happens immediately after the breakout. The long-term outlook remains bullish. In the short term, there is still a high possibility that prices will continue consolidating within the 565–575 range , as the market remains influenced by political uncertainty in the U.S.
AMEX:SPY
by hermes_trisme
TBT- Look Out for Exploding RatesThe Federal Reserve's aggressive 50 basis point rate cut despite headline inflation numbers coming in mixed resulted in an immediate reaction from the longer term bond yields. With no hope of moderating national debt numbers, no matter which party prevails next month, the consensus seems to be much higher long term rates. Accelerating oil prices and nervousness over the Middle East concerns may seal the deal. With the US Strategic Oil Reserves drained over recent years, a supply shock could boost oil prices dramatically. Higher rates may also push gold and silver prices down temporarily, such moves would be an opportunity to further accumulate as dollar destruction is inevitable. While the administration hypes lower inflation numbers, moves in base metal stocks in addition to rising longer term interest rates certainly tell a much different story.
AMEX:TBTLong
by AssetDesign
UST in short termAnother great opportunity to work with U.S. government debt in the short term. We have all noticed that after the 50 basis point rate cut by the Federal Reserve, the reaction of the fixed income markets was mixed. Geopolitical and domestic issues did not allow institutional investors to act freely, leading to a reverse effect. Currently, another 50 basis point cut is expected, and the treasury curve is in a flattening phase. Yields have risen again. This is exactly what we call a great opportunity to re-enter the markets with 6-12 month expectations. #UBT #TLT #UST
AMEX:UBTLong
by gorgevorgian
US Inflation, Earnings Season Kickoff, Markets on EdgeS&P has failed to make all-time highs Dow has failed to make all-time highs Nasdaq has failed to make any new highs Russell has failed to make any new highs Oil rips on Middle East escalations Dollar rips on technical support and bear trap play. Dollar is a big component to the stock markets edging higher for the remainder of the year (e.g. dollar strong = market weak, dollar weak = market strong) I'm keeping it very simple and staying patient for any "dip" opportunities on indexes, stocks, and watchlist items I still like Gold, Silver, Bitcoin long as well - again, patient on price action and entries Major News this week -US CPI (MoM, YoY, Core and Reg CPI) -Earnings Season Kickoff - DPZ, DAL, WFC, JPM, BLK and others Thanks for watching!!!
AMEX:SPY
by ChrisPulver
SPY: TA for Tomorrow. (10/7/2024)Chart Pattern Analysis Uptrend Formation: It appears that SPY has broken out of a descending trendline and is now in an uptrend. The price has bounced from the $565-$566 support zone and is currently trading near $572. This breakout from the trendline suggests a bullish reversal in the short term. Volume Analysis: There is no major spike in volume yet, so the momentum behind this breakout will need to be confirmed with higher volume during market hours. MACD Indicator (Bottom Oscillator): The MACD histogram is slightly positive but relatively flat, showing that while the momentum is neutral to bullish, it’s not strong yet. Watch for a further MACD crossover for confirmation of a stronger trend. Support and Resistance Levels Immediate Resistance: $574.41 - $575.00: This is a key resistance zone where SPY may face some selling pressure. If SPY breaks above this level, it could trigger a continuation to the upside. Immediate Support: $570.11: The current support level. If SPY pulls back from its current position, this level could act as a key area for a bounce. Critical Support Zone: $566.00 - $565.31: This is the lower range of support. If SPY falls below this zone, it could revisit lower levels, potentially continuing a bearish trend. Potential Price Action for Tomorrow Bullish Scenario: If SPY stays above $570.11 and continues higher, watch for a test of $574.41 - $575.00. A breakout above this resistance level could lead to a rally towards $578. Entry: Consider entering a long position above $572.36 after confirming sustained buying pressure. Look for higher volume to confirm the breakout. Take-Profit: First target at $574.41, and if the rally continues, second target at $578. Stop-loss: Set your stop-loss slightly below $570 to protect against a false breakout. Bearish Scenario: If SPY falls below $570.11, you might see a retracement back towards the $566 - $565.31 support zone. Entry: Consider a short position below $570 if SPY shows signs of weakening. Take-Profit: First target at $566, and if the bearish momentum continues, second target at $565. Stop-loss: Place your stop-loss above $572 in case of a reversal. Directional Outlook Bullish Bias: The breakout from the descending trendline and the sustained trading above $570 suggest a bullish bias for tomorrow. The key levels to watch are the immediate resistance around $574.41 and the current support at $570.11. Cautious Bearish: However, if SPY loses support at $570 and falls back into the descending trendline, this could indicate a bearish reversal. Summary Resistance: $574.41 - $575.00 Support: $570.11, $566.00 - $565.31 Bullish Entry: Above $572.36 with targets at $574.41 and $578. Bearish Entry: Below $570 with targets at $566 and $565. The direction is likely bullish in the short term, but watch for confirmation in volume and price action at the $570 support. Let me know if you'd like further insights!
AMEX:SPY
by BullBear-Insights
QQQ Dancing on a High Wire $422.93: Golden Genesis fib and top?=QQQ is dancing on a high wire, a Golden Genesis fib at $422.93 Failure here could indicate top is in, so this is a key level here. Just below is a fib confluence at $418, last stop before SERIOUS dip. It is PROBABLE that we orbit this fib for a while. It is POSSIBLE to bounce here and keep going up. It is PLAUSIBLE a bull trap / distribution is done. Here is a snapshot of the Genesis Sequence for the Q's: =================================================================================================
NASDAQ:QQQ
by EuroMotif
4
SMH shows long term signs of troubleSMH fails to make new highs since July peak going into sideways trend. This paints a picture of a long term reversal to bear side coming Comparing OBV trend with the March and July peak, we see that OBV diverges downwards while price continues indicating reversal After severe sell off in August, we see that price trends sideways failing to make new highs The sideways trend is during a typical rough time of the year, so weakness and volatility is expected Nov and Dec normally bring in strong rallies We could be simply looking at a pullback in time as ETF takes a breather from July peak, before rallying continues. The other alternative is that this may be distribution phase of a high risk sector preparing for a huge sell off.
NASDAQ:SMH
by ratchet-mint
1
SPY is looking Very Sexy ! There is 1 more step to go ! N3 Confirmed!! The price is doing exactly what we had predicted (see previous analysis). Indeed, the price bounced in the zone we had predicted last week, creating an "N3" pattern. Now, we are waiting for the final phase of the N3 pattern, which is to reach new highs or new extreme. What do we need to see? This phase is of great importance because, if completed, we would be at new historical highs again. The Key is the Last Candle: If you can observe the last candle on the chart, you'll see it has a very long lower wick. I call this a buying pressure candle; however, we need confirmation with the next candle, which should have a large bullish body in order to reach the new extremes we've been seeking. So, we can conclude that by putting all the points together when analyzing this chart, we have a bullish outlook for the rest of next week. However, it’s important to remember that we need solid confirmation with a bullish candle to confirm we will have a green week! Best regards and success in your trades. Thanks for supporting my analysis.
AMEX:SPYLong
by RocketMike111
$QQQ Longer ViewpointNASDAQ:QQQ is lagging behind AMEX:SPY and has not reclaimed ATH ' yet .' Looking at the weekly time frame, we can note that NASDAQ:QQQ has been bouncing off the trendline that started back in JAN 2023. It has touched and bounced off that trendline 3x so far: -MARCH 2023 -OCTOBER 2023 -AUGUST 2024 Each time it bounced, it ran for approximately 100pts + and took roughly 124 - 140 days before consolidation and/or a correction / retracement / pullback occurred. From a technical standpoint, NASDAQ:QQQ will attempt at All Time Highs (ATH) at $503.52 again. We have to be conscience of the divergence between AMEX:SPY and $QQQ. AMEX:SPY has already made a new ATH while NASDAQ:QQQ is lagging behind. If ATH is broken on NASDAQ:QQQ and price move similarly to the last two weekly trendline bounce, then price could reach $528 and some change before possible consolidation and/or a correction / retracement / pullback occurred with a timeline of around mid-December. Failure to reclaim and/or break ATH can cause NASDAQ:QQQ to return back to the trendline. This is NOT financial advice but an opinion.
NASDAQ:QQQ
by SADnation
SPY - short term Head and ShouldersFollowing up on my last SPY chart trend, we have emulated that fractal fairly closely over the last few days. The chart before us now looks to be presenting a Head and Shoulders pattern. Granted it is on a one hour timeframe and anything smaller than a daily for a head and shoulders needs to be taken with a grain of salt (although it can be seen there too) I maintain that the current global narrative will result in a downturn next week. I see two support lines; 1 basically at the neckline and 2 around the 555 price point. I maintain that we flush somewhere around 560 early next week. After closing my 565 strike puts out last Wed I bought the same strike and date (Oct 18) last Fri. I’ll likely sell a few of them if we range at the neckline/support 1 and will let the rest run if we break down under 564. There is a second spider as we enter into the Halloween season…just a bit of fun for me😊 Take care, MR
AMEX:SPYShort
by Mr_Robbers
$SPY OVERIVEW ON THE MONTHLY TIME FRAMEAn overview of AMEX:SPY from a technical standpoint. This does not include any fundamental / economical consideration. AMEX:SPY has been in this rising channel since 2020. Each wave / rejection from the trendline / channel caused a 10 - 12 month directional move 100pts +. AMEX:SPY is at the top trendline / channel again. Could see an upward continuation of price in an attempt to hit $600. Failure to break through $600 could start the retracement / correction / pullback over the next 10 - 12 months back to the bottom of the channel / trendline. This would put AMEX:SPY at around $500, give or take 20 - 40 pts. This would be in alignment with what some of the more well-known analyst / economist has been stating about 15/20% correction. Reason for the margin of error is the last two waves moved an avg of 140 pts. $500 is a key level psychologically and from an algorithmic point of view. $600 is also a key psychological / algorithmic level as well. If there is a break of this level, market could see another 20 - 40 pts topside move before consolidation and then possible retracement / correction / pullback. This is NOT financial advice but merely an opinion.
AMEX:SPY
by SADnation
1