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280% Last Week...Here's the next oneAMEX:SPY Pennybois weekly options. Two weeks ago we gave you the $555 CALL 9/27 with a break over $500. ($460 -> $1763) Remember, we are preparing for both sides of the equation. The chart will show us what to do. 15 minute candles CLOSES for confirmation. Short-term Range: $568 to $572 ($570.36 mid-point) $538-$545 is an accumulation zone. Shay is leaning bearish to retesting September lows but doesn’t think we will fall below $510. Low volume yesterday. September and October can bring some “wonky things”. Great time to get some cheap hedges. Polarity at the election. Chips off the table until clarity into the market? $570 CALL 10/11 Retest & Close OVER $568 Targets: $570, $572 $570 PUT 10/11 Rejection & Close UNDER $572 Targets: $570, $568
AMEX:SPY
by PennyBois
SPY/QQQ Plan Your Trade For 9-24 : Counter-Trend BreakawayToday's counter-trend Breakaway pattern suggests the markets will attempt to move downward (counter to the current Bullish trend) and attempt to find support. I believe the downward price move in the SPY will target the 565-566 level for a low today - setting up a solid reversal rally phase going into the rest of the week. We didn't see much downward trending yesterday - so, today could be the day the markets attempt to flush downward a bit. I'm still urging traders not to overreact to this minor downward price move (potentially today). My analysis suggests the SPY is still on a path to target 595-605 before Oct 10th or so. Gold/Silver will likely move downward today - setting up a nice base before the next rally phase higher. The strengthening US Dollar will continue to put pressure on Gold/Silver - but I don't believe the US Dollar will rally above 102 at this point. BTCUSD appears to be rolling over into a consolidation phase. I believe we could see $60k to $62k before the end of this week as a base/bottom. Now if not the time to be foolish. Just sit back, time your entries, and prepare for the next rally phase in the markets. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
5
SPY - Tri-Star Pattern Bearish - About to Find OutVery interesting pattern showed up on the charts at the close of yesterday. Initially we had a shooting star, but three in a row? Very Rare indeed tri-star pattern which may sound cool but it is simply a random pattern. Does this imply a bearish reversal here? Nope!! Do not get too caught up in patterns that randomly appear vs orderflow which is a much better indicator of markets. So where are these levels? For bulls, need to clear 572 and sustain. This has been an area of selling or where buyers simply dry up. For Bears, do not want to see 567 given up. Again this is the area where buyers have been stepping in and sellers dry up. In short, this pattern simply is a result of many market variables. Shorts covering, reallocation of positions, some hype that we had a soft landing, blah blah blah and blah!!! Do not try and put a rational to why the market moves. Many I am sure are asking, "Goldbug why are you still holding your short, it must be more painful then Kamala's knee pads at a fund raiser?" Yep, down like $2800 for the trade, but I am looking for confirmation that the market is really breaking out, or that this is simply a fake out. So we get a close above 572, and the next move takes that out, well I'm out. All to often newer traders will get cold feet and close out a trade right before the move happens. Yep I've done it, still do it once in a while, but over time you tend to stick more to your analysis and wait for confirmation you are wrong. Going to update Bitcoin as well, it seems relatively bullish here, but maybe not so fast. On a positive side OLED META and BROS are doing well for us!!
AMEX:SPYShort
by goldbug1
4
$SPY September 24, 2024AMEX:SPY September 24, 2024 15 Minutes. Looks like consolidation was done yesterday. For the fall 572.88 to 565.17 AMEX:SPY retraced to 570 levels which is 61.8% retracement. Now we have a range fixed. Sell below 565 and buy above 570.5 as long as the bar is closed near bottom or top on that breakout. Also, in for the rise from 565.17 to 570.34 AMEX:SPY retraced yesterday to 568 levels which again represents 61.8% retracement for that rise. Bias is towards long. I will go long above 570.5 levels based on closure. I expect a gap up so as usual may not get a chance to enter. I will wait for first 15 minutes in case of gap up before taking long. Target 574 to 578 levels for the Fib extension as drawn in chart.
AMEX:SPYLong
by RiderTrader
4
SPY TA for 9/24/2024For tomorrow's trading session on SPY (S&P 500 ETF), the overall sentiment appears bullish, though some caution is warranted given overbought conditions on several indicators. Key Price Levels: Resistance: The major resistance level to watch is around $572.89, which aligns with the recent highs. This will be a crucial test if the bullish momentum continues. Support: Immediate support is around $565.19, followed by a stronger support level near $559.90, which could act as a safety net if the market turns bearish. Technical Indicators: Moving Averages: The 5 and 10-period moving averages (both simple and exponential) are giving strong buy signals, which suggest continued upward momentum in the short term. RSI (14) is currently at 59.15, indicating that SPY is in the neutral zone but edging closer to being overbought. This suggests there is still room for more upside before entering overbought territory. Stochastics (9,6) and StochRSI are both in overbought zones, which could signal a potential pullback or consolidation if these conditions persist. The MACD (12,26) is in buy mode, showing a positive momentum shift that could support further gains. ADX at 25.7 is signaling a weakening trend strength, so while the current uptrend remains intact, it may not be as strong as earlier sessions. Volatility: The ATR (Average True Range) is low, indicating less market volatility, which may result in more stable price movements. Market Sentiment: Barchart data shows a consensus toward a bullish bias with "Strong Buy" signals from both moving averages and technical indicators. However, some indicators (like Williams %R and CCI) also point to overbought conditions, which could lead to a brief pullback before another rally. My Thoughts: Given the positive momentum, SPY is likely to test the $572.89 resistance level during tomorrow’s session. However, the overbought signals mean a slight pullback or consolidation is possible, particularly if SPY cannot break through that resistance. If SPY pulls back, the $565.19 support should be a critical level to monitor. If breached, the next key level to watch would be $559.90. For tomorrow, if you're looking to trade the open, consider: A buy if the price action stays above $569 with strong volume. Watch for a potential rejection around $572, which could lead to a short opportunity targeting $565. Be cautious of low volatility, as it may indicate smaller price swings that could make scalping less effective. This information is provided for educational purposes and should not be considered financial advice. Trading in the stock market involves significant risk, and you should always conduct your own research or consult with a licensed financial advisor before making any trading decisions. Past performance does not guarantee future results. Be aware of the risks associated with leverage, margin, and short-term trading strategies such as scalping. Always use proper risk management techniques to protect your capital.
AMEX:SPYLong
by BullBear-Insights
Clean Break To The UpsideFalling Wedge Pattern Success rate : Falling wedge statistics - In 82% of cases, the exit is bullish. - In 55% of cases, a falling wedge is a reversal pattern. - In 63% of cases, the pattern's price objective is achieved when the resistance line is broken. Why should you buy into bonds after a rate cut? HERE ARE 5 REASONS... When a central bank cuts interest rates, bonds can become more attractive for several reasons: 1: Bond Prices Tend to Rise: When interest rates fall, the yield on new bonds is lower, making existing bonds with higher yields more attractive. As a result, the price of existing bonds rises, which benefits those who already own them or buy in anticipation of further price increases. 2: Fixed Returns Become More Attractive: After a rate cut, returns from savings accounts and other short-term investments decline. Bonds, offering a fixed rate of return, become more appealing, especially for income-focused investors looking for stability in a low-rate environment. 3: Lower Future Borrowing Costs: A rate cut often signals that borrowing costs will stay low, benefiting businesses and governments that issue bonds. This may lead to more bond issuances, and investors can capitalize on buying bonds before yields drop further. 4: Hedge Against Economic Uncertainty: Rate cuts often occur during economic slowdowns or periods of uncertainty. Bonds, particularly government or high-quality corporate bonds, are seen as safer investments compared to stocks, making them attractive for risk-averse investors. 5: Capital Gains Potential: As bond prices increase with falling rates, there is an opportunity for capital gains. Investors can potentially sell bonds at a higher price than they were purchased for, profiting from the price appreciation. In short, buying bonds after a rate cut can offer both income stability and the potential for price gains, especially in a low-interest-rate environment.
NASDAQ:TLT
by FlyingWiener69
$50 by Nov 5 Appears we've had an accelerated move to the low $40's already. Was expecting this by x-mas. Now expecting a move to $50 by election day. There is some uncertainty who will win, but a push to the 88.6% fib is highly probable. Depending on who wins, we will see a push to between $54-62 range, or a temporary retrace. Feds have cleared the way for more rate cuts. Mostly likely another .25 before election day, just so they look good, but not "influencing" the market/election in any way, of course.
AMEX:TNALong
by ep7
Fork in the road... SPX EquitiesGeneral historic trends show printer money injection as a stimulant of equity valuations, with historic possibilities of repeating as well as a none money injection paths shown below. Whilst i enjoy a bullish market over many chart observations we have to conclude a retest of lower support before we plan to go higher. If market is left to its own devices it will flush bad debt out of the economy causing a large correction but a healthy stable recovery after the fire.
AMEX:SPY
by SuperScholarXYZ
SPY/QQQ Plan Your Trade For 9-23 : GAP Breakaway PatternToday, I believe the SPY will consolidate downward after last week's Fed rate cut. I believe the next move for the SPY/QQQ will be higher, but I feel the markets need a pause phase to settle before moving into the rally phase near Wednesday (9-25). Overall, I believe the SPY/QQQ and Gold/Silver will pause in early trading this week, then move into a continued rally phase as the markets digest the Fed rate cut. Remember, this 50bp cut won't translate into any real immediate move of 2-4%. The way the markets work is they transition into the opportunities created by the rate cut. That means we'll see technology and speculative stocks attempt to bounce higher going into October 14-15 - maybe a bit further. But, I do expect a wave of selling to hit just before the elections - so I'm warning everyone to stay cautious after October 11-14 as I believe the likelihood of a moderate Flash-Crash (Deep-V) type of event is very high. Right now, the markets seem like they want to settle and attempt to break away from recent resistance areas. This is more evident on the QQQ chart. Your opportunity to buy into lows over the next 2-3 days will allow you to really benefit from the next upward rally phase. BTCUSD appears to be stalling/topping and will likely roll downward towards the 58k to 60k level over this same time. BTCUSD needs to settle into the next low before attempting to make another move higher (probably very late in October - after October 25-28). Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
5
Nothing More Than What I See!!!Well folks, I really put it out there today... 4 chart expectations... Last but not least, let's talk about NASDAQ:QQQ I am about a week late to this party and may have to readjust sooner than later on this one... I laid out some support levels in dark blue... Looks like Sloping Support is in tact... Visual test of Triple Top, does it break upward from there??? Anyone ever heard of Higher Lows??? I am Very Comfortable snagging NASDAQ:QQQ 494C expiring 9/27 on another Run To ATH Again, I don't know a darn thing... I'm just sharing what I see... Sorry for yall, the optometrist says I need glasses!!! I am by no means a professional investor, stock analyst, or financial advisor... I am a tier lower than an amateur beginning trader, so please do not jump into any recommended trades without doing your own research!
NASDAQ:QQQLong
by FliCityOptions
3
SPY LOVERS ! NEW ALL TIME HIGHS But be very careful ! Check hereFINALLY HERE ! NEW ALL TIME HIGHS ! But wait!!! do you really Trust those 2 last Dojis ? Here are 2 quick scenarios to analyze for the week: Scenario #1 (Green Line): The price may pull back to bounce off the order block zone I have marked in white, which we know as the institutional block where there was a lot of liquidity. I call this pattern in my trading system "N3" as it consists of 1 breakout + 1 pullback + 1 trend decision. Scenario #2 (Red Line): Always considering our active order block zone, the price may break through the block with strong momentum, confirming another pullback or bearish market for several days. In this case, AGAIN, the price could fall back to our buyer pressure zone (blue zone), where higher buying pressure volume has been shown. NOTE: All of this depends on the bearish strength the market carries; we can tell if the market will break downward by simply observing bearish volumetric candles or seeing a lot of active bearish volume. But for now, we can't do anything as long as the price remains within our bullish channel, which we'll keep monitoring throughout the week! The decision will become very clear once the price makes the choice to break out of my bullish channel. Best regards, and a million thanks for supporting my analysis!
AMEX:SPY
by RocketMike111