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SPY Technical Analysis for Oct. 30, 2024Technical Analysis Resistance Levels: 585.26: This level represents a recent high and serves as a short-term resistance. If SPY breaks and holds above this, it could lead to further bullish momentum. 584.44 and 583.05: These are additional resistance zones, highlighted in red, which could act as potential selling zones if SPY approaches them. Support Levels: 582.98: This support level has held several times, indicating it’s an area of buying interest. A breakdown below this could indicate bearish sentiment. 578.46 and 577.61: These lower support zones could come into play if SPY sees increased selling pressure, providing areas to watch for a possible bounce. Trendlines and Patterns: The downward-sloping trendline is broken, suggesting a shift from bearish to bullish sentiment, at least temporarily. A consolidation zone around 580-582 (marked in green) indicates a demand zone where buyers have previously stepped in. This could act as a key support if SPY retraces. Volume Analysis: Volume has shown some spikes near the resistance levels, indicating that traders are actively watching these levels. If SPY approaches these levels with high volume, it might either push through or face strong resistance. Momentum Indicators: The momentum indicator below the price chart is beginning to show bullish divergence, indicating that momentum may be shifting in favor of the bulls. This is supportive of a potential continuation to the upside, but it would require confirmation by holding above key support zones. Directional Thoughts For tomorrow: Bullish Scenario: If SPY opens above 583.05 and holds, it could attempt to test the 585.26 resistance. A strong breakout above 585.26 with volume might lead to further bullish moves. Bearish Scenario: A drop below 582.98 might lead to a retest of the 580.83 support level. A failure to hold above this could see SPY move towards the 578.46 level. Given the broken downtrend and initial signs of bullish momentum, I’m leaning toward a bullish outlook for tomorrow as long as SPY stays above the key 582.98 level. Watch for entry points near support and potential targets at resistance levels. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and you should consult with a financial advisor to ensure it aligns with your individual circumstances. Always do your own research before making any trading decisions.
AMEX:SPY
by BullBear-Insights
Chop, Chop, Chop!!! ES/SPY Weekly Analysis!It’s Tuesday’s and SPY and ES are still awaiting a breakout. Price action has been very choppy the past few days, with no clear sign of direction. We notice that ES has a 2HR FVG above at 5910. Once ES fills this gap, we could be ready to break out and continue up, forming new all time highs. But keep in mind we could also hit our heads at that level and fall back down. Looking at SPY on the daily chart, we notice that SPY has a wick left in a daily FVG below at 573. This is usually an indicator that price action will want to come back down at some point. Timing it is key, while also remaining patient for the right set-up to reveal itself. This Friday is Non-Farm Employment Change. A time when the markets can produce some really volatile moves. As we are approaching Friday, we are studying the candlesticks to see how they form patterns, signaling the upcoming break-out. We have been trading in a tight range on SPY from about 585 to 580, with a few wicks dipping its toes into the 578 area. This week closes with Non-Farm Employment Change, and next week closes with a new U.S President and new federal finds rate. We are not yet sure which event will be the catalyst to the breakout, either up or down. These events will cause a lot of emotions and possible volatility in the markets, so it really could go either way. Tonight when ES opened back up this evening, we see how it gapped up. A gap up usually means an immediate pullback. Once price action comes down to fill the gap, we would need price to stay down if it were to continue to fall. If we find support then it’s possible we could chop a bit longer, or make our way to the upside!
AMEX:SPY
by RandiMichelle
How my chart look, using (S)&(R) with OrbFib. Open~Close.When Market open: 1) wait 5min close to draw Orb Fibonacci(0%,0.5%1.0%,1.5%,2%) wait 15min to close to draw Orb Fib. 2) Keep looks for (S) anf (R) to draw after 5min&15min candles close. 3)use (Support)&(Resistance) from your "drawing" and (Support)&(Resistance) from "Orb Fib" levels to CALCULATE your Risk to decide where is to enter trade. Sniping tips: Entry signal look for (S) or (R) pullback rejection by bouncing the level of (S)/(R), Reason is bc it show solid respect to that specific (S) or (R).ITo me it's an area that Price is not ready to break over/under yet. That will allow you time use that current new (S)/(R) rejection entry to aim that prev (S)/(R)! and Possibly break out of that too, just make sure you are following the bigger picture trend!
AMEX:SPYEducation
by FIBivanSPY
SPY/QQQ Plan Your Trade Update For 10-29 : Ripper Apex BreakoutThis short video highlights the Apex Volatility breakout in the SPY today and shows the ripper rally in Gold & Bitcoin. If you've been following my research, you already know I called these moves many days ago. If you are new to my videos, this is an excellent way for you to see what I do, learn from my videos, and attempt to see now my research fits into your trading style. My single goal is to make you a better trader - and I hope I'm doing that with all the content I provide. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
4
ERY from $21.80 to $26MODs 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 all channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at oversold level TTM Squeeze is off TTM Squeeze momentum is down VBSM is turning negative Impulse MACD is has dropped tp the downside Price at near 3.618 ext Fibonacci level In at $21.80 Target is $26 or channel top
AMEX:ERYLong
by chancethepug
XLE BearLong Term Bearish on XLE The deflation narrative is now the contrarian narrative . However, XLE the SPDR Energy giant is signaling a hefty drop on the 3M stochastic RSI . This signal has been produced 3 times in the last two decades leading to multiple 50%+ drops in value of the fund. The 5-wave impulsive move looking for a similar 3 wave a-b-c corrective wave down to it's most recent corrective wave. The yield curve un-inversion (zoom in on a 10Y/02Y) is signaling the opposite of the media narrative of higher rates for longer (pending Trump). However, I believe bond bulls are preparing for economically stormy waters in equities. XLE appears to reflect this. Considering Jan '27 70P's for wave A with a PT of 55-65$. Not financial advice! . . . . . . Proverbs 14:12 There is way that seems right to a man, but it's path that leads to destruction. Psalm 119:105 Your word is a lamp to my feet and a light to my path. Acts 4:11 This Jesus is the stone that was rejected by you, the builders, which has become the cornerstone.
AMEX:XLEShort
by rhall6451
ARK Innovation fund ETF - consolidation then upside break Bullish on ARK so long as and I expect that the price can stay above the bottom ascending sloping trend line. Then breaks to upside out of some form of consolidation shown as for example a triangle pattern. The market has miss priced her fund - I do not own any and no biased love listening to her updates and its really tough being in innovation and waiting for the rest of the world to catch up to her ideas. Fingers crossed that Kathy's dreams come true! Love to have a sit down and have a cup of tea with her and her team! She always has good people around her. That her funds price takes off and gets back to where it should be ! There are lots more ideas out there, financial modelling big picture thinkers! World needs more of these people! A fund could buy on the trend line and remain in the green
AMEX:ARKKLong
by William_Playfair
Purchase of the Aberdeen Standard Physical Silver Shares ETF (SIJustification of the investment: 1. The growth of industrial demand for silver Industrial use accounts for a significant share of global silver consumption — about 50-55%. The main application is electronics, electrical engineering, solar panels. The demand for silver, as a key component of these technologies, continues to grow with the development of renewable energy sources and electric vehicles (EV), which makes the metal an important resource in the coming years. Silver consumption in the automotive industry is expected to reach 90-100 million ounces by 2025, supporting long-term growth in demand for the metal. In particular, silver-zinc and lithium-silver technologies in batteries play an important role, providing a long-term potential for increasing demand in the electric vehicle industry. 2. Limited supply and scarcity Against the background of growing demand, there is stagnation in silver mining. Global silver production in 2023 amounted to about 830 million ounces with consumption of 1.3 billion ounces, indicating a significant supply shortage. In the future, this difference may increase further due to depletion of mines and limited commissioning of new capacities. This situation creates prerequisites for a long-term increase in the price of silver. 3. Projected price growth The price of silver is expected to rise to $35 per ounce in the coming months, with a possible correction to $30. In the future, the level of $ 50 per ounce may be reached in 1-3 years, which was a historical maximum in 2011. This growth is supported by both industrial demand and investment interest in the metal, especially in the context of inflationary expectations and instability in financial markets. Instrument Selection: The selection of the Aberdeen Standard Physical Silver Shares (SIVR) ETF is based on its predominantly low management fee compared to the similar iShares Silver Trust (SLV) ETF. At the same time, the SIVR fund also tracks the value of physical silver, which makes it more attractive to long-term investors looking for exposure to silver with minimal costs. Possible risks: - Fluctuations in energy prices can affect the cost of silver production. Silver mining is energy intensive, and any significant change in energy prices can lead to increased costs for producers. - Dependence on industrial demand: Lower demand in key industries such as solar panels or electric vehicles could slow the rise in silver prices. - Macroeconomic risks: the price of silver is influenced by general economic conditions, including fluctuations in the US dollar and global economic crises. Conclusion: The purchase of the Aberdeen Standard Physical Silver Shares (SIVR) ETF represents an attractive opportunity for investors seeking long-term exposure to silver at minimal cost. The projected growth in demand for the metal, limited supply and favorable market conditions create positive expectations for the price of silver in the medium term.
AMEX:SIVRLong
by juliakhandoshko
SPY Technical Analysis on October 29, 20241. Chart Patterns and Price Action: Descending Triangle: SPY is forming a descending triangle pattern with lower highs, which typically suggests bearish pressure. A break below the triangle support could indicate a bearish continuation. Downtrend: The chart shows lower highs and lower lows, confirming a short-term downtrend. 2. Support and Resistance Levels: Immediate Resistance Levels: 579.80 - 582.98: This zone represents a resistance cluster, where SPY has faced selling pressure in previous sessions. 584.44 - 585.39: If SPY breaks above the immediate resistance, this higher level may act as another cap. Support Levels: 577.61: Immediate support, where SPY might find buyers if it dips early in the session. 574.41: A key support level; a break below this could indicate increased selling pressure. 3. MACD and Volume Analysis: MACD: Currently showing minor divergence near the zero line, signaling potential indecision. Watch for a clear crossover to gauge momentum. Volume: Volume spikes align with sharp moves. The last session’s volume decrease suggests a possible consolidation before a decisive move. 4. Scalping Strategy for Today: Entry Points: Long Entry: Around 577.61 if it shows a strong bounce with volume. Confirm price action for a reversal before entering. Short Entry: Below 574.41 if it breaks with high volume, targeting lower levels or trailing the stop. Exit Points: Long Exit: Near 579.80 - 582.98 resistance zone. Short Exit: Consider taking profits near 574.41 or lower if momentum continues. Stop-Loss: Place stop-loss slightly below 577.61 for long positions and above 579.80 for short positions. 5. Swing Trade Analysis: Directional Bias at Open: Likely a bearish open if it remains below 577.61. A test of this support zone may lead to a bounce if buyers step in, but a failure here suggests further downside. Intraday Movement: If SPY breaks above 579.80, a rally toward 582.98 could be in play, offering a short-term bullish setup. Below 574.41, downside continuation with 570 as a possible intraday target. Close Expectations: Potential bearish close if it fails to reclaim 579.80. A break below 574.41 could indicate bearish continuation for the following days. 6. Key Levels Summary: Support Zones: 577.61, 574.41 Resistance Zones: 579.80, 582.98, 584.44-585.39 Disclaimer: This analysis is for informational purposes only and not financial advice. Trading involves risk, and past performance is not indicative of future results. Always do your own research and consider consulting a financial advisor.
AMEX:SPY
by BullBear-Insights
2
$IWM Analysis, Key Levels & Targets for 10.29.24 So we got above that mess of resistance - that is impressive for sure. And the 35EMA is still underneath the 30min 200MA - so believe it of not we are bearish here until that crosses. And it looks like with a down gap at open this could be a level of rejection here today. This does look very bear flaggy to me - though yesterdays price action really tried to keep it out of forming one but today may prove be the followthrough for that. If that’s the case then the 50DMA would be a good target - though it’s not in today or tomorrow’s trading range - definitely could be by the end of the week.
AMEX:IWM
by SPYder_QQQueen_Trading
$QQQ Analysis, Key Levels & Targets for 10.29.24 Alright, y’all…. So I am still sick so no videos until this get’s cleared up. But here is the chart for today. I feel good enough to maybe trade today but still kind of Meh… LOL…. I don’t get sick often and MAN this stinks. So a regression trend off of those two highs (dashed green line) point to that gap from last Thursday with the 1hr 200MA as an area of interested. The direction here is sideways and slightly up (very slightly) still moving with the momentum us the moving averages underneath us here. Up gap from Friday with the 30min 200, Upgap from Thursday with the 2hr 200MA and the 50DMA underneath us. 499-500 resistance. Top of the implied move at 500 and the trading range for Wednesday is wider Lots of big earnings this week and I wish I was feeling better to work on some of them…. GL, y’all
NASDAQ:QQQ
by SPYder_QQQueen_Trading
2
$SPY Analysis, Key Levels & Targets for 10.29.24AMEX:SPY Analysis, Key Levels & Targets for 10.29.24 Alright, y’all…. So I am still sick so no videos until this get’s cleared up. But here is the chart for today. I feel good enough to maybe trade today but still kind of Meh… LOL…. I don’t get sick often and MAN this stinks. Previous support (580) is right at the bottom of the gap we opened yesterday 35EMA is still above the 30min 200MA. ATH’s are at the top of the implied move for tomorrow. Under 580 the next support is 575 and a 1hr 200MA coming up as well. Honestly looks fun!!
AMEX:SPY
by SPYder_QQQueen_Trading
1
Weekly Options: Range Bound and Prepped for Both Up or DownAMEX:SPY AMEX:SPY is currently consolidating between a key support level and long-term trend support, hovering in the $580.90 - $583.60 range. The market's short-sighted focus on upcoming major tech earnings and elections has kept price movement tight. We’re positioned at a crucial point that could either send AMEX:SPY surging to new all-time highs or testing the daily 21 EMA for support. While our bias leans bullish, the downside trade presents a hedge opportunity, especially valuable for tech-heavy portfolios. Our Weekly Options 💡: 📉 $577 PUT 11/6 Entry: Confirmed 15-30 minute close under $580.90 with a retest rejection 🎯: $578, $576, $574.73 📈 $582 CALL 11/6 (Consider Call Debit Spread to lower cost: $584 STO | $582 BTO) Entry: Confirmed 15-30 minute close over $580.90 and trend support 🎯: $582, $583.60 Stay prepared for a potential breakout or breakdown with these setups, and let the chart confirm the direction.
AMEX:SPY
by PennyBois
SPY/QQQ Plan Your Trade For 10-29 : Gap Defender PatternToday's SPY Cycle Pattern is a Gap Defender in Counter Trend mode. Even though I forgot to show you the pattern page in this video, today's video suggests the SPY will attempt to protect and defend yesterday's opening gap price range - possibly attempting to move a bit higher as I predicted. With Bitcoin rallying away from the consolidation range, I see this as a "move to hedge against fear". I believe Gold and Silver could make a strong move higher as this hedging moves across all fear-base hedge assets. Additionally, both presidential candidates support renewed legislation for Bitcoin & Cryptos in the US - so either way I believe the digital currency world is ready for US involvement. Right now, I see the markets as trying to make a "last gasp effort" at a rally into Wednesday. Then, I believe the markets will roll into a broad contraction phase setting up just before the election as liquidity vanishes from the markets. Price volatility should be EXTREME between Nov 1 and Nov 6. Play the next 2 weeks very smart. Otherwise, your lumps could be painful. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
3
Trading Idea: Buying the VanEck Vectors Rare Earth/Strategic MetIntroduction The VanEck Vectors Rare Earth/Strategic Metals (REMX) ETF is a US-based fund focused on rare metals and strategic resources that play an important role in the development of high technologies. REMX repeats the performance of the MVIS Rare Earth/Strategic Metals index. The fund invests in various mining companies, most of whose assets are located in the United States, China and Australia. The Fund balances its assets quarterly and evaluates them based on the weighted average market capitalization. Justification of the purchase 1. The REMX ETF provides exposure to companies engaged in the extraction and processing of rare earth metals, as well as other strategic resources such as lithium, vanadium and cobalt. These materials are the main components for high-tech devices such as electric vehicles, batteries, renewable energy and electronics. The current value of the fund is $46. The price has decreased since 2022 from its maximum of $120 and is at its lowest values over the past 4 years, due to changes in prices for rare earth metals and geopolitical factors. However, the long-term outlook remains positive due to the expected growth in demand for these resources. 2. Increasing demand for rare metals This is facilitated by the transition to "green" technologies and the development of electric vehicles. For example, the global electric vehicle market is projected to grow by 17-18% annually over the next 5 years. Since rare earth elements are necessary for the production of electric vehicle engines, lithium batteries and generators for wind turbines, this provides the foundation for rising prices for rare earth resources and companies working in this field. Analysts expect that REMX may show an average annual growth in the range of 20% over a 2-3-year horizon. The growth of the fund's share prices will directly depend on the demand for rare earth metals and possible supply shortages caused by geopolitical instability, in particular in China, which is the main producer of these elements. 3. Diversification through REMX REMX includes a wide range of companies operating around the world, including China, the USA, Australia and Canada. Among them are both major players such as MP Materials and emerging companies, which provides diversified access to the rare metals sector. Diversification in the fund reduces investor risks associated with individual companies or countries. Risks 1. Dependence on China About 80% of the world's production of rare metals is concentrated in China, which creates a risk when the political or economic situation changes. Possible export restrictions from China may cause volatility in the rare metals market and, accordingly, in the REMX stock market. 2. Geopolitical risks Trade wars and sanctions can lead to supply problems, which will increase price volatility. For example, China's recent actions to restrict exports of rare earth elements used in military technology demonstrate the possible risks for investors in this sector. This may have a short-term negative impact on the value of the ETF. 3. Price volatility of metals The value of rare earth metals can be extremely volatile due to changes in supply and demand, which will also affect the fund's shares. Any sharp decrease in demand from major buyers, such as electronics or electric vehicle manufacturers, could negatively affect the price of the ETF. The prospects 1. Growing demand for electric vehicles and renewable energy The global electric vehicle market is expected to increase by more than 70% by 2030, which requires significant amounts of rare metals such as neodymium and praseodymium. Wind turbines and solar panels also require large volumes of these elements to generate energy, which supports long-term demand growth. 2. Long-term forecasts of price growth for rare earth metals Experts believe that prices for rare metals will steadily increase in the next few years, given their limited supply and critical importance for global technology chains. Combined with the efforts of Western countries to reduce dependence on Chinese supplies, this creates positive prospects for companies operating in this area, which will have a positive impact on the REMX ETF. Conclusion The purchase of the VanEck Vectors Rare Earth/Strategic Metals (REMX) ETF is an attractive investment idea for those who seek access to high-tech sectors and strategically important resources. Despite the existing risks associated with dependence on China and volatility in metal prices, the long-term growth prospects of the rare earth market, supported by the development of "green" technologies and electric vehicles, create conditions for an increase in the value of ETFs on the horizon of 2-3 years.
AMEX:REMXLong
by juliakhandoshko