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Technical Analysis of SPY (S&P 500 ETF Trust) for Nov. 12, 2024Overview: SPY is currently testing a significant resistance level following a notable rally from late October lows. The ETF has shown sustained upward momentum on the hourly chart, respecting the trendline drawn since the breakout. However, momentum indicators suggest the rally may be facing exhaustion. Traders should be on alert for either a breakout continuation or a potential pullback, depending on upcoming price action around this resistance area. Key Levels to Watch: Resistance Levels: $601.05: A critical resistance level that SPY is currently testing. A break above this could lead to further bullish momentum. $610.00: If SPY breaks above $601.05 with volume, $610.00 could be the next target for bulls. Support Levels: $589.84: The immediate support level. A break below this could signal a weakening trend and may indicate a retracement. $578.35: A more substantial support level to watch in case of a pullback, marking previous consolidation before the recent run-up. Indicators and Trends: Moving Averages (EMA 9 & 21): The EMAs on this chart have been a good gauge of trend direction, with the price remaining above both the 9 and 21 EMAs, which currently act as dynamic supports. As long as SPY trades above these EMAs, the short-term trend remains bullish. Volume Analysis: Volume shows signs of declining as SPY approaches resistance, indicating potential buyer fatigue. A breakout with strong volume would suggest conviction among buyers, while a drop-off in volume could lead to a consolidation phase or even a reversal. MACD Indicator: The MACD shows a potential bearish crossover on the hourly chart, hinting at a slowing momentum. Traders should monitor this closely; if it crosses below the signal line, it could reinforce a bearish outlook, potentially initiating a retracement towards the support levels. Trade Strategy and Actionable Insights: For Bullish Traders: Look for a confirmed breakout above the $601.05 level with above-average volume. If this occurs, consider entering a long position with an initial target around $610.00. To manage risk, set a stop-loss slightly below $589.84, as this level marks the closest support. For Bearish Traders: Watch for signs of weakness, such as a rejection at $601.05 or a drop below $589.84. If SPY fails to break out and begins showing bearish signals, short positions could be taken with a target towards the $578.35 level. Set stops just above the $601.05 resistance to limit potential losses if the breakout resumes. Final Thoughts: This is a pivotal point for SPY. A breakout above resistance with volume could propel SPY into new highs, while a rejection could spark a short-term pullback. Traders should closely monitor price action around these levels, as it will likely provide clearer guidance on the next trend direction. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and it's essential to do your research or consult with a financial advisor before making investment decisions.
AMEX:SPY
by BullBearInsights
4
SPY/QQQ Plan Your Trade For 11-12 : Top/Resistance PatternToday's video is filled with great content. Near the end of the video, I review the 11 SPDR sectors related to my deep research into my Anomaly price pattern. Right now, I see the markets as very over-extended (overbought). I believe the markets will attempt to contact over the next 15-20+ days - setting up a base/bottom before a very late-stage Santa Rally sets up. I've been very busy over the past few day and have a family member in the hospital right now. So, I'll be away from my PC for a bit today. Remember, protect capital at all times. I've been getting messages from people suggesting some traders are trying to go ALL-IN on some of these bigger price moves. My suggestion more than three weeks ago (and even right now), is you should be in 85% CASH unless you can take the LUMPS related to trading through a hotly contested election event. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
2
SPY S&P 500 ETF End of the Year Price Target If you haven`t bought the recent dip on SPY: Now with Goldman Sachs lowering U.S. recession odds from 20% to 15% and raising their 2024 year-end S&P 500 target to 6000 from 5600, the outlook for the market appears increasingly optimistic. The reduced recession risk suggests stronger economic stability, and the upward revision in the S&P target points to continued growth potential. Given these factors, I agree that a year-end price target of 600 on SPY is achievable.
AMEX:SPYLong
by TopgOptions
1
Will SPY Drop Back to the $580s? Time to Consider Buying Puts?Is SPY Overhyped? The Election Bounce Might Be Over – RSI is Screaming "Take Cover!" Look, I get it – SPY has been on a tear lately, soaring like a hot-air balloon fueled by election hype and investor euphoria. But let's slow down for a second. The market's been on a wild ride this quarter, with volatility hitting levels that could make even the most seasoned traders break a sweat. Between the election results, market speculation, and everyone's favorite fear – uncertainty – it's easy to get swept up in the hype. But here’s the thing: it looks like SPY might be a bit too overbought for comfort. The RSI (Relative Strength Index) is creeping dangerously close to overbought territory, which for anyone who's been paying attention is usually a sign that things are getting a little *too* frothy. Sure, a good rally feels great, but we all know what happens when everyone’s running for the exits at the same time, right? **Spoiler alert: it’s not pretty.** We’re staring down the barrel of Q1, and there’s no shortage of potential landmines. Rising interest rates, the fallout from whatever political circus unfolds next, and let’s not forget those pesky earnings reports that have a habit of disappointing just when you least expect it. With all this swirling, it wouldn’t take much for SPY to take a tumble back into the $580s, especially if the market gets a reality check. So, what should you do? Well, if you’re feeling a little wary of SPY’s relentless climb, maybe it’s time to consider buying puts. With volatility as high as it is, there’s potential for some serious upside if the market decides to retrace a bit. Plus, you know, better to be a bit cautious than regret not having protection when the tide turns. In short, SPY might have gotten a bit too cocky after the election results, and with the RSI flashing some red lights, it wouldn’t hurt to hedge your bets. You know, just in case it’s time for a little market correction – back to those sweet, sweet $580s. It’s a jungle out there, folks – better bring some puts for protection.
AMEX:SPYShort
by Premium-Flippa
Road To $600 SPY Target Reached Whats Next JoeWtrades The GoatCongratulations To Everyone Who Has Been Following My Posts Since Oct 10th On Spy Road To $600 I hope a lot of you did well with your Trading In the Market! So JoeWtrades What's next for Spy & The Stock Market as A whole? Is it time to pack up and exit the Market Lol No! Well I hear Warren Buffet Sold over 50% of all his holdings Berkshire Investments Apple Bank of America ECT. Ill tell you what's next I defiantly know something that will 10-30x in the next 45 days in a swing trade!! Anyways I expect Spy to continue its trend I will post order blocks on Spy along with Targets Tonight, Good Luck Traders & Don't Forget To like & Follow JoeWtrades!!!
AMEX:SPYLong
by JoeWtrades
1
$SPY ANALYSIS, KEY LEVELS & TARGETS for day traders 11.11.24All right, so today’s implied move is between 595 and 602. The average 30 day volatility between 591 and 604. Tuesday’s contract is between 594 and 603 the 35 EMA is just underneath the implied move so expect a flat or down day today. And keep in mind there is an up gap from last Thursday near the bottom of the trading range so that could offer a place where we see support. Stupid Willy is also at extreme overbought. See you guys tonight on the video.
AMEX:SPY
by SPYder_QQQueen_Trading
3
SPY/QQQ Plan Your Trade For 11-11: Gap Potential In Trend ModeHappy Veterans Day. Thanks to all the current and past service members who have dedicated so much time and effort to protect all of us from the evil in the world. If you have anyone in your family that has served in the military, please take a moment to call and thank them for their service today. As today is a Federal holiday, I expect the markets to be somewhat muted in terms of trends. We are still seeing BTCUSD rally higher as the Trump win delivers a clear mandate related to global crypto/blockchain opportunities. We are still dealing with a market in a post-election rally phase. I believe this rally phase will diminish over the next 5 to 7+ days and move into the early stages of my Anomaly phase. My research suggests the US and global markets are likely to move into a consolidation phase before attempting to move into a very late phase Santa Rally. So, at this point, with the SPY breaching 600 in pre-market trading, I would suggest traders start to PULL PROFITS and prepare for what I believe will be a moderate consolidation of price over the next 5-7+ trading days. Gold and Silver are still FLAGGING in an inverted Excess Phase Peak pattern. This is currently a bearish price trend - attempting to break higher to move into a rally to Phase #3 (consolidation). We could see some big price rotation today if Gold and Silver break above the FLAGGING trend. Buckle up. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
4
S&P Soars on Election Results in a Stunning RallyLast week's market movements provided a strong example of how impactful certain events can be on sentiment and momentum. In the last market recap, I highlighted uptrend continuation as the most likely scenario. However, at the start of the week, there was absolutely nothing on the chart suggesting a V-shape pivot. Week started on a weak note, but Tuesday marked a shift, as buying interest began to surface, quickly escalating into a stunning overnight gap once preliminary election results emerged. Essentially, the election results had a similar impact on the market as an earnings report can have on a company's stock price. This influx of optimism solidified bulls' control over the market, reinforcing a strong weekly uptrend. The buying wasn’t limited to a few sectors; instead, it was widespread, touching every major sector by the week’s end. Such broad-based buying underscores that the rally is not sector-specific but part of a larger, systemic movement. While we’re seeing robust upward momentum, it’s worth noting that both weekly and daily RSI levels are approaching overbought territory. However, as often observed in strong uptrends, prices can comfortably persist in the overbought zone. With no clear resistance above, I would strongly discourage trying to catch the top. Important levels to watch include 585 (VAH) , which is key in the event of a potential retest of the last consolidation zone, and 568 (major weekly low) , which buyers must protect to maintain control. P.S. If you missed this insane rally, don’t blame yourself too much. Had the election outcome been different, it’s easy to imagine the market would have plunged just as dramatically. So holding short-term position was similar to trading company earnings, which is, in a way, a form of gambling.
AMEX:SPYLong
by hermes_trisme
SPY Momentum Push: Key Levels for Scalping & Intraday TradingSPY is showing strong bullish momentum on the 1-hour chart, with a significant rally and potential resistance forming near the $600 psychological level. The trend remains upward, but overbought conditions may lead to a brief consolidation or pullback. Price Action Analysis: Trend and Momentum: SPY has been trending upward with a consistent series of higher highs and higher lows, maintaining support above the 21 EMA. The current price is hovering just below $598-$600, a key resistance zone. A breakout here could lead to a test of all-time highs near $610. Support and Resistance Levels: Immediate Resistance: $598-$600. A decisive breakout above could trigger more buying, targeting the next resistance at $605-$610. Support Levels: First support at $583.27 aligns with previous consolidation zones. Secondary support around $579.47, where the 50 EMA is likely to provide additional backing. Key level to watch below is $567.89, acting as a strong demand zone if a deeper pullback occurs. Volume and MACD Analysis: Volume has been declining slightly as the price climbs, indicating a need for caution if a breakout above $600 does not come with increased volume. MACD is showing signs of flattening, suggesting potential divergence, which could hint at a slowing momentum. Scalping Opportunities: Long Scalp Entry: Consider entering above $598 with a tight stop at $596, aiming for a breakout scalp targeting $605-$610. Short Scalp Entry: If SPY fails to break $600 convincingly, a short scalp entry at $598 could target the $583 support level. Swing Trade Ideas: A strong breakout above $600 with volume could be a good swing entry, aiming for a move toward the $610 level. If SPY fails to hold above $583, a bearish swing trade setup targeting $567-$568 support is a potential play. Disclaimer: This analysis is for educational purposes only and not financial advice. Always conduct your own due diligence before making trading decisions.
AMEX:SPY
by BullBearInsights
So, what happens next? I am not sure if everyone is wondering the same as me, but after the election results and seeing the PA reaction, I wondered “So…. What now?”. A challenging and interesting question that I don’t think I or anyone can answer with the upmost confidence. But I wanted to take the time to write out a post that combines some statistics, a recap of my YTD ideas on SPY and where we are now, and what the future could look like. I also hope to provide some perspective into the PA. I know for many of you, trading is new and a new exposure. For me, who has been trading since 2018, this year has felt like the most bullish year I have ever traded. But when I look at the objective data, it actually spells a different story. So make yourself comfortable, its probably going to be a long post! Forging into another era of Trump I will save any political opinions for elsewhere. But its interesting that Trump has been re-elected as my nascence in trading arrived under the Trump’s presidency. And interestingly enough, my indoctrination into trading a Trump market was trading a bear market! I started trading during the 2018 bear correction when the market saw an initial flash crash that was pretty quick. It rallied back up to make another ATH and then did a longer bear correction where it actually corrected below the 500 day mean: As well, this was a mean reversion on the log linear scale: As a personal anecdote, I am still very much a permabear, despite always shilling long more or less in the current climate, and I feel like this permabear mentality arrived from the first market I traded being a bear market. From 2016 to 2020, the market had about 4 crashes, 1 bear market/correction and the rest was all bull market. No real difference from any other 4 year period. The only major difference during 2016 – 2020 period were the crashes were a bit shallower than other crashes traditionally, with the average being about 11% vs overall average being about 13% for SPY’s nascence. What this means going forward? We will likely see a few crashes and at least one bear correction in the coming years. However, perhaps the extent of the crashes and corrections will be muted, if, under the new presidency, USA is able to raise its GDP and boost economic production, which happened during the 2016 – 2020 term. What about the Statistics? Taking fundamentals and politics out of the equation and simply looking at what the market can tell us about itself, we can see some other interesting tidbits. Either before continuing or after reading, I suggest you check out a previous post I did about the outlook for the S&P based on historical behaviour, it turned out to be spot on: Let’s look at standardized returns on SPY: SPY’s current annual return is 0.27. We are not, by any stretch of the imagination, at historically high return levels. But, close.. ish. As you can see from the information in the chart above, the historically high return happened during the tech bubble and was 0.38, or 38%. SPY currently rests at 27%. If we take the average returns in general, no filtering for bearish or bullish years, we get 0.10 (rounded), or 10%. The average return of only bullish years is 18%. If SPY were to close at the average this year, we would see SPY retrace back to 557. The median is 19%, which would be a retrace to 561. Other Statistics applicable One thing that I have used a bit this year is a Monte Carlo simulation. Monte Carlo simulations take the normal distribution and randomly assign values from the normal distribution over x number of simulations. The simulation I have used consists of 200 simulations, using 2023 data, and plotting the average of the central tendencies: If we zoom in a bit closer, we can see where the simulations all agree of dips (red) and rallies (green): If we want to take the simulation in totality, it shows that SPY could, theoretically, see a high this year of 621 to 650: If you remember my earlier post, the annual ARIMA for SPY put the 80% confidence level at 591, and the 95% confidence level at 621. So 621 could indeed be a target observed into EOY. Probability and more probability! Let’s talk about probability for a second. To ascertain a more accurate assessment of probability, I am going to use data for SPX. Keep in mind, SPX and SPY track the same thing, so the returns will be identical. Because we are standardizing returns, they will also be the same value. Just to put your mind at ease, SPY’s approximate returns YTD are: 0.2634936. SPX’s are 0.2669222. The difference is statistically insignificant. So using SPX data, which we have since 1878 ish, let’s calculate the probability of closing at or above where we are now (>= 26%). The probability of SPX closing with 26% returns is 15%.The probability of SPX closing at 18% is around 26%. What this means is, we can’t say that it is likely that SPY will maintain these levels into EOY. Its not impossible, 15% probability is actually pretty big, a bit bigger than I expected. But the odds favour more a more reasonable close in the 18% area. If we want to take it a step further, and calculate what is the probability that SPX/SPY closes on a High. The probability that SPX will close on a high is 16%. Again, I am a little shook by this high percent! But obviously its not as likely as if it were to be 50% or 80%. Forecasts Don’t worry, we are nearing the end of this post. If you are reading to this point, thanks! I appreciate your interest in my random tangents of applying stats to markets! I want to briefly touch on Forecasts and outlooks. The market is naturally bullish. The U.S. has a new president that tends to have an emphasis on a strong economy. What is the most likely forecast? This is a complex question. I can accomplish a general forecast through using algorithms, but it doesn’t really take into account the economic influence that may be at play if we do see a strong economy into 2025. Remember I indicated that during 2016 – 2020, we did have crashes and bear market corrections, but they were shallower than average, likely mitigated by the strong economic policy during that presidency. Using a basic, machine learning algorithm to forecast the end result. So what I am going to do is use SPX again, because again more history, and run a forecast based on this period here: And I am forecasting it over the next 252 days, or 1 trading year from Friday (November 8th, 2024). The result actually puts us back into 2022, with this being the scaled plot of the forecast: And lastly, Targets! So, let’s quickly talk targets. Remember, our ARIMA 95% level on the year is 621. That means, 95% of closes should fall below 621. In addition, we also have a high probability modelled target at 564. This is hit > 85% of the time. And lastly, based on a seasonality assessment, our most similar year is 2021. This puts our scaled annual high at approximately 601. The targets we should absolutely see into EOY are: 564 and 601. The sequence of events remain up for debate. Conclusion: So, this is a long post, let me just give you the cliff notes of what to take away from it: Cap on the year should be 621. Retracement target should be around 564. High of the year should be around 601. There is about a 15% chance we close the year at this position or higher. There is about a 26% chance we close below this level but at or above 557. Overall assessment reveals a possible correction/crash. Its unlikely we see much lower than 564, even getting to 564 seems rather impossible at this point, but crashes come swift and unexpected I will be honest, I am not sure we see too much downside before EOY. The market is on a cocaine fueled rocket that shows no signs of slowing. I “feel” that its just going to go up until there is a reality check into the following year. But this is not based on the objective data, just my own “feelings” which are not all that reliable, haha. That’s it everyone! Thanks for reading, safe trades and happy rest of the trading year!
AMEX:SPY
by Steversteves
7
Hey SPYLOVERS ! Enjoy the Bull Ride !!!! Election Week and Interest Rate Cuts Did Not Disappoint Us at All The truth is, it was a very difficult week to predict price movements. However, out of the two possible scenarios I shared last week, Scenario #1 was the winner, and it was the one I had the most confidence in! At this moment, the price is in "no man's land," meaning there is no historical price data on the chart where we can find a level for the price to hold or replicate its movement. In this case, I believe that, from here on, the price will move based on upcoming economic news or as we approach the date when President-elect Donald Trump will officially become the President of the United States (POTUS). Let's enjoy this bull run that is happening—these are important times for the country, and we need to take advantage of those swings! Best regards, and thank you for supporting my analysis. See you next week!
AMEX:SPYLong
by RocketMike111
S&P 500 Market Update + Trade Idea and process AMEX:SPY S&P 500 Review I would like to start off by saying my previous post from October 24 outlined this correction almost to the exact T. From $585 to 565. That is a 20 point move. I say this not in arrogance or self conceit but to provide context. Combining Corrective waves Zig zag / irregular flat/ zig zag (missing) I believe we are still in a corrective phase in the market. For Ew followers I believe this would be called an irregular correction. it is a complex correction. I recently learned of this pattern from other great ew traders. Starting with a zig zag correction ( A B C) \/\ down up down - picture a ball bouncing from a higher structure and gradually bouncing lower. Then it rotates into second structure this one similar to the first but more momentous down up down. If I am not mistaken we are near ending the second leg ⬆️ up. that means we should be rotating ⬇️ down next. If I had to provide a Price target for the full last leg I would say back to 565 or lower. Now this could be completely invalidated there has been so much volatile price swings, however the more you know the better you can prepare. (Now the fun part) One thing I find difficult about trading is all the information out there. So many theories and data but yet it has no benefit to me if I cannot make a decision. As a new trader I would say a great chunk of the information out there does not lead to decision making. Trade framework💡 Let’s walk through a trade plan from start to finish. Assuming everything is correct where price goes in the short term is irrelevant. If it goes to $700 in a day doesn’t matter. A) I would be looking for reversals. 1. Using candle stick patterns ie. bearish Engulfing or evening star patterns. 2. triangle patterns ie rising wedge. 3. Double Top (huge reversal at a set level) entry on second reversal / entry on third confirmation candle. Stop loss slightly above first candle level. 4 Head and shoulders pattern That is it! B) I am targeting the areas of resistance. Questions to ask yourself. 1. What are some areas price gapped up from but never revisited. (Mark out the gaps). Trading into those zones. 2. What were some major resistance level before and has it been retested as support? Mark out strongest levels. 3. Where would buyers lose confidence. This is contrarian trading. Trading against the popular view. If I was a buyer & price reversed on me where would I sell? These are the area you should be looking for major moves your area of opportunity. (Tight stop loss). Stop loss should be tight. Re-entry is ok. Suffer 1000 tiny cuts vs a guillotine. 1. If price breaks above 600 & then fails I would be looking to open a short position targeting the 586 level. Multiple positions ie. open 4 positions Sell one before $593. 2 at 586. Hold unto final position - to see if price falls further. Sell for profit if prices bounces hard. Look for re-entry. #spy #500 #index Will create a video to go over my chart. NFA! Do what’s best for you.
AMEX:SPYShort
by coilemard
4
$SPY November 9, 2024AMEX:SPY November 9, 2024 60 Minutes. Run-away gap in action. Hence very strong uptrend. Got weakened on Friday. As we can see we had 2 lows. 568.44 and 567.89. Oscillator divergence. Hence if we draw extension now, we have first target 607 levels. The consolidation I need is not happening. Moving averages setting up nicely. In order. 9,21,50,100 and200 in that order. It will be a good opportunity to buy around 588-592 levels. for the next uptrend. As we can see in 60 minutes 580 is very strong support. 15 Minutes. For the last rise 593.92 to 599.64 holding 596 is important. If 596 is broken, we can probably see 592 as target. I need a pull back for a buy. Again, not a chart to short except for 3-4$ maximum. As of now. in 15 minutes, big oscillator divergence.
AMEX:SPYShort
by RiderTrader
2
SPY A Fall Expected! SELL! My dear friends, Please, find my technical outlook for SPY below: The price is coiling around a solid key level - 598.24 Bias - Bearish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 583.97 Safe Stop Loss - 606.52 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
AMEX:SPYShort
by AnabelSignals
2
How to PREDICT MARKETS! Tops and BottomsIn this video, I go over the following in great detail: Predicting Markets with Williams %R, RSI, and MACD Predicting market movements can be challenging, but combining the Williams %R, Relative Strength Index (RSI), and Moving Average Convergence/Divergence (MACD) indicators can provide powerful insights for traders. Williams %R measures the current closing price relative to the high-low range over a specific period, helping identify overbought or oversold conditions. RSI gauges the speed and change of price movements, also indicating overbought or oversold levels. MACD analyzes the relationship between two moving averages of a security's price, identifying potential buy or sell signals. By using these three indicators together, traders can: Confirm Trends: When all three indicators align, it strengthens the signal for a potential trend continuation or reversal. Identify Entry and Exit Points: Overbought or oversold signals from these indicators can help pinpoint optimal entry and exit points. Reduce False Signals: Combining multiple indicators can help filter out false signals, increasing the reliability of predictions.
AMEX:SPYEducation
by RonnieV29
4
SUPER STOCKS 2023 notes & issues for POSiTiONiNG there are stocks driven by MARKET .. meaning float is out in the public that normally has a DRUNK price action with gaps and erratic volume there are issues with an assigned Specialist that can TRADE or CROSS huge volume without moving the price or go beyond a range RANGE highlighted ones have been decided by both the MARKET and the MARKET MAKER best of both worlds where artificial price meets the wisdom of PUBLiC Vanguard holds most or is the CUSTODY of most issues Citadel & the gang of 3 manages the FLOAT FUNDS are public PUBLIC is barometer for entry or exit of Sovereign and Trust Fund babies on a 3 5 7 10 year cycle determined by the FED's cost of printing borrowinng and lending note: Market Cap is dated June 22, 2022 ... Bottom are of MARKETS
AMEX:SPY
by senyor
11