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$SPY November 1, 2024AMEX:SPY November 1, 2024 15 Minutes. Gap down did not allow to initiate any short which were closed earlier around 579 levels. 575 supports did not hold and AMEX:SPY continued to make lows. For the large rise 539.95 to 586.12 4SPY retraced to 38.2 % levels and also 50-day average in daily. If this is not supported, we can expect 558-=562 levels which is 100 averages. If we see the daily chart 565 is important to hold. If this is broken, we have a history where AMEX:SPY went back to 539-540 levels twice from that number. No trade day today. How ever for the fall 583.32 to 568.44 a retracement to 578 levels will give a chance to short. Depending on moving averages. At the moment SL is 580 being 200 averages in 15 minutes. We are having an oscillator divergence at lows near close. So, i expect a retracement.
AMEX:SPY
by RiderTrader
3
SPY Technical Analysis for Nov. 1, 2024Resistance Levels: $578.35: Immediate overhead resistance where recent selling pressure has been observed. This level could act as a barrier, especially in the early trading session. $583.29 to $584.50: Stronger resistance range. If SPY pushes above this, it could signal potential for further upside, but watch for rejection around this range if volume decreases. Support Levels: $569.40: Immediate support where buyers may step in. This level aligns with recent price action, showing buying interest. $568.44: Lower support level that has seen demand in the past. A breakdown here could lead to more downside pressure. Price Action and Trend: The chart shows a recent downtrend with a slight rebound today. If momentum carries into tomorrow, we may see a test of the $578.35 resistance. The MACD indicator shows a potential shift in momentum, suggesting a possible short-term recovery if it crosses upward. Entry/Exit Suggestions: Bullish Entry: Consider entering above $578.35 with volume confirmation. Target the $583.29 to $584.50 resistance zone for a short-term exit. Place a stop below $578.35 to manage risk. Bearish Entry: If SPY fails to break above $578.35 and shows weakness, consider a short entry with a target around $569.40. Stop loss should be set just above $578.35 to limit losses. Volume Analysis: Volume on this pullback suggests a strong interest level around current support zones. An increase in volume at resistance or support could indicate strength in the next price direction. "Disclaimer: This analysis is for informational purposes only and is not financial advice. Please conduct your own research and consider your risk tolerance before making any trading decisions."
AMEX:SPY
by BullBear-Insights
$SPY tough spot right now, but there's still a glimmer of hope!On the daily chart, there are three bearish signals without even considering indicators: 1. Price is below the EMAs. 2. With a gap down. 3. From a coil spring. On the weekly chart, the trend remains intact. However, if we drop below the fast EMA, a significant test will be the slow EMA. The key level to watch is the low of the daily channel line at $554, which aligns with the weekly slow EMA at approximately $551. For me, that represents the definitive line in the sand for SPY.
AMEX:SPY
by WavesInvesting
SPY/QQQ Plan Your Trade Update For 10-31: Halloween BreakdownThis short video discusses why traders need to prepare for a downward move and the eventual move into Phase #3 of the Excess Phase Peak pattern (consolidation). I believe this consolidation phase will be very short-lived. So be aware of the continued risks to the downside. This election has many traders concerned about pre-/post-market jitters. Bonds continue to put pressure on the debt markets, and Gold and silver are not contracting downward (as I suggested), reflecting a real panic-type trending mode. Spend a bit of time watching my past videos. It is very impressive that you called this move 3+ weeks in advance, and I continue to believe we will see a base/bottom setup just after the election. So, there is still a boatload of opportunities for skilled traders. Buckle up - this move downward is likely to be very volatile. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPY
by BradMatheny
6
SPY/QQQ Plan Your Trade EOD Update For 10-30: ConsolidationWhat an interesting day regarding how the markets reacted to the Flags and APEX setups. My update video was perfect as we saw the market break away from the Flag Apex and trend downward almost all afternoon. With BTCUSD moving into a Flagging formation within a potential Excess Phase Peak pattern near $72, things are about to get interesting. Either we see the breakdown of support in the markets over the next 4-5+ days or we see support hold and the markets rally a bit higher going into the long weekend. It's an either A or B type of scenario right now. I estimate fear and uncertainty drive the markets about 3.5 to 5.5% lower before the election. Buckle up and prepare for real market volatility. By tomorrow's end, make sure you are protected from risk. Beyond that, at this point, it is a wait-and-see type of situation. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
3
SPY 600+?According to Elliot Wave Theory, Chart Patterns, and Analysis of the option chains, SPY could potentially reach 600+ before long. Looking at Elliot Wave Theory: Currently price is in Wave #4. In EW, Wave #4 characteristics are opposite of Wave #2. Wave #2 in this cycle was short, so expect price to take a little longer to breakout, which brings us to the next observation: Chart Patterns: Price is starting to form an expanding descending wedge (or megaphone), a variation of a flag. Generally in these formations, price is volatile and the formation can hold in tact for a decent length of time. That being said, it’s the perfect scenario for a long Wave #4. When price touches the bottom trendline for the third time, look to go long a month out. Option Chain: January Contracts - neutral. November Contracts - bearish (just a hedge for tech earnings) In the options chain, a neutral or balanced chain means the market is bullish. When an inordinate amount of puts are bought, it generally means institutions are hedging their portfolios when markets turn volatile. (Earnings will definitely do that) Recap: Looking to go long once this formation breaks upwards for the afore mentioned reasons. If something changes, I’ll update this. (We can’t be married to our opinions) Ride Wave #5 with me.
AMEX:SPYLong
by DIVERMAN_L
2
$SPY October 31 2024AMEX:SPY October 31, 2024 15 Minutes. Still within the box. For the fall 586.12 to 574.41 4SPY retraced 78%. So double bottom is what Hence, expect. For the fall 583.32 to 576.36 582 is the level to short for 578-579. If this is broken, we can expect 576 levels which is 200 averages in one hour time frame. The issue we have at the moment in one hour is AMEX:SPY made LL at 580.38 and 574.41. But no divergence in oscillator. Hence, I don't see much downside. At the moment. Go long above 585 and short cover at 579 578 levels. Maximum downside as mentioned is 576 levels as of now.
AMEX:SPY
by RiderTrader
2
SPY/QQQ Plan Your Trade For 10-30 : GapUp-Higher PatternToday's pattern suggests the markets will attempt to GAP higher at the open, then continue to trend upward throughout the day. I go into great detail in this video trying to highlight the setups and constructs of price for my followers. We are moving into a very volatile period for the markets with what I believe will be a low liquidity event taking place throughout the election. My thoughts are that liquidity will dry up later this week and early next week before the election day (we also have a Holiday on Monday). So, if my analysis is correct, we are going to be looking for the US and global markets to clearly illustrate extreme anticipation/fear related to who the US will elect. That should translate into extreme potential market volatility. I urge traders to watch this video (and some of my more recent videos). Now is the time to prepare for this extreme market volatility and to learn to PULL AWAY from risks. There is no reason to be trading like normal throughout this event. By late today or late tomorrow, you should really ask yourself "how much are you willing to risk throughout the election event and long weekend". Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYLong
by BradMatheny
2
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
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
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
1