Long term SPY expansion funnelThe SPY seems to be reverting to the long term trend line from 1994 to 2000. By getting to this level all previous crises will be erased including dot com crash, GFC and Covid. At some point there will be a sell off.
SPY trade ideas
SPY: Weak Market & Bearish Forecast
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current SPY chart which, if analyzed properly, clearly points in the downward direction.
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bear flagerinoI think it's a bear flag. i am still of the opinion we are selling off with further declines in the very near future.
SPY/QQQ Plan Your Trade For 11-22: Tmp-Bottom PatternToday's Temp-Bottom pattern suggests the SPY/QQQ will attempt to move downward - trying to find support.
If this pattern plays out as I suspect, we'll see the SPY and QQQ move lower, with the SPY attempting to move to the 588-590 area and the QQQ attempting to move to the 499-500 area.
I still believe the current setup promotes a breakdown in price based on the current Flagging formation related to the broad Excess Phase Peak pattern.
Nothing tells me the markets are going to rally at this stage. Unless we get above the Peak levels of these patterns, the most logical outcome is a breakdown in price leading to a Phase #3 EPP consolidation low.
Gold and Silver are starting to make a very big recovery rally - just as I suggested weeks ago.
It is great to see this move in Gold - although Silver is lagging a bit. Silver will rally, but it will rally slower than Gold at this point.
There is a real chance Gold could be trading above $3000 before the end of 2024. Buckle up.
BTCUSD came within $1000 of my $100,500 target level overnight. WOW.
This last $1000 move higher should be reached today.
Once we get above $100,500 on BTCUSD, expect it to try to roll into a new pullback and setup a new EPP Flagging formation.
That is what price does, it is either TRENDING or FLAGGING.
Get some.
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$SPY November 22, 2024AMEX:SPY November 22, 2024
15 Minutes.
The gap up at open was managed will and 584 is still holding up good.
Now for the last rise 587.43 to 595.12 AMEX:SPY need to hold 590 today to continue uptrend in 15 minutes.
I will sell only when AMEX:SPY goes below 589 for 584-585 SL 590.5 for today.
The gap up made on 6th November is holding good and AMEX:SPY has taken multiple support last few days on top of gap. So far.
In 60 minutes 584-585 is a good support so far and is also 200 averages.
Having managed to attain 592-593 target, holding 590 i have a target 595 to 598 initially.
SPY Analysis: Rising Channel Sets the Stage for Scalp & SwingSPY is trading within a rising channel on the hourly chart, suggesting bullish momentum is building. After bouncing off the lower boundary of the channel near $584, it has steadily climbed, reclaiming key resistance levels at $590 and currently testing $591.50. Volume has picked up, and the MACD is crossing bullish, signaling potential continuation toward higher levels.
Key Technical Zones:
1. Liquidity Zone (Demand Area):
* The area around $584 - $582 has seen significant buy-side interest, making it a key demand zone.
* If the price pulls back, this zone may provide strong support for a bounce.
2. Order Block (Supply Zone):
* Watch for resistance at $594 - $595, which aligns with previous price rejections. This is a likely area for sellers to reenter.
3. Support Levels:
* S1: $588 (minor pullback area)
* S2: $584 (demand zone)
* S3: $581 (major breakdown level)
4. Resistance Levels:
* R1: $592.50 (current intraday resistance)
* R2: $594.50 (supply zone upper boundary)
* R3: $600 (psychological level)
Scalping Plan:
* Bullish Setup:
* If SPY breaks above $592.50 with increasing volume, scalp long toward $594.50.
* Entry: $592.60, Stop: $591.50, Target: $594.50.
* Watch for volume confirmation and momentum to sustain the breakout.
* Bearish Setup:
* If SPY rejects $594.50, consider a short scalp back to $592.
* Entry: $594.40, Stop: $595.50, Target: $592.
Swing Trade Plan:
* Bullish Swing:
* Long position if SPY holds above the midline of the rising channel near $590.
* Entry: $590.50, Stop: $587.50, Target: $600.
* Suggestion: Look for a daily close above $594 to add conviction.
* Bearish Swing:
* Short position if SPY breaks below the lower boundary of the channel ($584).
* Entry: $583.50, Stop: $586, Target: $578.
* Watch for weakness around major support zones for further downside.
Indicators to Watch:
* Volume: Sustained buying volume is critical to push above $592.50. A lack of follow-through could trigger a reversal.
* MACD: Bullish crossover currently supports upward momentum but monitor for potential divergence near key resistance.
* RSI: Approaching overbought territory; a pullback might be due if RSI crosses above 70.
Thoughts on Market Direction: SPY is showing strength in this channel, and as long as it holds above $590, the bias remains bullish. However, resistance at $594 - $595 could pose a significant challenge, and any rejection there might lead to a retest of $588 or lower. Scalpers should be nimble around these key levels, while swing traders can look for a breakout confirmation or a breakdown of the rising channel for directional plays.
Conclusion:
SPY is set up for a critical day, with clear support and resistance levels to guide both scalping and swing trading strategies. Stay flexible, manage your risk, and watch for volume confirmation to gauge the market's strength.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Trade at your own risk, and always use proper risk management strategies.
THE BEST TRADING SETUP I show how I have used fib retracements combined with fair value gaps to make a good hypothesis of where the price will reverse. I am up $50 on the day and $150 this week. Ignore the negative on my level 2 that's my paper trading account I have open to see level 2 lol. Hope this can help you guys out. This is my A+ setup!
SPY/QQQ Plan Your Trade For 11-21 : Harami Inside PatternToday's Pattern suggests the SPY will consolidate in a Harami-Inside day type of price action.
In today's video, I highlight the continued potential for a price Anomaly event, even though we are seeing mostly post-election bullish price activity.
I do believe the proposed Anomaly event is highly likely headed into the Thanksgiving & Christmas holiday season.
Gold and Silver may stall a bit before attempting to rally further. Silver is not reacting similar to Gold, thus I have concerns that metals may stall a bit before attempting a bigger move higher.
BTCUSD is on track to rally up to $100k - just as I predicted.
Get some today.
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Morning Overview: After A Strong Finish End Of DaySPY is looking strong as are other markets. I wasn't able to cover more of my watchlist because I just didn't have time yesterday to go through it. I did recap a couple of trades that I suggested yesterday.
$SPY November 21, 2024AMEX:SPY November 21, 2024
15 Minutes.
AMEX:SPY had a retracement. managed to hold the recent low at 583.86.
Now we have HL pattern.
584 becomes important now.
So if today we are able to hold 584 short term uptrend intact.
SPy has fir target 592 levels being 200 averages in 15 minutes as resistance.
At the AMEX:SPY is above all moving averages except 200.
Continuation On Tops Is In. Still short SPXL long SOXSOk guys all waiting on NVDA out that short
Lets see how far the head fake rally goes.
Expired SPY Weekly outlook. 3rd WK NOV 2024Expired SPY Weekly outlook. 3rd WK NOV 2024
> BULLISH 📈 HIT
Prior Week Closed Price: 585.75
This Week Target Price: 587
Strike Price: 590.30 on NOV 19, 2024
Upper Range: 600
Lower Range: 574
SPY Long IdeaWe sold off more than I expected today, but we're finally coming back into the $585 area which I have been waiting for since the post election rally. Looks like a great spot to pick up some longs with solid risk/reward. If it doesn't hold, could turn into a good short idea on the retest. For now I full expect a bounce here into the early parts of next week.
SPY/QQQ Plan Your Trade For 11-20 : Flat-Down PatternToday's Flat Down Pattern suggests the SPY & QQQ will trail downward a bit within the current #2 sideways flagging pattern. I believe this setup is indicative of a broader breakdown (Anomaly Event) playing out headed into Thanksgiving and into the end of the year.
Gold and Silver are also moving in an Inverted Excess Phase Peak pattern - struggling near a Phase #3 (sideways consolidation) range. This move will resolve to the upside if my research is correct, yet we could also see Gold and Silver move into a very large Phase #2 type of EPP phase (Flagging downward). This could setup a very large upward price rally in Gold and Silver over the next 60+ days.
BTCUSD is struggling to break to new highs. Although I see a confirmed bullish trend because of a recent new Higher High, I also see BTCUSD struggling to continue to make new highs right now.
Because of this, I see some potential for a breakdown if BTCUSD is unable to rally to new highs within the next 5 to 6+ hours.
Remember, price must always attempt to make new highs or new lows. Failure to make a new high means price must then attempt to make a new low. Failure to make a new low means price must then attempt to make a new high.
These are the RULES OF MARKET PRICE ACTIVITY. Once you learn to use/follow them, trading becomes a bit easier to understand.
Get some.
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Morning Overview: Capped Down and RecoveredNot too many short setups but, the ones I identified should move quickly is the major indices show any weakness. I would be carefully trading around geo political issues and make sure that at least some of your positions are hedged.
Have we really recovered?I remain unconvinced that the end isn't here. I do not think they will let the market continue to move up because *insert politics*. I know drawing channels can be arbitrary, but this particular channel shows me that we have no recovered and that we are instead just loading up the submarine for an even deeper dive. Just my two cents.
$SPY November 20, 2024AMEX:SPY November 20, 2024
15 Minutes.
AMEX:SPY had a gap down.
But did not break the recent low of 583.86 which I have taken as the starting point for current move.
It took support at 200 averages in 60 minutes and started to move up.
Noe for the move 583.86 to 589.49 to the fall 584.02 the first target is 592-593 levels as in box.
In 15 minutes, we have 9,21,50 and 100 averages consolidated.
So, for the rise 584.02 to 591.06 holding 586-587 levels, we target for 592-593 levels.
592-593 is important because it is also 61.8% retracement for the fall 599 to 584 levels.
It is also 20 averages in 15 minutes.
Hence, I expect a consolidation to happen between 591-593 levels today for a move tomorrow or Friday.
SPY's Recovery: Amid Trendline Break for Nov. 20, 2024SPY is displaying a solid recovery after a steep downtrend, breaking key trendlines and reclaiming critical levels. As it inches toward overhead resistance, SPY offers prime setups for scalping and swing trades. Here’s a structured trading plan to navigate its next moves.
Market Structure Overview
* Trendline Breakout: SPY has broken a descending trendline, indicating a potential shift in sentiment toward bullishness.
* Volume Analysis: Rising volume accompanies the breakout, signaling buyer interest at current levels.
* Current Price Action: Trading near $591.40, SPY is consolidating just below a significant resistance zone.
Liquidity Zones
* Demand Zone (Support): $578.00 - $581.00. Buyers have shown strong interest in this area during pullbacks.
* Supply Zone (Resistance): $593.00 - $595.00. Sellers may emerge here as it aligns with previous rejection levels.
Order Blocks
* Bullish Order Block: $578.00 - $580.00. Watch for buying interest if SPY retraces to this zone.
* Bearish Order Block: $593.00 - $595.00. This area could serve as a profit-taking zone or short-term resistance.
Key Levels
* Support Levels: $578.00, $581.00, $583.95.
* Resistance Levels: $593.00, $595.00, $600.97.
Technical Indicators
* 9 EMA & 21 EMA (Hourly): SPY is trading above these levels, confirming short-term bullish momentum.
* MACD (Hourly): Bullish crossover with increasing histogram bars, supporting further upward movement.
* RSI (Hourly): Near 65, suggesting room for additional upside but nearing overbought territory.
Scalping Plan
* Entry: Look for pullbacks to $589.00 - $590.00 for a quick scalp with confirmation from bullish candles.
* Exit: First target at $592.50, with an extended target at $594.00.
* Stop-Loss: Place a tight stop at $588.00 to minimize risk.
* Game Plan: Use high-volume breakouts or retests of minor supports as entry signals. Avoid overtrading near resistance levels.
Swing Trading Plan
* Entry: Accumulate near $578.00 - $581.00 for a medium-term swing trade.
* Exit: First target at $595.00, with extended targets at $600.00.
* Stop-Loss: Set below $576.00 to protect against further downside.
* Game Plan: Monitor for consolidation above $583.95 and use pullbacks for additional entries if momentum persists.
Projection
SPY is positioned to test $593.00 in the near term, with a breakout opening the door to $595.00 and eventually $600.00. Failure to hold $589.00 could see a retest of $581.00, offering a secondary entry point for longs.
My Thoughts
SPY’s breakout signals a bullish shift, making it an ideal candidate for both scalpers and swing traders. Scalping opportunities lie between $589.00 and $593.00, while swing traders can capitalize on pullbacks to the $581.00 demand zone. Stay disciplined, and let the price action guide your trades.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and consult with a financial professional before trading.
Bitcoin Breaks To New Highs - $100.5K Is The Likely TargetI created this short video to help traders understand how Fibonacci Price Theory works using BTCUSD.
This move suggests that BTCUSD will attempt to rally above $95k and target $100.5k in the next trending phase.
BTCUSD broke away from the Excess Phase peak Flagging formation (#2) very clearly today.
At this point, there is very little downside price risk unless price breaks below $86.8k.
I also review Gold/Silver and the SPY/QQQ to help traders prepare for the BIG SHIFT into my proposed Anomaly Event.
Here we go..
Get some.
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SPY WILL KEEP GROWING|LONG|
✅SPY is already making a
Bullish rebound from the
Horizontal support level
Of 586$ while trading in
An uptrend so we are bullish
Biased and we will be
Expecting a further move up
LONG🚀
✅Like and subscribe to never miss a new idea!✅
SPY: Charting the Path - Technical Analysis for Nov. 19, 2024Technical Analysis Overview: SPY (S&P 500 ETF) has been oscillating between critical support and resistance levels, with a potential breakout or breakdown brewing. Traders should prepare for significant moves as the price consolidates, providing scalping and swing trading opportunities.
Price Action Insights:
1. Trendline Analysis:
* A visible downtrend channel is guiding the price lower. However, recent consolidation around $587-$588 hints at a potential reversal or continuation.
2. Key Levels:
* Resistance: $591.50 — Breaking above this could trigger a bullish move toward $601.
* Support: $583.80 — A drop below this may lead to further downside toward $579-$578.
3. Supply and Demand Zones:
* Demand Zone: $578-$583 — Strong buying interest is likely around this area.
* Supply Zone: $590-$593 — Sellers are expected to defend this range aggressively.
4. Order Blocks:
* Watch for price reactions in the $583-$588 consolidation zone, as it could define the direction for the next move.
Indicator Analysis:
1. EMA Strategy:
* 9 EMA and 21 EMA: A bearish alignment remains, but the flattening EMAs indicate a potential pause in selling pressure.
2. MACD:
* The MACD line is attempting to cross above the signal line, signaling a potential bullish divergence.
Game Plan for Scalping:
1. Entry Points:
* Long: Above $588, targeting $591-$593.
* Short: Below $583, targeting $580-$578.
2. Exit Points:
* Focus on tight take-profit levels to secure gains within the defined ranges.
Game Plan for Swing Trading:
1. Bullish Scenario:
* Entry: Above $591.50 with confirmation of strength.
* Target 1: $601; Target 2: $605.
* Stop Loss: Below $587.
2. Bearish Scenario:
* Entry: Below $583 with strong selling momentum.
* Target 1: $578; Target 2: $573.
* Stop Loss: Above $588.
Thoughts and Suggestions: SPY is consolidating near crucial levels. Scalpers can trade within the defined range, while swing traders should wait for a confirmed breakout or breakdown before entering positions. Monitor volume and macroeconomic catalysts to refine your strategy.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research before trading.
SPY puts going to average into spy put today and tmr ($577 12/6) looking to profit off another not as good NVDA report and the same new month selloff we have had the last 4 months
Tops In Part 2 Short SPXL 181.50 NVDA 148.62 long SOXS 18.96This video will explain why we go lower and it wont be that simple
dropping they will test highs at some point, at the end day we go lower in time
