Spy Trade UpdateWe have been trading in a ascending wedge for the pass week. 586.12 has been a strong area to break. we are also loosing buying power with in this pattern. The pattern is a daily and 4 hour trend that has strong respect.
SPY trade ideas
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.
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SPY Just a follow up on SPY TA .We have been trading in a ascending wedge for the pass week. 586.12 has been a strong area to break. we are also loosing buying power with in this pattern. The pattern is a daily and 4 hour trend that has strong respect.
SPY/QQQ Plan Your Trade For 10-31 : Consolidation PatternToday's video highlights the power and simplicity of what I attempt to do for all of you.
I'm not perfect. I don't see into the future using some magic crystal ball.
I use my tools and skills to watch the markets and apply my knowledge to the charts to identify the most likely future outcome.
My SPY Cycle pattern predictions seem perfect, showing a top setting up between Oct 29-31, then rolling into a reasonably sharp market decline.
Yesterday's Excess Phase Peak pattern in Silver seemed to lead to weakness in the markets while the SPY was attempting to break through the Flag Apex pattern.
Combined, this cross-market weakness has translated into a very strong overnight selling event where the SPY is already off more than 0.50% and Gold/Silver are struggling near recent highs.
I hope viewers are learning from watching my charts and research. I try to explain things as clearly as I can and show you how to apply these techniques on your own.
As I state in this video, you can build better skills. You can improve your abilities to attempt to see into the future (a bit) and learn to apply better trading abilities. You don't have to be tied to failed techniques and indicators the rest of your life.
It just takes some patience and a lot of learning.
Anyway, I hope you see how my effort are helping you and I will continue to do my best to educate you and help you stay ahead of these market trends.
Get some...
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SELL OFF COMING?The election rally could cause a sell off here, volume suggest there is a sell trigger that could happen however we have a bullish momentum going on. look for shorts around $593
ETF SPY weekly (log)Hello everyone,
Weekly chart in logarithmic scale.
The channel is bullish, we are in the upper part of the channel, but I do not see any bullish exaggeration.
The 200-period simple average is bullish in orange on the screen.
In any case, investing in the SPY is a very good investment.
Make your own opinion, before placing an order.
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$SPY TomorrowAMEX:SPY looking bearish for tomorrow. With the sell off after MSFT and META earnings, markets might bias to the downside tomorrow.
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.
Double Bull Flags on an Ascending Triangle breakout on the dailyDaily, double Bull Flag, on top of an Ascending Triangle Breakout. Golden Pocket on the Fib Ext is $588 🥂
$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.
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.
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SPY - Gann and Fibonacci SPY is sincerely following Gann and Fibonacci Tool towards Nov 29th.
Let's see if it push to the red zone or break below of it, wait and watch.
Ascending ChannelBased on the chart, the current trend appears bullish but shows signs of potential consolidation or hesitation near the upper resistance. Here are key observations:
Upward Channel: The price is moving within an ascending channel, generally a bullish signal, as it reflects a series of higher highs and higher lows.
Consolidation Near Resistance: The price action near the top of the channel suggests consolidation. This could indicate a bullish continuation if it breaks above resistance, but if it fails to do so, there could be a bearish reversal down to the support trendline.
Election Date Impact: The November 5th marker might act as a catalyst. If uncertainty or risk increases around the election, we might see more volatility, potentially breaking out of this channel.
For now, the trend remains bullish within the channel, but keep an eye on resistance and how the price behaves as it approaches that key date. A breakout would be bullish, while a reversal could signal a short-term bearish move.
Framing of my routine on 5min 15min drawings of 10/30/2024Using Today chart as example. We see pullback test at 5min ORB high.
showing respect to prev breakout price!
good news for bulls!
and 5min also held the (S),
by rejection of closing back above (S) on the 2nd candle.
showing us a fakeout, tricked some impatient bears.wasted BP. sad.
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.
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$SPY October 30, 2024AMEX:SPY October 30, 2024
15 Minutes.
Shorts closed at open gap down.
So, 578 579 managed to hold.
Nowe this box needs to get sorted out.
Sideways till then
For the day The rise 578.43 to 582.91 580 needs to hold for uptrend to continue.
On downside if 578 is broken and close of bar near low 575-576 is the low I see. So not worth shorting. At the moment.
Long is still above 585 for me.
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.
Spy idea Massive Macd divergence . I think tomorrow it gaps up but will quickly vanish . I expect 575 then 566 targets in November . We will see if this structure fails and spy goes up but even if it does as high as588 it will fall back down to support . That’s what I think bought a put option today at close for end of November
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!
SPY Topping: Circle Theory?Been trying circular "TA" on a few different stocks, and trying out this pattern I started using and seeing results from w/ GME.
Seen here using GME:
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!
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.
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SPY WAVE 4 low is in place wave 5 target 593I have now moved to 75 % long dec 565 calls target for wave 5 min 592.5 and as high as 600 see chart as we just hit target in the 10 yr to the tick we are at the trend line and put/call is very high a good long here best of trades WAVETIMER
