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SPY trade ideas

SPY Analysis: Strategic Playbook for Scalping and Swing for 12/3SPY continues to showcase strength as it nears key resistance zones. This comprehensive analysis outlines critical price action, support/resistance levels, and actionable trading strategies for both scalping and swing trading. Technical Analysis and Price Action 1. Trend Overview:
SPY maintains a strong bullish trend, breaking out of a consolidation phase. Price action aligns with higher highs and higher lows, confirming bullish sentiment. 2. Key Support & Resistance Zones: * Support Levels: * Primary: $603.60 (current breakout level). * Secondary: $600.89 (short-term support). * Resistance Levels: * Immediate: $604.32 (daily high). * Strong Resistance: $606.00 (psychological barrier). 3. Liquidity Zones and Order Blocks: * Buyers are concentrated around $600.89, indicating strong demand. * Sellers dominate near $604.32, hinting at potential profit-taking zones. Game Plan and Playbook Scalping Strategy * Entry: * Long: Above $604.32 with confirmation of strong volume. * Short: Below $603.60 if bearish pressure increases. * Targets: * Long Target: $606.00. * Short Target: $602.00. * Stop Loss: * Long: $603.20 (below breakout level). * Short: $604.00 (above breakdown level). Swing Trading Strategy * Bullish Setup: * Entry: Retest of $600.89 with bullish candlestick confirmation. * Target 1: $606.00. * Target 2: $610.00 (extension target). * Stop Loss: $599.00. * Bearish Setup: * Entry: Breakdown below $600.89 with increasing volume. * Target 1: $597.29 (key support zone). * Target 2: $595.00. * Stop Loss: $601.50. Projection: Where SPY Could Head Next SPY is expected to test the $606.00 level if it sustains above $604.32. Failure to hold $603.60 could lead to a pullback toward $600.89 or lower. Volume will play a critical role in determining the direction. Key Indicators to Watch * MACD: Remains bullish, supporting upward momentum. * RSI: Near overbought territory, suggesting caution at higher levels. * Volume: Monitor for confirmation of breakout or breakdown. My Thoughts and Suggestions SPY’s bullish momentum is promising for intraday and swing trades. Scalpers should remain cautious near resistance levels, while swing traders can look for pullbacks to key support zones for entries. Patience and discipline will be crucial to avoid false breakouts. Conclusion SPY presents strong opportunities for traders with clear levels to monitor. Sticking to the game plan and managing risk effectively can lead to profitable trades. Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and manage risk appropriately.
AMEX:SPY
by BullBearInsights
Opening (IRA): SPY Dec 20th 505 Covered Call... for a 501.71 debit. Comments: Re-upping at a higher strike than the one I just took off, looking to capture an additional little increment of upmove that I missed out on. If you wanted to be really anal about it, you could capture all of the up move over time (or capture the same increment more than once). For example, say I just took off the November 15th 500 covered call at or near max (e.g., 499.80). I can then shop for a monied covered call to capture the next increment of movement from 499.80 up, so I'd want to get into a setup for 499.80 or less. This would be the Jan 31st 506 covered call, currently trading for 499.72 and would ostensibly capture the move from 499.72 to 506 (assuming, naturally, a finish above 506). In the next iteration, I would look to capture the move from 506 up, and so on, all the way until my short call was at-the-money or out-of-the-money, depending on what I was trying to do with the setup.
AMEX:SPYLong
by NaughtyPines
Top 5 Weekly Trade Ideas #5 - SPY Trendline TestYet another new ATH for SPY today. Still flat on the session. It's been some pretty brutal chop for the last few hours. It remains to be seen if SPY will be able to break above this trendline or not. If it can, I'll be looking for dips and retests for longs. Otherwise, downside target is $600 and then $596 if it keeps going. Hard to pick an upside target with blue skies like this so will be looking to take profits when I get them. Getting a long near $600 seems ideal.
AMEX:SPYLong
by AdvancedPlays
SPY on the Verge: Scalping and Swing Strategies for Dec 2SPY has been showing a strong recovery trend, climbing steadily within a well-defined ascending channel on the hourly chart. This analysis aims to provide actionable insights for scalpers and swing traders, focusing on critical levels, potential liquidity zones, and price action patterns to watch for the week ahead. Technical Analysis Overview: * Trend: The SPY is currently trading within an ascending channel, indicating bullish momentum with potential pullbacks. * Support Levels: * Immediate support at $601.33, aligned with the EMA and a key pivot zone. * Stronger support at $597.29, marking the lower boundary of the channel. * Resistance Levels: * Immediate resistance at $603.35, a key liquidity zone. * Next major resistance at $606, near the top of the channel. * Liquidity Zones: * Watch for liquidity absorption between $602.70–$603.35 as this is a high-traffic area for short-term traders. * A break above $603.35 could trigger momentum buying toward $606. * Indicators: * MACD is showing bullish crossover momentum. * Volume is steady but needs an uptick for confirmation on breakouts. Game Plan for Scalpers: 1. Entry: * Look for long entries near $601.33, targeting $603.35 with tight stop-loss at $600.50. * A breakout above $603.35 provides a scalp opportunity up to $606. 2. Exit: * Close partial positions at resistance zones for safety and trail stop-loss. Game Plan for Swing Traders: 1. Bullish Scenario: * Enter on pullbacks to $597–$598 if the level holds with strong buying pressure. * Target $606, with a stop-loss below $596. 2. Bearish Scenario: * If SPY breaks below $597, consider shorting toward $593 as the next support level. * Stop-loss for short trades above $599.50. My Thoughts:
The SPY’s momentum suggests a bullish bias, but the upper channel boundary near $606 could act as resistance in the short term. For scalpers, it’s all about quick reactions around the pivot zones, while swing traders need to watch for pullbacks to confirm support levels. Overall, patience and volume confirmation are key to avoiding false breakouts. Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Always perform your own due diligence and trade responsibly.
AMEX:SPY
by BullBearInsights
SPY/QQQ Plan Your Trade For 12-2: Tmp Bottom PatternToday's pattern suggests the SPY will attempt to move a bit higher after finding support in early trading. The one BIG event over the past 5+ trading days is the SPY rallying above the Ultimate High level - breaking into a confirmed Bullish price trend. This is part of what I'm trying to teach you: the patterns, techniques, thinking, and logic behind my decisions are based on mechanical price structures/processes. Once you understand the structures and price patterns, it is simple to try to understand. Fibonacci Price Theory teaches you to follow price as the ultimate indicator - measuring and marking ultimate, unique, and standout highs/lows as trigger points. AnchorBar theory teaches us to watch for breakaway or breakdown bars as precise indications of price trend direction/momentum. The Excess Phase Peak patterns represent a more nuanced price pattern that can assist us in determining the current "phase" of the markets and how we can expect prices to react to that phase. If you understand these three concepts, I believe you, as a trader, can unlock any price action and determine what type of trend we are currently in for any symbol/interval and where your opportunity lies for potential trades. I will continue to delve further into trading and teaching techniques to reinforce these techniques in the future. Stay cautious as the markets are still struggling to find a post-election trend. The Anomaly Event is still likely, but the probability of such an event has fallen to about 30-40% overall. 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: Weekly Recap and OutlookLast week, the market opened with a gap up that was quickly filled, after which price hovered near the previous all-time high. Bolstered by new economic data, which delivered no negative surprises, bulls pushed the price out of the trading range, establishing a new all-time high. While this is undoubtedly a positive development that reinforces the bullish thesis, a few warning signs warrant closer attention: 1. Low Breakout Volume: The breakout occurred on significantly low volume. While volume is less critical in indices and ETFs compared to individual stocks, observing below-average volume during such an important event raises concerns about the breakout’s sustainability. 2. Relative Weakness in the Tech Sector (XLK): This deviation signals hesitancy among growth investors, which could potentially ripple through to other market participants. Additionally, concerns highlighted in my previous review remain unresolved and continue to be relevant. At this stage, there is no concrete evidence of a sentiment shift or technical signals pointing to a broad trend reversal. However, there is a growing impression that the rally may be nearing temporary exhaustion, which could lead to a significant pullback. Key Focus for the Upcoming Week Investors will be closely watching the employment data, which has already hinted at labor market weakness. If new data further support this trend, it could heighten bearish sentiment. Price action this week will likely provide important clues: • Bullish Confirmation: If the breakout is followed by a swift continuation, this will confirm buyers’ conviction and overall market strength. • Bearish Signals: Conversely, if the price pulls back below 600 or oscillates indecisively around this level, it may signal uncertainty among buyers, creating an opportunity for short sellers to capitalize.
AMEX:SPY
by hermes_trisme
Aiming for SPY: Targeting Continued Upside Next Week- Recent Performance: The SPDR S&P 500 (SPY) has demonstrated impressive performance lately, achieving multiple all-time highs and closing above critical levels. Currently priced at $602.55, SPY remains significantly positioned above major moving averages, reflecting strong bullish momentum and resilience despite market fluctuations. The index recently held above the support level of $601, reinforcing positive market sentiment across the board. - Key Insights: Traders should approach SPY with a bullish bias in the near-term outlook. The strength in macroeconomic indicators and strong earnings from major corporations suggests potential for continued gains. Monitoring key support and resistance levels will be critical for determining potential entry points and assessing risk as the market evolves. - Expert Analysis: Analysts project that SPY's bullish trend is likely to persist, supported by prevailing investor confidence and encouraging economic signals. A consensus among experts recommends vigilance around key price levels, enabling traders to capitalize on upward movements while managing risks effectively. Market sentiment remains robust, bolstered by positive narratives surrounding recovery and growth in various sectors. - Price Targets: - Next week targets: - T1: $605.00 - T2: $610.48 - Stop levels: - S1: $601.00 - S2: $594.62 - News Impact: The ongoing positive sentiment for SPY can be attributed to recent macroeconomic reports and favorable earnings from leading companies, particularly in the tech sector. As SPY continues on its upward trajectory, market events and external factors will play a pivotal role in shaping trading strategies. Investors should remain informed about economic updates and corporate performance that can influence price dynamics in the near future.
AMEX:SPYLong
by CrowdWisdomTrading
$SPY December 2, 2024AMEX:SPY December 2, 2024 15 Minutes. AMEX:SPY is tired. 603 targets achieved. But no strength. The move from low 595.20 to 603.35 is not smooth. Soe the last rise fro, 587.43 to 603.35 $ SPY need to hold 598 levels being 38.2% retracement. For the last rise 597.28 to603.35 599 must hold. I expect AMEX:SPY to be 598.5 to 603 levels today and tomorrow so the moving averages can up as 200 moving average is around 596 levels. Holding 598-599 my first target is 605 levels.
AMEX:SPY
by RiderTrader
1
#TheStrat Weekly/Monthly Setups For DecemberSPY - Closed previous D/W/M close to HOD after making new ATH, so the D/W/M all finished bright green. No evidence of sellers anywhere since every TF above the 60 is currently green. 60 closed slight green, but this can easily be justified as eod corrective activity since all 60 min candles before the last one of the day were green, and every TF above the 60 is green. Going into the new week and month, we can expect buying to continue until we see a lower low on the D, but the real sign of buyers vanishing / sellers gaining control for me will be a Lower Low on the weekly. Main Monthly Setups To Watch: Bullish : DKNG - 1-2-2 Q revstrat in force, 1-3 M, 2-1 W PM - Hammer 3-1 M BA - Counter Hammer Failed 2D M MRK - Hammer M at Downside Exhaustion Level Bearish: MU - Shooter 1-3 M, Failed 2U W ZIM - Rev Strat M at Upside Exhaustion Main Weekly Setups To Watch: Bullish: RTX - 3-1-1 W PLTR - MoMo Hammer W, Inside D GOOG - RevStrat Hammer D, Inside W Bearish: GAP - 3-1 at Exhaustion COIN - 2-1 W, Failed 2U D PINS - Shooter RevStrat Week, Shooter Inside D RDDT - Inside W (11 Consecutive Weekly HLs) SQ - Red Inside D/W at Q Exhaustion
AMEX:SPY
by Alanger17
SPY due for a pullback -- EV3 and Treverse phenom on 8h The SPY is due for a pullback. It’s been overextended after a strong rally, with key indicators like RSI showing overbought conditions. Currently in a W5 leg, we're waiting on EV3 or Treverse to fire, as these RevAlerts indicators have shown an excellent track record, as seen on the 8h chart. Additionally, economic uncertainty, rising bond yields, and/or upcoming Fed decisions could trigger profit-taking. Traders know markets rarely move in a straight line, and healthy pullbacks often follow extended runs. Let's see what the week brings!
AMEX:SPYShort
by JC7USA
1
$SPY Why We Will Continue Down / Bear Market Not FinishedWhat is Federal Funds Rate? The federal funds rate is the interest rate at which banks and other depository institutions lend money to each other overnight on an uncollateralized basis. It is the interest rate at which banks can borrow or lend money in the federal funds market. The Federal Reserve uses the federal funds rate as a tool to implement monetary policy and control inflation. By raising or lowering the federal funds rate, the Federal Reserve can influence the overall level of interest rates in the economy, thereby impacting economic growth and inflation. How Does Federal Funds Rate Affect The Economy? The Federal Reserve's setting of the federal funds rate can have a significant impact on the overall economy. When the Federal Reserve raises the federal funds rate, it makes borrowing money more expensive for banks, which in turn makes borrowing more expensive for individuals and businesses. This can slow down economic growth by making it more difficult for companies to expand and for consumers to purchase big-ticket items like homes and cars. On the other hand, when the Federal Reserve lowers the federal funds rate, it makes borrowing cheaper, which can stimulate economic growth by making it easier for businesses to expand and for consumers to purchase big-ticket items. Lowering the federal funds rate can also help to combat inflation by making it less expensive for businesses to borrow money, which can help to keep prices stable. The Federal Reserve's setting of the federal funds rate can also affect the stock market, currency exchange rate, and bond market. In summary, the Federal Reserve's setting of the federal funds rate can have a significant impact on the economy by affecting interest rates, inflation, and economic growth. What is the Projection of Federal Funds Rate In 2023? Due to Ukraine and COVID, this has led to a historic rise in interest rates. This means that borrowing costs are increased, saving becomes more attractive/less spending, and stock prices may decrease/bonds favored. Markets expect the U.S. Federal Reserve to raise rates again on February 1, 2023, likely by 0.25 percentage points to 4.5%-4.75%. However, there’s a reasonable chance the Fed opts for a larger 0.5 percentage point hike. Hope this helps.
AMEX:SPYShort
by Smarter_Trades
15
SPY The Target Is DOWN! SELL! My dear subscribers, My technical analysis for SPY is below: The price is coiling around a solid key level - 602.45 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 588.60 My Stop Loss - 609.83 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
AMEX:SPYShort
by AnabelSignals
10