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SPY trade ideas

08/06 SPY ATR Levels and RangeLooking for these ATR levels, volume, price action and technical confluence to make decisions. Seems like its a waiting on your hands kind of day, honestly I think once the Olympics is over and citizens return to their countries, something on a GEO scale may happen, thats my speck on this. Otherwise Harris to drop her VP choice, the debate is still on schedule, the tensions over seas is still building. The only report I see on the table is the 11:00 AM Total Household Debt Q2. Not sure how impactful that will be on things. My overall feeling is neutral at the moment. I like to see what the market does and reacts before making any type of move or decision. ATR on spay is 6.48, again, A larger number than the last 6 months of this year. I suspect and caluculate that due to the massive selloffs that have been taking place all over. SCALP SR2 521.67 SR1 520.83 SPOP 520.00 LAST PRICE 519.16 SBREAK 518.32 SS1 517.49 SS2 516.65 STANDARD R2 527.52 R1 524.30 POP 522.38 LAST PRICE 519.16 BREAK 515.98 S1 513.44 S2 511.75
AMEX:SPY
by TuskenDayTrade
There's A Setup For A BounceFor fun, no idea what I'm doing. Same as all the last times really, just see how it goes tomorrow morning, right now futures are up a bit and will open up a bit if it remains like this. Will still be kind of okay looking though, around lower BB. Depending on what happens tonight going into tomorrow it's setting up for a bounce as crazy as that looks and sounds. The bottom graph has a line that suggests oversold. In my mind it is set up if the line remains below the dotted line Aug 6. If it goes up above then maybe toss the idea. I literally only post when this is set up and the last time was last week! The time before that was Oct 30 23, and I posted the weekend before. Maybe down early in the first part of the day, then reverse up and hard for the next few days? From the low of Aug 6 - I usually say 5% chance of ~+10% by Aug 9 (top yellow circle) 40% chance of +5.5% by Aug 9 (lower yellow circle) 60% chance of +5.5% by Aug 20 (right yellow circle) Really really really don't think we will get +10% with how things are set up as that's ATHs, but just saying it does happen sometimes (not when it's like this though). More like if we get a bounce, it goes down again like this it'll be that time. Last week I wasn't very optimistic about it (and it didn't happen anyway). This time it's still pretty high, but QQQ is in sync with SPY which means both can go up together now which is a little something. Green eclipse is things going according to the idea, above is a bonus, below is a fail. If it does bounce, no idea how long it'll last. You might be asking 40%? 60%? so you're flipping a coin? could go up, could go down? Well it's 40-60% chance of +5.5%, nothing is guaranteed and that's why you have responsible stops in place.
AMEX:SPYLong
by ABirdOfParadise
15 Minutes.AMEX:SPY Aug 6, 2024 15 Minutes. AMEX:SPY managed to hold above 505 yesterday. We take 3 numbers The fall 554.86 to 510.28 The fall 533.17 to 510.28 The fall 523.58 to 514.9 For the first fall AMEX:SPY made lL but oscillator also LL. Hence sell on rise probably until 538 is crossed. For the second fall AMEX:SPY even with gap doen yesterday AMEX:SPY managed to retrace 61.8% arounf 523.5 levels. Hence 510 should provide a good support today. For the third set from 523.58 to 514.90 a retracement to 521 levels will give a change to short as it is also 50 averages. On upside if 524 is crossed and we get a good close being near top of bar then 530-532 should be a target to aim as it will be approximately 100 200 averages number. So, for the day i will go long above 524 and short 521 levels.
AMEX:SPY
by RiderTrader
$SPY #RisingWedge #BearFlag "That's Bidenomics! Puts!" #WarnedPretty clear flagpole + flag(rising wedge) = bearish technicals ALL OVER I think market is in for another shake up day like we've experienced the past 2 weeks... This rising wedge looks is present on most of the MAG7 at the moment... Warning Sent (Null and void if we continue up with strength and hold on the month 550+) No positions at the moment = waiting for market to confirm thesis... *Hearing Emergency rate cut if SP:SPX close below 5,350 on the month... Flagpoles leads/measure us right there = "decision spot" (Biden ClownWorld Upside-down USA) =) Proph
AMEX:SPYShort
by Prophecies_R_Us
15
SPY Stock Chart Fibonacci Analysis 080524Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 510/61.80% Chart time frame : C A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : C A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the Support D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
AMEX:SPY
by fibonacci6180
1
SPY breakout from consolidation - uptrend is not brokenSpy has now broken out of consolidation. I feel election year is gonna push this higher along with the economic downturn. Some will say economic downturn? How is that bullish. Its bullish because, the last thing America would want during an economic downturn is their stock market to collapse. They keep propping this up until the foreign money in the US market is at maximum levels. That when they'll dump. Once the foreign money is shaken out, they will resume uptrend. This is just my personal theory. Whichever way, the price action is bullish. Some will point at volume. Over the years, i have never found volume to be a reliable indicator.
AMEX:SPY
by Broketothebone
49
S&P weekly consolidation in progress; bears prove controlLast week was marked by hectic price action in both directions. Bulls failed to set a daily low for two consecutive days (Monday-Tuesday), which logically led to a strong bearish attack. Then something peculiar happened – the price pivoted near the previous low and went up during the overnight session. The market opened with a huge gap on Wednesday, held the open, and even managed to rally further in the regular session. I can only imagine how many short traders, who had done everything right, suffered from this. This price action also confused many long traders, including myself, by making us believe that the weekly consolidation was coming to an end. But Thursday turned the board 180 degrees again with a psychotic bearish move, wiping out more than 2% of the market value. Again, as with the bullish rally, there was no obvious trigger unless you believe that PMI data could wield such importance. At this point, we have the following disposition: 1. The market is still in a weekly uptrend. Until sellers take down the previous major low (491), nothing changes in this regard. 2. Bears have proved strong control over the weekly timeframe. We should respect this. 3. Bears were also able to start monthly consolidation, another sign of their strength. All in all, I wouldn’t consider any long-term “buys” until bulls manage to set a convincing weekly low, even then with caution. Shorting is an option but is very tricky in light of what happened last week. Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPYShort
by hermes_trisme