Bearish Break out on S&P 500 Looks like we broke out of the upward channel and until then we might be in a bearish momentum. unless we bounce back from this 566 support level.
S27 trade ideas
SP500 Bullish count 5935/6218 midpoint 6012 GET SHORT 5935The chart posted is the daily count The last gasp
SPY What Next? BUY!
My dear subscribers,
This is my opinion on the SPY next move:
The instrument tests an important psychological level 571.04
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 577.68
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
SPY 24hr chart with potterboxes and a rangeSPY is trading in this range right now and could break either way anytime. stay patient and positive.
$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.
Spy idea I think it gaps down tomorrow morning and then retrace after touching the 566 area support . RSI in the one hour looks really bad bulls would be buying this Deep and I will buy some calls at this level
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."
SPY adjusted in July for the election ...In July, the market adjusted slightly to prepare for the upcoming election on Nov. 5th, 2024. The SPY was usually topping out around the 22nd of the month, and started to go back up around the beginning of each month. But in July the downward movement lasted a little longer. (I circled the area where it started to adjust) and it started to go back up around August 6th.
I suspect the market will start to go up tomorrow as the 4 hour, 5 hour indicators started to show a move upward. I believe it will gap up tomorrow and continue to go up. I should have entered today but missed my chance.
I just started to use the Heikin-Ashi candlesticks as I find they show more of a definite direction on the chart itself. But I am still learning about this. :-) But you can see on the chart how you can see a definite direction on the chart itself.
I use the MacD, DMI and the Stochastic RSI as my indicators.
The SPY will move between 32 to 40 pts this month before a brief retracement prior to the election. This was the average movement in the past few months.
I use the fib tool to get a general approximation of the target. I'm not exact on how to use the tool so my targets are a little off.
I suspect the target will be around 598 (3.618 fib) to 604 (4.236 fib)
It should hit this target around Oct 22 -25th before trading sideways or going slightly lower prior to the US election.
After the election, the market will go back up.
Happy trading, everyone!!
SPY Prediction 10/31/2024 SPY might hit the support level on the chart and fill the Gap. If not we are looking for the support level below
$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.
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/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
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...
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
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.
