Spy may 6 Set up looks like it wants to fall/Puts. I think we would need a nice gap/push up Monday morning to fill another gapShortby pdmoreno8282
Strategic Entry Points for SPY.SPDR S&P 500 ETF Trust (SPY) is showing signs of potential bullish momentum after a period of consolidation. Based on an in-depth examination of the technical indicators and recent price action, there are actionable insights that sophisticated traders might leverage. The ETF has formed a notable (bullish engulfing pattern) on the daily chart, suggesting a strong reversal from the recent downtrend. This pattern, coupled with a break above the descending trendline, indicates increasing buying pressure. The ETF is currently testing a critical resistance level, and a decisive breakout above this point could confirm the continuation of the uptrend. RSI (Relative Strength Index): The RSI is slightly above the mid-line at 55, suggesting a growing bullish momentum without being overbought. MACD (Moving Average Convergence Divergence): The MACD line has crossed above the signal line and is trending upwards, which is traditionally seen as a bullish signal. Volume: There has been a noticeable increase in volume accompanying recent bullish candles, indicating strong buyer interest. Stochastic RSI: This oscillator is trending upwards but has not yet reached overbought levels, suggesting there is room for upward movement before the ETF becomes overextended. SPY is currently positioned above several key moving averages, including the 10, 20, and 50-day MAs, which are now acting as support levels. This positioning underpins the bullish sentiment. Support: The immediate support is found at the $506 level, with more robust support at $495, aligning with the 100-day moving average. Resistance: Immediate resistance is observed around $518. Further resistance can be expected near the $530 level. Long Position: Consider initiating a long position if SPY breaks and holds above the $518 resistance level. A successful hold would target a move towards the next resistance at $530. Set a stop loss just below the breakout level at $515 to mitigate risk. Short Position: A short opportunity may arise if SPY fails to breach the $518 level and shows reversal patterns. In this scenario, a move back towards $506 could be targeted. Place a stop loss at $521 to limit potential losses. If the bullish momentum continues with support from market fundamentals, SPY could potentially approach the $530 mark in the short term. A breach above this level could extend gains towards $540, guided by the momentum indicators and moving averages supporting upward movements. The SPDR S&P 500 ETF Trust shows promising signs for both bullish and bearish traders, with defined levels for entry and exit based on current technical setups. Traders should closely monitor these levels, along with volume and price action, to align their strategies with the prevailing market conditions. As always, it is crucial to consider external market factors and news events that could impact market sentiment and price action.by AxiomEx338
XBI - biotech has been hot last weekI like this breakout on XBI. I'm in with a bigger position and we're sitting right at the 100SMA> We could retest from here closer to 88/86 but below that I'd cut the trade. It's also sitting in a demand zone and ideally moves above $92/ 93. Longby Liathetrader0
Spy 4hr Major demand at the $500 level (zone 1). Pushed thru zone 2 now trading in zone 3. I expect some consolidation and a strong pullback to possibly back zone 2 before a continuation up to the upside. Longby KlabCo113
SPY IN DANGER This looks horrible on HTF for SPY, be warned a market crash is coming Shortby Scamwick69553
SPY: Last week of AprilSeems like its going to be a short. HA setup for a move to 500 inclusive of extended hours, with an equal bearish setup to 501 with extended hours toggled off. Interestingly enough 500 is also PL2 on the prospective levels (in the chart above). Sentiment for Monday is neutral to bearish. I have included some old tricks and models since this past week relying on one alone really gave me a run for my money haha. Pinescript similar day analysis: Neutral (equal bullish and bearish days); R Similar day analysis: Bearish R Logistic Regression model: Bearish R Z-Score Model: Bearish So let's hope that its going to be bearish on Monday haha. For the Week, half the models were unsure, the other half were questionable based on the cases. So let's leave it as neutral. It doesn't matter too too much because there is a really nice HA setup which gives a TP of PL2 on the week. We also have a bearish reference target at around 507. Remember with those, we open above, we will generally circle back down and if we open below we will generally circle back up. Let's hope SPY gives it up. If we do snag these low targets, the question becomes, when do we reverse back up. The answer likely being at the low targets. Market is bullishly bearish with constant over-exaggerated bounces everywhere. You really can't do wrong longing unless you over-stay. Those are my thoughts. Adopt a bullish bias if we end up snagging the reference target and holding it as support (because its right on the bearish condition). If that happens and we head back up, its looking like a bullish thesis is more correct. Let's see what we get! by SteverstevesUpdated 272759
Soybeans and Corn are ready to goAMEX:SOYB and AMEX:CORN seem to be heading for big moves. Not the most glamarous commodities but if one has leverage they can get a great risk to reward ratio. Does anyone know how I can buy these commodities ?Longby vssebuyungo0
QQQ Scalping Zones 5/6Upside Targets: * 437.26/439.12/440.73 Downside Targets: *433.13/432.57/432.04 Daily Trend Tracker - *QQQ+ *DXY+ *VIX- *US10Y-by QuantumEdgeAnalytics0
BEAR FLAG FORMATION FOR SMALL CAPS π»π© PRICE TARGETS SETThere is bear flag formation for small caps π»π© AMEX:IWM We have pointed FIB price targets for both the upside and downside. We expect the retracement to go as between the range as low as $169 to $176 Will you be shorting?πShortby JK_Market_Recap1
SPY Under Pressure! SELL! My dear friends, My technical analysis for SPY is below: The market is trading on 511.28 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable V continuation. Target - 507.15 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. βββββββββββ WISH YOU ALL LUCK Shortby AnabelSignals224
SPY Trading Opportunity! SELL! My dear subscribers, This is my opinion on the SPY next move: The instrument tests an important psychological level 508.23 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 504.66 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. βββββββββββ WISH YOU ALL LUCK Shortby AnabelSignalsUpdated 222
QQQ: Bearish Continuation is Highly Probable! Here is Why: The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the QQQ pair price action which suggests a high likelihood of a coming move down. β€οΈ Please, support our work with like & comment! β€οΈ Shortby UnitedSignals113
Bullish on Chinese equities - breaking outBreaking out of long term decline - however might pullback shortly before moving higherLongby Badassmofo0
SPYjust idea for my self for spy , if broke will might go for 596 or 600 , other why we will see pull back around 476 and go up that what i hop and i'm not sure :) thank you for vistby Mazzika1
$SPY daily trend breakoutAMEX:SPY has broken above the April trendline as it sits below monthly support/resistance levels. Note : there is a new gap to fill below from fridays significant gap up at open. Question : Can someone tell me if that is a bullish doji star? by Delli223
Expired GLD Weekly outlook. 1st WK MAY 2024Expired GLD Weekly outlook. 1st WK MAY 2024 > NEUTRAL π CORRECT Closed Price: 216.62 Target Price: 214.14 | Strike Price: 211.50 APR30 24' Upper Range: 217.38 Lower Range: 210.90 Longby putIQ2
IWMShowing good signs of strength at yearly pivot earlier this year. And then a recent bounce at the 200EMA. Not convinced this down leg is finished, therefore what we see here may be a bull trap.by patricktapper0
Nice Opportunity in Clean Energy!There seems to be an Ending Diagonal completed or very near completion, and this should mean a decent return over the next several months.by moneyjeff11
QQQ Buyers In Panic! SELL! My dear friends, Please, find my technical outlook for QQQ below: The instrument tests an important psychological level 435.48 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 429.45 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. βββββββββββ WISH YOU ALL LUCK Shortby AnabelSignals116
QQQ Under Pressure! SELL! My dear subscribers, My technical analysis for QQQ is below: The price is coiling around a solid key level - 431.06 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 423.50 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 βββββββββββ WISH YOU ALL LUCK Shortby AnabelSignalsUpdated 559
SPY: Bears Will Push The recent price action on the SPY pair was keeping me on the fence, however, my bias is slowly but surely changing into the bearish one and I think we will see the price go down. β€οΈ Please, support our work with like & comment! β€οΈ Shortby UnitedSignals223
QQQ pull back done or another leg down?QQQ had a bad week last week after trying since February to break long term resistance of the Blue trading channel. There was a lot of momentum but ultimately after being squeezed between resistance of the blue channel and support from black channel midline, it was time to take profit for the big guys. Clearly, inflation readings and uncertainty about interest rate cuts were the main factors. A hard sell off last week to establish a clear down channel with the biggest selling on Friday. Using the channel from August to November last year and with some minor tweaks, you can see that it ended Friday right on the support line. Another thing I was looking at were several of the most recent pullbacks over the last few years. You can see them overlayed on the peak of March 21st. Going by them, QQQ has already come close to extent of the smaller pullbacks. In my limited experience, these two indicators are usually a good sign for a rebound this week. The RSI is also in the oversold range and in line with other bottoms. The rebound could just be a short-term rally in the down channel like back in Aug and Sept last year with another leg down in the coming month or so. Or we could see a new attempt to break out of the blue channel. Either way, I was brave enough to open a few positions Friday before the close. Hopefully I don't regret that. Longby Dr_RobotoUpdated 4