RiderTrader

RiderTrader

AMEX:SPY May 3, 2024 15 Minutes. Last 2 days AMEX:SPY managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024. Now all moving averages have converged, 50 averages are around 502.5 levels. So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510...

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AMEX:SPY May 1, 2024 No comments. No trade day today. Nothing to write about. Went wrong. Back to drawing board.

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AMEX:SPY April 30, 2024 15 Minutes AMEX:SPY opened gap up around 510 levels. But the expected retracement happened only near end of day. It is on sideways between 508-510 levels. If we consider the rise from 493.86 to 507.37 4SPY retraced to 497.5 levels. This is more than 61.8 retracement for the rise. Hence 508-510 sideways going on for consolidation. I...

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AMEX:SPY April 28,2024 15 Minutes. For the fall 519.47 to 493.86 AMEX:SPY has retraced to 61.8% levels around 519.5 levels. Hence long only above 514-515 levels. For the rise from 493.86 to 509.88 AMEX:SPY need to hold around 500 levels. For the last rise 497.49 to 509.88 $ AMEX:SPY need to hold 502 levels. Therefore, a retrace to 500-502 levels will...

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AMEX:SPY April 26, 2024 15 Minutes. The expected long was nullified by gap down. But AMEX:SPY managed to close near 502 levels. Now we have all moving averages consolidated together. I have Elliott oscillator green, CCI green and stochastics above 75 with no black bar on top. Now for the rise from 493.86 to 507.37 AMEX:SPY retraced more than 61.8%. Also,...

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AMEX:SPY April 25, 2024 15 Minutes. As expected, AMEX:SPY managed to hold 502 levels. Foe the day holding 504 levels I expect 507 to cross towards 510 levels as initial target. If 504 is broken on downside I expect 501-502 as target. So, I feel not much worth shorting today. Based on opening 15 minutes today should be a trending day one sided. Moving...

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AMEX:SPY April 24, 2024 15 Minutes. SPY has managed to hold 493 levels. 50-day average in daily. in 15 minutes forming HH HL pattern. Moving averages are getting sorted out. For the day holding 501-502 levels, for the rise 498.91 to 506.09 uptrend in intact. So, on downside 500 is a crucial level to hold. On upside resistance is around 509-510 levels as it...

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AMEX:SPY April 21, 2024 15 Minutes. As expected the downtrend continues. Two issues. It is coming to the lower parallel channel in the move. And oscillator divergence. I expect a retrace to 498-500 levels. As I believe once 492-490 levels broke I will have a target of 495 which is 32% retracement for the larger move 409 to 524. 409 I have taken because...

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AMEX:SPY April 19 2024 Strength is only above 515+- at the moment. Today 497 should break and probably AMEX:SPY will touch 4892no 94 levels being 100 average in the daily. In 15 minutes we have 100 averages at 504 and 200 averages at 50 levels. Both will be resisted at least once. For the day I will go short around 502 levels on a gap up or below 497 on a...

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AMEX:SPY April 18, 2024 15 Minutes. Closed shorts yesterday at 500 in SPY. We have 494 as a daily 100 average and 21 in weekly. At the moment I do not expect a trend change to long. I expect any upside to be resisted around 506 levels being 50 average in 15 minutes. If we consider the fall from 517.28 to 499.12 we have 61.8% retracement around 510 levels....

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AMEX:SPY April 17, 2024 15 Minutes. Consolidation day. Today is Wednesday. I am expecting a one sided move. For the fall 506.5 to 502.61, AMEX:SPY retraced 78% and fell at close. For the two lows 502.43 and 502.22 we have oscillator divergence. I believe the uptrend for that divergence is over from 502.2 to 506. Today action will be above 507 or below...

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AMEX:SPY April 16, 2024 15 Minutes. As expected 505 levels in SPY. Opened gapped up. So after the first 15 minutes a sell below was triggered for 515 was a level to short as planned. As expected 50 day average was touched in daily. Now for the rise from 493 AMEX:SPY has retraced 61.8% levels. Crucial to hold for any uptrend to continue. If this level is...

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AMEX:SPY April 13, 2024 15 Minutes. AMEX:SPY took 50 average support in the daily. Now 505-510 levels become important to hold. The uptrend is from 493 levels in 15 minutes. Made a high of524 levels. so 61.8% retracement for that move is around 505 levels. If that level is not held next week I find it difficult to go long. Any rise up to 516 levels I will...

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AMEX:SPY April 12, 2024 15 Minutes. As expected ying yang is going on. Stop loss would have hit on both sides. After the quick fall from 523.86 to 512.76 AMEX:SPY has multiple times taken support at 512 levels. At the same time it is being resisted at 61.8% of the fall around 520 levels multiple times. For the first time in days has managed to close above...

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AMEX:SPY April 10, 2024 15 Minutes. AMEX:SPY opene gapup. But a sell bar as the close was near low of the bar. And 520.5 is not crossed. As expected took support at the rectangle. No trade for me. I think I will skip this week. I do not like the bar formations in the chart. Let it form a base as moving average nearby. No trade is also a trade.

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AMEX:SPY April 9, 2024. 15 Minutes. After the fall, sideways as expected. AMEX:SPY has retraced 61.8% of the fall. Buy is still above 525 only. Need to close above 200 averages in 15 minutes. As all moving averages are near in 15 minutes I expect a onesided move today based on open. If break 517.5 I have a target of 512-513 levels and ig cross 520.5 then...

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AMEX:SPY April 5, 2024. 15 Minutes. Stop loss hit. But the target was achieved as expected. One of the days where we tend to blame. Cheated. Gapped at open. Closed trade and computer. Knew it was not my day. No trade today also. The chart is corrupted. We have 508 as 50 average in daily. Possible target? Have to see.

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AMEX:SPY April 4, 2024 15 Minutes. As expected AMEX:SPY retraced to 61.8% levels and gave opportunity to short around 520 levels. In one hour we have LH formation. So considering the rise from 505 to 524 I expect a retrace to 515 levels which is also 61.8% retracement for the rise. It is also 200 averages for 60 minute time frame. I expect a trending day...