SPY ES GamePlan ! Sunday- Monday Aug 28
ES Long Above 4429
Short Below 4389 but looking to take the 78 short ! under 4415!
Tight risk at 4416!
📣 MpowerTrades Daily Trading Outlook - Aug 28 📣
Hello Traders,
As we gear up for the trading day on Monday, August 28th, we're here to provide you with insights and expectations for SPDR S&P 500 ETF (SPY) trading.
Opening Expectation: SPY is projected to open at $438.75.
Intraday Price Range: Based on a 14-day Average True Range, anticipate a movement range between $434.98 and $444.92 throughout the day. This suggests a potential trading interval of approximately +/-$4.97 (+/-1.13%) from the last closing price. If SPY reaches the full calculated swing range, there might be an estimated 2.26% movement between the lowest and highest prices of the day.
Support and Resistance: With the stock closer to the support from accumulated volume at $439.66 (0.07%), compared to the resistance at $442.55 (0.59%), our systems indicate an attractive risk/reward ratio for intraday trading. This suggests potential profit opportunities before reaching the first resistance level.
SPY's Outlook: Presently, SPY displays several negative signals, leading us to believe in its weak performance over the coming days or weeks. Our evaluation of this ETF remains negative.
Remember, successful trading involves staying informed and being adaptable to market dynamics. Make sure to utilize these insights in conjunction with your own analysis for well-informed trading decisions.
Wishing you a profitable trading day ahead!
MpowerTrades!
ES Long Above 4429
Short Below 4389 but looking to take the 78 short ! under 4415!
Tight risk at 4416!
📣 MpowerTrades Daily Trading Outlook - Aug 28 📣
Hello Traders,
As we gear up for the trading day on Monday, August 28th, we're here to provide you with insights and expectations for SPDR S&P 500 ETF (SPY) trading.
Opening Expectation: SPY is projected to open at $438.75.
Intraday Price Range: Based on a 14-day Average True Range, anticipate a movement range between $434.98 and $444.92 throughout the day. This suggests a potential trading interval of approximately +/-$4.97 (+/-1.13%) from the last closing price. If SPY reaches the full calculated swing range, there might be an estimated 2.26% movement between the lowest and highest prices of the day.
Support and Resistance: With the stock closer to the support from accumulated volume at $439.66 (0.07%), compared to the resistance at $442.55 (0.59%), our systems indicate an attractive risk/reward ratio for intraday trading. This suggests potential profit opportunities before reaching the first resistance level.
SPY's Outlook: Presently, SPY displays several negative signals, leading us to believe in its weak performance over the coming days or weeks. Our evaluation of this ETF remains negative.
Remember, successful trading involves staying informed and being adaptable to market dynamics. Make sure to utilize these insights in conjunction with your own analysis for well-informed trading decisions.
Wishing you a profitable trading day ahead!
MpowerTrades!