SPY on a 120 minute chart uptrended from October into late March. A standard Fibonacci retracement for this trend down could take it down to the 475 range or about another 10%. Current price is under the daily SMA 50 ( blue line) at 495 and could continue to fall into the SMA 100 ( green line) which is confluent with the Fibonacci retracement level. ...
The SPX has rallied approximately 3.5% since its lows on 19th April 2024 and well into the two-day FOMC meeting that kicks off today. In line with general market expectations, we do not anticipate any change to the central bank’s monetary policy, and just like on previous occasions, we expect Jerome Powell to reiterate the FED’s commitment to fighting inflation...
The SPY reversed its direction today, trading between the range of 506.10 to 508.80. It hit Fib 0.00% 3 times and with RSI crossing over.
The moment alot of the bears have been waiting for. I think we will finally get a healthy pull back in the indexes. Watch the video for all the reasons why you should be in bear mode for a little while.
Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major),...
Since February, the commodities asset class has surged ahead, overshadowing the S&P 500's faltering performance. This notable shift in market dynamics underscores the resilience and strength exhibited by commodities during this period. Of particular interest are the XLE and XLU sectors, which have emerged as frontrunners since early March. This transition...
AMEX:SPY looks to be showing signs of weakness here. Thinking that we could see the first large decline of the year into one of the support levels below $479-$495. Breaking the trend line would be the trigger. If that happens and we do get a low, then I think we'll have one final rally to the upper resistance levels between $525-$530. Another possibility, is...
The chart posted is what I see forming within the correction phase . as you can see the Dia and Iwm are showing some real sights of weakest the game of musical chairs one by one drop off So far best of trades Wavetimer
Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034...
There's always a price to pay! This is the price of bailouts, debt, and free money... House of Cards. Escalator up... Hellevator down... Been trying to ChART this move since 2019. It's so obvious it's coming. Timing is the hardest part. But this last pattern. I don't see a way out. Whoever wins this election gets blamed. They may let Trump walk...
I have explained the current situation in SPY so trade it very carefully. If you do trade then ge ready to burn your capital. NOTE:STAY AWAY FROM SPY
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the SPY pair which is likely to be pushed down by the bears so we will sell! ❤️ Please, support our work with like & comment! ❤️
SPY on the 2H chart shows the past six months of trend. SPY has been in an ascending channel but fall out of the channel. Iran's ambition to retliate against Israel and the movement of US NAVY warships into the the Middle East raises concerrn as does "sticky inflation" and early earnings reports from big banks. On the chart, trend angle analysis suggests the...
Watchlist, Stocks Indexes, Bitcoin, Crypto TA Charts by @NoFomoCharts 00:25 Watchlist and News 02:05 Stock Indexes 06:22 Crypto, Bitcoin, Altcoins Watchlist, SPY, QQQ, DIA, IWM. TOTAL, Bitcoin (BTC/USD), Halving History, ETH/usdt, BNB/usdt, SOL/usdt, ADA/usdt, XRP/usdt. 04/27/2024, 08:00PM EST Video Idea. Technical Analysis & Educational Chart...
Traders, We are right on track with literally everything as discussed in previous chart updates and videos. No surprises this week, thus, the short weekend update video. The only new development is that Bitcoin is testing our ever-important multi-year trendline yet again. Will the bulls win this tug of war or will the bears finally find the strength to pull price...
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...
Yesterday’s financial print in the United States revealed a notable decrease in the GDP growth rate on a quarterly basis, coming down from 3.4% in 4Q23 to only 1.6% in 1Q24. This figure was well below market expectations of 2.5%, which spooked investors and led to a sudden drop across U.S. stock market indices. Nevertheless, by the market close, the SPX recovered...
There has been a lot of propaganda of late talking about the BRICs will replace the US or China Yuan will etc.. this is flat-out silly talk designed to influence unsuspecting people for political purposes. This chart BKF/SPY is a comparison chart BRIC and the US. However, BRIC is now BIC since Russia has been cut out by US sanctions. In my view, BIC is...