Looks like AMEX:SPY will go down after bouncing off the 20 DMA. Bears rejoice!
The correction back to the primary trendline has started.. i had to to dust off the 100sma for a lot of stocks and indexes. Overalll technicals tell me we are headed lower than last week lows but a nice dead cat might be here near term. Dow jones Held that 37,800 support all week and finish the week with a break out of its down trend Looking for a short term...
New Thread ok everyone our levels for April 21st are Bulls calls over 502.50 price target 504-505 max508 maybe unlikely wouldn't count to much on the upside targets Bears short everything under 502 price targets 495-490-485 and as low as 480 this week my scenario playing out this week is a range 488-500 max this is what I anticipate the week forecast stuck in...
looking to short 180 days out to 90 days out i think we will see but see a another touch up to area OF B before going to 420
From a technical perspective, there hasn't been a definitive signal indicating a trend reversal for the SPY 500. Back in May to October 2023, the SPY exhibited a clear "M" pattern or double top, experiencing a drop of approximately 5%, retracing back, and then dropping around 10%, forming the M pattern. If we compare this M pattern with the current price action,...
if it dont go above 512$ then we can see 470$ coming month.
Here we gooooo. Institutional order here, nice wick out of supply zone. Classic drop base drop, 2-3 days out... $2-3 OTM. Lets get it.
We are in the middle of a bulls rally. But still in bearish territory. The 510 level is going to be very intense to watch. If the bulls manage to break up and consolidates above 510 bears are dead. I'm not shorting anything yet. I'm just sitting and looking at my long positions.
We should stay in 502-508 range today, consolidate. First move in the morning could be down. 508 is a strong resistance. I am wondering if we do another leg down or do V. Usually ACB should have another leg, but the move yesterday was strong, so I am 50/50 sitting on the fence.
Bollinger Bands and Stochastic are suggesting that downward movement in AMEX:SPY
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,...
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. ...
I see the bulls in the market attempting to cause us bears to panic. I believe this will be a short term "rally" that will only be the continuation of the downside trend.
Possible double bottom here. Watching for a continued push to the trend line and major monthly resistance.
Hey everyone, Wasn't going to post actually, despite promising haha. The chart is very unclear, there are no HA indications of direction and I am not a strong believer in trendlines (Which is why I completely ignored the major trendline in my last week idea when i said SPY was going to 504, had I cared about it, I would have been bullish, so you see the problems...
I am out for now. if we reach 502.50 SPY may be making right shoulder. However, There is that massive gap that needs to be filled so it may be just a quick scalp.
Last week, sellers firmly controlled the market. Buyers attempted to defend March's low, but the bears left them no chance. Prices consistently declined for six consecutive days, with the futures chart ( CME_MINI:ES1! ) appearing even more bearish. We are now approaching a critical juncture, which presents a significant opportunity for buyers to take a stand....
50sma - strong support / resi Below - market is bearish Above - market is bullish