Actually, it was difficult to get the gasp of using Elliot Wave on this kind of chart because it didn't work like usually do On H4 t.f., three Elliot Wave finished. ABC correction finish. A to B of second ABC is in process. I use fibonnacci from peak 2 to peak 0 and start with the level 0.50% to have a better idea of where the fifth peak will be. It should...
Recap: SPY is currently in a corrective wave using price action on the higher timeframe. Corrective waves are completed after 3 legs (A, B, and C) … Each wave has 5, 3, and 5 legs per wave respectively. A (5 legs), B (3 legs), and C (3 legs). There are other specifics but I will not go into detail. For now we are operating within wave A, soon to be wave B which...
So, this is a slightly different look of another chart. Basically, we might be seeing this play out in real time. This pattern is scary where the price currently sits. and to where it can head. What is the pattern? Trace 2018 to Covid and then into recovery and correction. Bring that to the current move, pattern, wave... whatever you want to call it. It's...
AMEX:SPY 4 hr looking strong. NASDAQ:MSFT , NASDAQ:GOOG , NASDAQ:GOOGL , NASDAQ:META all report this week (W-T) Trend line converges with monthly resistance. We'll see.
At the end of last week, sellers confirmed weekly consolidation by closing below the previous week's low. From now on, bears have control over the price on the weekly timeframe. We should monitor the progression of weekly lows and highs to see when things start to shift, but until then, we should trust the sellers. It is also notable that if we look at the futures...
The confluence at the lower lever and the 1 hour chart reacting at that level has me buy a very small low risk call option trade.
I hope you guys enjoyed the video! Feel free to comment down below if you have any questions!
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...
Possible double bottom here. Watching for a continued push to the trend line and major monthly resistance.
Like shown on the chart. Spy can continue downtrend in 4 ways. Since rsi is oversold. Just be patient and wait for price action on each level. Whenever spy reaches those level on higher timeframe switch to 5 mins timeframe and wait for price to atleast break nearest demand zone for downtrend continuation.
I will be very surprised if we don't see some serious sell-offs throughout the market in the coming days The chart and the volume are... impressive.
Charts remain very bearish for the Stock market using spy as reference. This is a quick small update since I am in a hotel using my hotspot, but I wanted to send out an update.
... for a 4.50 credit. Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the S&P 500 ETF. Here, adding a strike better than what I currently have on in the August expiry. Will generally look to take profit at 50% max.
Disclaimer: This is not financial advice. Please trade responsibly and at your own risk. Optimal Entry Point: Aim to initiate a position around the price level of 515. This level is identified based on current market analysis and recent price behaviors that suggest potential profitability. Critical Resistance Zone: Watch for a clear breakdown in the price range...
My dear followers, I analysed this chart on SPY and concluded the following: The market is trading on 510.83 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 515.64 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to...
hypothetical expectation on SPY - head and shoulders before the big drop?
The SPDR S&P 500 ETF Trust (SPY) exhibits signs of bearish momentum, underpinned by several technical indicators and recent price action. The ETF has breached crucial support levels, auguring a potential continuation of the downtrend. Recent Price Action: The latest candlestick pattern on the daily chart suggests indecision, characterized by a small body and...
SPY on the weekly chart is up 25% in the past six months. This is beyond its historical norms even during a presidential election year. While there has been some volatility in both directions the climb is consistent and persistent. The indicators serve to document this. The predictive algo predicts more of the same. A price cut when the fed gets around to it...