AMEX:SPY getting spicy here, looks like a triple top for now headed into a lot of world news, ie Iran/Israel/Biden ... I think we've been overdue for a correction, this is a VERY solid base to start a downtrend and fill some gaps before heading back up for Trump Presidency... Buy the rumor stuff... No positions, will look for continuation tomorrow... - Prof
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.
... for a 4.95 credit. Comments: A Q3 starter position ... . Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. July isn't paying, so going out to August. Will look to add rungs in shorter duration, assuming I can get in at strikes better than what I've got on...
Here is a chart of SPY with the support and resistance outlined based off volume. TA can help you predict where price can go, and based off the current level its going sideways. This coming week we have earnings and FED speak on Wednesday from Powell. With inflation elevated and not appearing to decrease we can hear the same rhetoric from Papa Powell himself....
my post yesterday was on point. Follow me bay option 707 on X
We broke through Zone 3 and the next wicked down to the previous supply zone (zone 3). I would consider this next candle as non confirmation to the upside due to the wick down. I would prefer to see a candle survive totally above the zone as confirmation. Full body with no wick would be A+. However a pull back is in store as we are over 70 on the rsi, but equally...
SPY (second red mark) looks like a repeat of the 1st one. Additionally the pitchfork lines also seem bearish. Additional pitchfork lines also seem to confirm a bearish outlook:
... for a 4.34 credit. Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into S&P 500 ETF, adding at a strike better than what I currently have on. As with my other broad market, will look to generally take profit at 50% max or -- if assigned -- sell call against at the strike price my short...
Expired SPY Weekly outlook. 1st WK MAY 2024 > NEUTRAL 📊 CORRECT Closed Price: 508.26 Target Price: 509.87 | Strike Price: 510 APR29 24' Upper Range: 518.30 Lower Range: 501.43
very odd volume on very red candles. this is not financial advise.
Upside Targets: * 502.62/503.48/504.75 Downside Targets: *500.85/500.14/498.67 Daily Trend Tracker - *SPY- DXY+ VIX+ US10Y+
Spy has a bear flag forming on the daily. The next couple of days will be telling.
AMEX:SPY 4hr chart. A deeper look into previous posts.
Looks like AMEX:SPY wants to dump, but the Stochastic indicates that bargain hunters and dip buyers are starting to grow impatient
I have tried to highlight possible support areas if a down trend starts
Before the massive sell off, SPY just had a small gap that needs attention. Then, plop plop plop. Chocolate Banana time