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SPXS

SPY does a rising wedge suggest a reversal? SHORTSPY on a 30 minute chart shows a rising wedge over the past week. Price is now under a nearly flat upper trendline of resistance while the support trendline is rising. The dual TF RSI indicator shows strength about 70 while the zero lag MACD shows a K /D line cross. Because of this I believe, SPY may retrace to 468 or the level of the Fib 0.5. Since SPY is a high volume high liquidity slow spread instrument I see a buying a put option or s short swing trade short on the shares as strong consideration for the next trading day if the breakdown is confirmed.
PYTH:SPYShort
by AwesomeAvani
2
SPY correction continues & another earnings season begins SHORTSPY 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. Deep support of the daily SMA200 ( red line) representing more than a 50% retracement is at the 450 zone. Megacap technology earnings upcoming may lead the way down or cause a consolidation for a reversal. April will likely be a big red month. April showers bring May flowers?
AMEX:SPYShort
by AwesomeAvani
5
SPY falls out of its channel on geopolitical risk SHORTSPY 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 SPY may be topping or correcting its ascend. The shorter VWAP line are more flat than the longest VWAP line. I see this as impetus to further implement my hedging strategy with conviction and discipline. I can easily appreciate that SPY could pullback to 490 ( the middle anchored VWAP line) and easily could pullback into 465 as a standard Fibonacci retracement. Obviously fundamentals can trump technicals. Geopolitical risk is significant can easily trump both of them. I find good cause to hedge with inverses of ETFs of the indices and inverse ETFs for technical stocks, and perhaps banks, financial stocks and bonds as a means to buffer any fall my long positions moving forward.
AMEX:SPYShort
by AwesomeAvani
Bearish Hedging Strategy LONG inverse ETFsThe idea is shown on this 120 minute. With the new sticky inflation data, the writing is on the wall. Likely the rate cut will be kicked down the time road. When is in consideration may be a rate hike in the meanwhile. Mortgage rates unchanged makes the banks suffer. Loan applications are down. Treasuries are being affected. So are tech stocks that have a growth perspective as a fundamental basis for anticipated futures growth propelling share price. This hedging idea is a way to survive or even thrive in a chaotic and volatile market environment and a means to treat an overload of bullish bias with an antidote of sorts.
AMEX:SOXSLong
by AwesomeAvani
S&P SPY OutlookThis market has been quite a tough one to figure out. As I have stated numerous times, it's become a game of chance. The markets have proven to completely ignore the horrible economic data, missed earnings, geopolitical crisis, QT, and so on. At this rate the stock market I believe is owned by just a small number of people and so I suspect we will see less and less significant moves in the market like we did in March 2020 and January 2021. Retail investors are nothing more than a drop in the water. This chart is based on the slowing inflation. We could see more downward pressure due to persistent inflation and rate hikes from the Fed, but from the looks of it, the QT will give way to QE once again and markets will clearly love that because it was QE that caused the 14-year bull market since QE was introduced in 2008. Without QE, markets are dead. Need proof? Google "S&P vs Fed Balance Sheet" you'll see that on the same week as QE was announced in 2020, was the same week markets started artificially rising and setting new all time high records during a PANDEMIC. Again, logical? No. Manipulation? Absolutely. I said it before and I'll say it again, once the Fed enacts QE again, it'll be the last time the do it. The economy and markets may like QE, but with it will bring a currency crisis as foreign holders will simply lose trust in the dollar. Almost every BRICS nation has dropped the dollar. Saudi is moving towards pricing oil in other currencies and the USD will be lights out. I believe we will see a currency crisis within 2-years. DXY will fall, inflation will rise once again because of new debt from QE and it'll be hell on earth for wall street and main street. You read it here. Check back, let's see what happens. In the short term, I expect some selling towards the mid line, and worse case is the bottom of the trendline. If we break through that bottom yellow, than it's gone. We could see markets just go to new all time highs because a 14-year bull market wasn't enough? The thing is, people have no idea whether to get in or stay out because we're just shy of ATH of the Dow. Who knows.... roll the dice and guess.
AMEX:SPY
by WorldEconomics
2
SPY ScenarioIf we use the Elliots Wave like in 2022, this is how it may play out. The selling has been steep enough to apply the Elliots Wave here. Catalysts for Oct is a hotter than expected CPI/PPI, especially with fuel inflation rising and fuel prices rising back near record highs. Bearish Technicals: (1-Week) - RSI - MACD - MFI ----- On the contrary, these moves while are some steep selling are not enough (yet) to say its a resumption of the crash that started Jan 2022. Perhaps we bounce off the trend line of Oct 2022, March 2023 and move back up for some unmerited reason?
SP:SPXShort
by WorldEconomics
5
#SPX SPX Jan 24th after the close updateSPX will be the first update from TheTradersRoom. SPX has hit its desired target we have called yesterday - 4904.50-4909.50 So I call it a perfect hit. Today's reversal came on a heavy selling, also got a black reversal daily closing SPX candle, which if not broken 1c above should mark at least a temporary top. If the price did find its top, then tomorrow's open should be a gap down below 4864 and my min target will be 4840-4835 SPX We have a Panic cycle day on the 26th and Im looking for a first important low on Feb 1st Happy to be back!
SP:SPXShort
by TheTradersRoom
1
RSP performing better than $SPX, good news for breadthThe AMEX:SPY is underperforming AMEX:RSP (equal weight SP:SPX ). This means that underperformers could very well pick up the slack & outperform the Big 7 going forward. They have been performing well. The Volatility Index TVC:VIX is down on the day BUT up from open. Will the moving avg's push it lower or do we get some sort of support here? This is a MAJOR SUPPORT level! TVC:VIX rarely gets close to oversold, let alone oversold. AMEX:SPXS AMEX:SPXL #stocks
AMEX:RSP
by ROYAL_OAK_INC
Spx500 rising stronglyHello everyone, In yesterday's trading, the index price took advantage of repeated positive pressures to jump above the stable barrier at 4422, thus recording significant gains by rushing towards 4515 , thus achieving the previously suggested goals. The price is currently still under the positive influence of the Stochastic indicator positioning within the overbought level, which invites us to wait for it to record additional gains that may extend towards 4529 , which in turn constitutes an extension of historical resistance to monitor the price’s behavior with the aim of confirming the expected direction for the upcoming trading. Pivot Price: 4495 Resistance prices: 4529 & 4558 & 4586 Support prices: 4461 & 4444 & 4405 The general trend expected for today: bullish
OANDA:SPX500USDLong
by Evar_Mayi