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SPY trade ideas

SPY/QQQ Plan Your Trade For 12-19 : Top PatternToday, we should expect the SPY/QQQ to move a bit higher - trying to form a short-term top before price rolls downward again. I urge traders to stay very cautious of early trending and look for a bigger opportunity later in the day as price rolls downward. Gold and Silver are struggling. I still believe Gold and Silver will rally higher as fear elevates. But right now - that is not happening. I need to see Gold and Silver move away from this panic selling before I can become move convinced of a trend. Stay cautious if you are trying to trade Gold and Silver right now. Bitcoin is moving through an EPP pattern very cleanly - actually a DUAL EPP pattern. $95-$99k should be the downside price target throughout this move. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMEX:SPYShort
by BradMatheny
SPY at a Critical Juncture: Will it Reversal or More Pain Ahead?In the past two days, SPY (S&P 500 ETF) has experienced a pronounced downturn, raising critical questions about the next directional move. Today's price action indicates a pivotal moment, with the market consolidating near a key support level at $584. The question remains: is this a pause before a bounce, or a precursor to further downside? This detailed analysis breaks down SPY's current technical setup, provides actionable trade levels, and offers insights into potential scenarios for tomorrow's session. Let’s dive into the charts and indicators to uncover opportunities. Technical Market Trend Analysis 1. Downtrend Confirmation * Price Structure: SPY has formed consistent lower highs and lower lows over the past two sessions, clearly defining a downtrend. The breach of the critical $587 support level early in today’s session amplified selling pressure. * Trendlines: A descending channel on the hourly chart below further confirms bearish control, with price respecting the upper boundary of the channel as resistance. 2. Volume Dynamics * Selling Pressure: Noticeable volume spikes during the declines highlight strong participation by sellers. * Reduced Buying Interest: Rebounds were marked by lower volume, indicating a lack of commitment from buyers. Key Levels to Watch Support Levels 1. $584: The current zone where price consolidates. This is the first line of defense for bulls. 2. $580: Major gamma exposure support level (GEX7). Breaching this level could accelerate downside momentum toward $575. Resistance Levels 1. $587: Immediate resistance. A reclaim of this level would signal strength and could trigger short covering. 2. $590: Aligned with gamma resistance and psychological significance, this is the next target for a bullish breakout. Indicators in Play EMA Analysis * The 9 EMA and 21 EMA are both sloping downward, acting as dynamic resistance levels. This reinforces the short-term bearish trend. MACD * The hourly MACD shows bearish momentum, with a widening histogram and a negative crossover. However, a slight tapering in the histogram near the end of the session hints at potential consolidation or a reversal attempt. Options Oscillator and GEX Insights * Gamma Levels: * $584: Current pivot, showing strong put positioning. * $580: Heavy put support; any break below this would likely see rapid downside. * $590: Significant call resistance; a breakout above would indicate a shift in sentiment. * Sentiment: Dominance of 102.7% puts reflects bearish sentiment in the options market. Trading Strategy Scenario 1: Bullish Reversal Setup 1. Entry: Enter long above $587 with confirmation of strong volume. 2. Target: $590 for the first target, $593 for the second. 3. Stop-Loss: Place stops at $585 to minimize risk. 4. Justification: * Reclaiming $587 would signal a potential reversal or at least a relief rally. * $590 aligns with gamma resistance, offering a logical profit target. Scenario 2: Bearish Continuation Setup 1. Entry: Short below $584 with increasing sell volume. 2. Target: $580 for the first target, $575 for the second. 3. Stop-Loss: Place stops at $585.50 to cap risk. 4. Justification: * A breakdown below $584 would confirm the continuation of the downtrend. * Heavy put support at $580 would likely provide the next pause point. Market Outlook While the short-term trend is bearish, the market is approaching a critical inflection point. Tomorrow’s session will likely determine whether SPY bounces from oversold conditions or continues its descent. Watch for high-impact news and volume trends to validate directional moves. Conclusion SPY’s price action reflects a decisive moment. Both bulls and bears have clear opportunities depending on how the key levels at $584 and $587 play out. Use disciplined risk management and wait for confirmation before entering trades. Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
AMEX:SPY
by BullBearInsights
SPY Analysis: Daily & 1-Hour Chart With GEX Analysis for Dec. 17Current Sentiment: * SPY appears range-bound but leaning bearish near resistance on the Daily chart. * The 1-Hour chart shows SPY retracing from its recent high around 609, struggling to hold above key support levels. Key Technical Levels Daily Chart: * Resistance: 609.97 (recent high). * Support: 602.81, 598.40. * Trend: Uptrend intact, but momentum is stalling. Watch for a potential break below 602. 1-Hour Chart: * Resistance: 607, 608.41 (GEX Call Wall and prior highs). * Support: 605, 604 (key demand area), and 602.13 (next major support). * SPY is showing lower highs on the hourly chart, indicating a short-term bearish bias. Options Gamma Exposure (GEX) * Call Wall: 608 (2nd Wall) and 611 (upper wall). * Put Wall: 604 (3rd PUT Wall). * HVL (High Volatility Level): 603, suggesting potential support if tested. * GEX Overview: * Puts dominate with 40.2%, showing hedging pressures. * IVR (Implied Volatility Rank): 10.8, IVx avg 12.9% – lower volatility indicates slower moves. Scalp and Swing Trade Suggestions For Scalp Trade: * Short Bias: If SPY fails to reclaim 607, consider a PUT scalp targeting 605. * Entry: Below 607 with confirmation. * Target: 605, 604. * Stop-Loss: Above 608.50. For Swing/Day Trade: * Put Option: * Strike: 605 PUT (Weekly Expiry). * Entry: On rejection at 607-608 levels. * Target: 602-604 zone. * Stop-Loss: Above 609. * Call Option: * Strike: 608 CALL if SPY breaks and holds above 608. * Target: 611-612 zone. * Stop-Loss: Below 606. Conclusion: SPY is showing signs of weakness near resistance, with a short-term bearish setup. A rejection at 607-608 could trigger PUT opportunities toward 602-604. Keep an eye on the 603 HVL for potential support and monitor price action carefully. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and manage your risk before trading.
AMEX:SPY
by BullBearInsights
A Bullish Setup with Fair Value Gap in Play Time to Tap Into the Reversal? As we approach a critical juncture on SPY, the charts are presenting a fascinating opportunity for those tuned into price action and market structure. The recent price behavior suggests we may be at the cusp of a significant reversal, and a potentially bullish setup is starting to take shape. Let’s dive into why I believe SPY is primed to tap into the fair value gap (FVG) above, and why this may be the perfect time to look for long positions. The Reversal Is in the Air After a recent pullback, we’re seeing key technical indicators point toward a possible reversal. Price action has been testing critical support levels, and momentum is showing signs of slowing down, setting up the conditions for a bullish pivot. But what truly stands out here is the fair value gap (FVG) formed below the current price. For those familiar with the concept, a fair value gap is an area where price has moved too quickly through a range, leaving an imbalance between buy and sell orders. These gaps often get filled as the market seeks to restore equilibrium. Filling the Fair Value Gap – The Bullish Potential Looking closely at SPY’s chart, we’re seeing the potential for price to either tap into the fair value gap below or close above it, signaling a strong move to the upside. If we see a push past recent resistance levels, this could trigger a gap fill on the bullish side, with price aiming for a higher target. Here’s what we want to watch for: Reversal Confirmation: A close above the current resistance level would confirm the potential for the bullish move. Look for a clean break and retest to validate the strength of the move. Fair Value Gap Fill: As mentioned, price may want to fill the gap to restore equilibrium. If this occurs, it could serve as a solid entry point for long positions, with targets set to the upside. Entry Strategy – Calls Look Attractive Once the reversal is confirmed and the fair value gap is filled or cleared, it’s time to look for long positions. SPY has a history of making swift moves, and with momentum in our favor, a well-timed entry could provide solid returns. For those who prefer options, consider buying calls as an efficient way to tap into the bullish potential. Look for a strike price near the next significant resistance level to capitalize on the move, and make sure to manage risk appropriately with stop-loss levels. What to Watch Next Keep an eye on the following key levels: Immediate Resistance: The first resistance area to watch will be around . A breakout above this level could signal the start of the bullish leg. Fair Value Gap Zone: If SPY taps into the fair value gap, expect a pullback followed by a potential rise. The gap filling could set the stage for a more sustainable move upward. Wrapping It Up The current setup on SPY is compelling, and it’s important to stay vigilant as price action unfolds. With a potential reversal on the horizon and the fair value gap acting as a key technical level, the next move could be a strong one. Be ready to take advantage of the upside if we see a confirmation of this bullish shift. As always, use proper risk management, and stay informed of any macroeconomic events that could influence market sentiment. Happy trading, and let's see where SPY takes us next!
AMEX:SPYLong
by CapitalGainz33
Grinch drop, Santa popSPY is at it's 2 year trend channel resistance level. There's very little upside reward left. There's a greater downside risk. The Grinch may try to steal Christmas with a temporary SPY drop towards support. But then a Santa Claus rally will pop SPY back up to it's resistance level. SPY 2 year trend channel levels: resistance = 605 pivot = 585 support = 565 trade ideas: 1) collar strategy hold 100 shares sell 585 call buy 605 put 2) buy 605 put 3) short call spread sell 585 call buy 605 call 4) long put spread buy 605 put sell 585 put SPY options data: 12/6/24 expiry Put Volume Total 219,329 Call Volume Total 125,297 Put/Call Volume Ratio 1.75 Put Open Interest Total 750,130 Call Open Interest Total 233,054 Put/Call Open Interest Ratio 3.22 12/13/24 expiry Put Volume Total 69,042 Call Volume Total 43,893 Put/Call Volume Ratio 1.57 Put Open Interest Total 317,687 Call Open Interest Total 228,869 Put/Call Open Interest Ratio 1.39 12/20/24 expiry Put Volume Total 336,702 Call Volume Total 139,171 Put/Call Volume Ratio 2.42 Put Open Interest Total 3,273,537 Call Open Interest Total 1,426,800 Put/Call Open Interest Ratio 2.29 12/27/24 expiry Put Volume Total 13,062 Call Volume Total 14,931 Put/Call Volume Ratio 0.87 Put Open Interest Total 72,224 Call Open Interest Total 59,538 Put/Call Open Interest Ratio 1.21 1/17/25 LEAPS Put Volume Total 191,268 Call Volume Total 63,574 Put/Call Volume Ratio 3.01 Put Open Interest Total 2,376,812 Call Open Interest Total 855,976 Put/Call Open Interest Ratio 2.78
AMEX:SPYShort
by Options360
3
SPDR S&P 500 ETF Trust (SPY) 2-Hour Time Frame Analysis Current Current Market Overview As of December 2024, the SPDR S&P 500 ETF Trust (SPY) is showing a bullish trend with the following technical indicators: MACD : Suggests a buy signal. RSI : Indicates a neutral signal. Moving Averages: Both 20-day and 50-day moving averages suggest a buy signal. Price Action: The support level is at US$600.96, and the resistance level is at US$607.46. Options Strategy Recommendations 1. Long Call trade_id: g-663257 Signal: Bullish Option Strategy: Long Call Current Price: US$605.57 Strike Price: US$550.00 Expiry Date: 20-Dec-2024 Buy/Sell: Buy Call/Put: Call Premium: US$55.46 Stop loss: US$49.91 Take profit: US$61.01 Probability of Profit: 51.4% Implied Volatility: 96.81% Max Loss: US$-5546.00 Max Gain: ∞ (infinity) Break-even price: US$605.46 Days to Expiration: 2 Rationale: This strategy is designed to capitalize on a bullish outlook for SPY, with a high probability of profit and a defined risk-reward profile. Conclusion The SPY is currently in a consolidation phase, and the recommended options strategy provides an opportunity to capitalize on potential bullish market movements. The Long Call offers a high probability of profit with defined risk, allowing for profit from significant price movements in the upward direction.
AMEX:SPYLong
by CapitalGainz33
1
SPY Technical Analysis (TA) and GEX Analysis for Dec. 181. Daily Chart (1D) * Trend: SPY is trading within a well-established upward channel. The price recently hit resistance at the upper channel line (~609), suggesting overbought conditions. * Support Levels: * 590: Key short-term support, aligned with the lower EMA support. * 577-571: Major support zone; a breakdown here signals a bearish shift. * Resistance: * 609-610: Upper trendline resistance. SPY has failed to hold above this range. * Indicators: * MACD: Bearish divergence forming as momentum weakens while price pushes higher. * Volume: Strong volume uptick at recent highs, suggesting possible distribution. Bias: The daily chart signals caution, with a potential pullback to 602-604 (middle channel) or further to 590. 2. Hourly Chart (1H) * Price Action: SPY shows rejection from the upper resistance (~609) and is trending downward towards key intraday support at 602-603. * Support/Resistance: * Support: 602 (highest PUT Wall in GEX), 604 (confluence of EMA and PUT Wall). * Resistance: 607-608 (CALL resistance). * Indicators: * MACD: Bearish crossover; momentum remains negative. * Trendlines: SPY is testing lower channel support on this timeframe. Bias: SPY is likely to remain range-bound between 603-607 for now. A break below 602 could accelerate downside pressure. 3. GEX Analysis * Key GEX Levels: * 607: CALL Resistance (1.25%). Likely an upper cap. * 603: Highest negative NETGEX/PUT Support. This level is critical; breaking below it increases bearish momentum. * 602: Second PUT Wall (-32.62%), significant downside target. * Options Oscillator: Indicates PUT dominance with 56.9% Puts versus Calls. * IVR (Implied Volatility Rank): 16.7 — IV remains low, suggesting minimal volatility expectation. GEX Insight: The options market suggests 603 is the battleground. Bulls need to reclaim 607 to push higher, while bears will attempt to defend the PUT-heavy zones at 603-602. Trade Outlook for SPY * Bearish Setup: Look for rejection at 605-607. A breakdown below 603 can target 602, with potential downside extension to 600. * Bullish Setup: A strong rebound off 603 with volume could signal a push back to test 607. Break above 608 confirms bullish continuation. Conclusion SPY remains at a critical juncture near upper resistance. Monitor 603 closely, as a break or bounce here will dictate short-term direction. Options GEX levels highlight a PUT-heavy market, favoring bearish pressure unless bulls reclaim higher ground. This analysis is for educational purposes only and does not constitute financial advice. Always manage your risk.
AMEX:SPY
by BullBearInsights
SPY's Potential Reversal at New York OpenThe market is always moving towards stop loses. Price is always seeking them out and the Market-Description: In this analysis, we're observing the SPY chart on a 15-minute timeframe as it approaches the New York Open on Monday. The chart illustrates a potential retracement back up towards the most recent bearish Fair Value Gap (FVG), which is creating liquidity for the market to potentially move further down. Key Observations: Bearish Fair Value Gap: Identified as a critical zone where price may react, providing a potential entry point for short positions. Liquidity Creation: The retracement towards the FVG is seen as a mechanism for liquidity creation, setting the stage for a possible downward move. Trend Break and Reversal: After the initial downward move, we anticipate a break in the trend, leading to a reversal back towards the upside. This prediction is based on past observations and aims to provide insights into potential market movements. Traders should watch for any current Fair Value Gaps and monitor price action closely as the market unfolds.
AMEX:SPYShort
by CapitalGainz33
1
Deep short for SPY? My target is at 510, here why!Christmas Eve Rally? - Not quite. Trump Trade? - Hardly. So, what’s driving the market higher, and where is SPY headed next? Investor sentiment surrounding the upcoming U.S. presidential elections seems to echo the euphoria of 2016, raising hopes for a similar post-election rally. Themes like tax cuts, protectionism, and trade wars are fueling optimism for U.S. equities. But let’s not get carried away. The economic and geopolitical landscapes today are vastly different, and so is the narrative. The “Superman” Trump of 2016 no longer holds the same sway over markets. The post-COVID stock market rally was buoyed by an unprecedented flood of liquidity. Based on our analysis, those excess dollars are nearly spent. Furthermore, the global economic outlook bears little resemblance to the relatively stable environment of 2016. While the Democrats’ recent performance metrics provide Powell with ample material to champion a “resilient economy,” the bigger question remains: Is the U.S. stock market truly worth its current valuations? We’ll delve into the overvaluation of the #SPY and #SPX indices in greater detail in the coming updates. For now, you can pay close attention to technical analysis, identifying key peaks and potential correction levels.
AMEX:SPYShort
by gorgevorgian
Watchlist (12/16-12/20) Using TheStratSPY Analysis: Month is 2U but back under previous M high and close to flipping red. Last week was 2D but failed to get to magnitude and closed red, but above the reversal trigger at previous week lows. Daily was 2D on Friday, so the daily actionable signal would be a 2D-2U reversal if buyers were strong enough to make a higher high on the daily come Monday. To get us lower, we have a 3-1 4HR setup as well as a shooter 2U Hourly candle. Trigger and target levels can be seen on the chart. Overall, we have some confliction as the D and W are red while the M is still green. This shows an attempt to flip the month red and we must view it this way until we see a daily higher high. If that were to happen, then we look to see the week flip red and then possibly make a higher high on the week for the weekly reversal back to the upside, which would re confirm the month being 2U and green. Traditional TA traders will see a wedge or bull flag on the daily/4HR, but as Strat traders, we know this is just a lack of strength from either side as we continue seeing failed attempts to make HHs and LLs. Although unconventional, if you check the 3 Day TF through the 8 Day TF, you will see they are all currently inside bars in formation still. We also know that inside bars restart the process of making broadening formations, so now its just a waiting game. We see the current attempt is to make lower lows on the daily since we failed to take highs out after the daily reversal, so we now either take out lows, or fail and move back through previous range to the upside. With conflicting situations like this, you just have to rely on timeframe continuity. Until the M, W, D, and 60 are all the same color, simply fall back on top down analysis and timeframe continuity to see what's really going on regardless of how the charts may look Weekly Watchlist: Bullish: ETSY - 2-1 Week, Failed 2D Day. FTFC Green, so looking for BF expansion on the weekly CRWD - 2-1 Hammer Week. 4HR inside bar. Monthly 3-2-2 still slowly compounding 2Us to Mag RBLX - MoMO Hammer 2U week. 2-1 Daily to trigger week RKLB - 3-2D Hammer Week. Relatively large ATR and high rVol Bearish: MCD - 3-1 Week, Shooter 2U Day PINS - 3-2U failed Week, No Daily AS. Weekly Motherbar issues so caution here PDD 1-2U failed week (Revstrat). No Daily AS. Going for large weekly BF magnitude ROKU - Failed 2U Week. At Monthly exhaustion risk. Daily PMG and gap fill potential OXY - 2-1 Shooter Week. Not much range, but clean weekly AS and all big oil names deep red DDOG - 2-1 Week (Huge red week), Daily 1-3. 2 Daily gap fills, and some weekly lows to target LVS - 2-3 Week. At Q exhaustion. Will be FTFC Red before W triggers the 3-2D Neutral: WMT - 2-1 Week, Daily 3-2D failed. Daily AS could send it back into ATH. Alternatively there is an 11 pivot PMG to the downside + a small gap to fill
AMEX:SPY
by Alanger17
SPY will drop ... until Christmas.This is going to be quick.... busy right now. You can look at my other charts to see the explanation of why I use the Heikin Ashi candlesticks. The SPY is going to drop until Christmas. You can see the indicators on the daily chart shifting towards a downward move. I believe you will see a zig zag move with this drop. This week the market will drop. Starting Monday you will see it move slightly upward as there will be indecision/positivity around the Fed Decision. After the Fed Decision, the market will drop again until Christmas. This drop will be about the same distance as the drop this week. The targets I have laid out are on the Chart with the drop hitting around 593 before going back up at the beginning of next week to hit about 601. (It may not go up this high with the bounce up; it could hit a different level. I will update this post of the different levels it could hit if it hits my 593 target.) After the Fed decision, it will drop until approximately 585. I could be slightly off on any one of my targets. And if it doesn't hit 593 by the end of this week, all my other predictions will shift. Happy trading.
AMEX:SPYShort
by Princessgirl
11
SPY Crashed Today: Where Will It Head Tomorrow? (Dec. 19)The market witnessed a steep decline today, with SPY reflecting significant selling pressure. This crash-driven move indicates a pivotal shift in market sentiment, raising questions about support levels and potential recovery zones. Market Structure Analysis * Trend Overview: The daily chart shows SPY breaking below its ascending channel, signaling a potential trend reversal or deep correction. * Volume: An extraordinary spike in sell-side volume highlights panic selling and a possible capitulation phase. * Sentiment: Sentiment appears bearish in the short term, driven by macroeconomic fears. Supply and Demand Zones * Demand Zone: $577–$580 (critical for any potential bounce). * Supply Zone: $602–$607 (will act as immediate resistance on recovery attempts). Order Blocks and Support/Resistance * Key Resistance: * $591: A psychological and structural level. * $602: High volume node and previous breakdown level. * Key Support: * $580: Near-term support; failure to hold could test $572. * $567: A crucial lower-level support. Key Indicators * EMA: * 9 EMA and 21 EMA crossed bearish, confirming short-term downtrend momentum. * MACD: * Deep in bearish territory, momentum remains strongly negative. * RSI: * Oversold on multiple timeframes, signaling potential for a technical bounce. Options Flow and GEX * Put Wall: Significant at $590 and $580 levels, suggesting bearish bias remains strong. * Call Wall: $604–$607, indicating heavy resistance if price retraces upward. * Gamma Exposure (GEX): Negative, reinforcing current bearish momentum. Scalping vs. Swing Outlook * Scalping: * Look for intraday bounces from $580 to $586 with tight stop-loss below $578. * Swing Trading: * Wait for confirmation of bottoming signals near $577 before entering long. Bearish positions remain valid below $590. Actionable Suggestions 1. Short-Term Bullish: * Entry: Near $580 support. * Exit: Around $586–$588 resistance. * Stop-Loss: Below $578. 2. Short-Term Bearish: * Entry: On rejection at $590. * Exit: Target $580 or lower. * Stop-Loss: Above $592. Conclusion SPY's break of key support levels indicates a bearish short-term outlook. However, oversold conditions suggest a technical bounce could occur in the $577–$580 range. Monitor key levels and macro catalysts closely before positioning. Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk responsibly before trading.
AMEX:SPY
by BullBearInsights
S&P 500 Reached The Top - Correction UnderwayThe S&P 500 looks to have reached a significant top - being rejected from the 1:1 Fibonacci extension on the Weekly Timeframe. With other confluence like the rising wedge, high weekly RSI levels, and a decreasing momentum on the MACD, all things point downwards for the stock market in 2025. The next target would be the blue zone where a potential chance for reversal could occur. A top in the S&P 500 could also signal tops forming on major stocks like NASDAQ:AAPL , NASDAQ:TSLA , etc. so keep a lookout.
AMEX:SPYShort
by MrStockWhale
SPY Technical Analysis PredictionThis chart is a daily timeframe for SPY (S&P 500 ETF), displaying multiple indicators such as pivot points, dark pool levels, trendlines, moving averages, and volume. The current market structure suggests a potential trend transition phase, with price currently consolidating near critical support levels. Key Observations: 1. Trend Structure: The long-term uptrend is still intact, supported by the green ascending trendline originating from prior lows. The recent pullback breached the 8 EMA and 21 EMA, which implies short-term bearish momentum. However, price is consolidating near the S1 pivot level (579.18), suggesting possible support. Higher Highs (HH) were achieved earlier in the trend, but the failure to maintain levels near the R1 pivot (614.64) indicates resistance and profit-taking. 2. Support and Resistance: Resistance Zones: 600-604: A psychological resistance level and the approximate region of the 8 EMA. 609.07: The previous swing high and a critical level for a bullish continuation. R1 (614.64): A strong pivot resistance level. Support Zones: Immediate support at S1 (579.18), which aligns with current consolidation. Lower supports are seen at S2 (555.80), S3 (543.72), and the ascending green trendline (~524). Dark pool levels between 513.20 - 522.91 represent critical institutional zones, which may act as strong support. 3. Volume Profile: Significant volume spike on the most recent red candle indicates institutional activity. If price remains above key supports (S1, S2), this could suggest accumulation. A breakdown below S1 would imply further distribution and downside. 4. Dark Pool Levels: Dark pool prints at 522.91, 518.92, and 513.20 mark critical price levels for institutional interest. A break into these levels would indicate bearish momentum but could offer significant buying opportunities near those zones. Trade Setup: Scenario 1: Bullish Reversal from S1 (579.18) Trigger: A strong bounce off S1 with price reclaiming the 8 EMA (currently near 600) would confirm bullish momentum. Profit Targets: 595-600: The immediate resistance zone and EMA alignment. 609.07: The swing high from earlier in December. 614.64 (R1): A longer-term target at the pivot resistance. Stop-Loss: Below 575, as this invalidates the bullish setup. Scenario 2: Bearish Breakdown Below S1 (579.18) Trigger: A break below S1 with high volume and price failing to reclaim the 8 EMA would confirm bearish continuation. Profit Targets: 565.16: The prior swing low and intermediate support. 555.80 (S2): A strong pivot support level. 543.72 (S3): A deeper downside target. Stop-Loss: Above 595, as it would indicate a reversal back above resistance. Scenario 3: Long-Term Reversal Near Dark Pool Levels If price falls into the dark pool zones (522.91-513.20), this could offer significant long-term buying opportunities, especially near the ascending green trendline (~524). Final Thoughts: Short-Term Outlook: Consolidation near S1 requires close monitoring for either a bullish reversal or a bearish breakdown. Volume and price action at the EMAs and pivot levels will be crucial indicators. Long-Term Outlook: The green trendline and dark pool levels represent strong support zones, offering potential for accumulation if prices drop further.
AMEX:SPYLong
by thedarkpooltrader
SPY Market Setup: Key Levels $ Options Strategy for Dec.12, 2024Overview of GEX Levels * Resistance Levels: * $609: GEX9 and 3rd Call Wall, representing strong resistance where sellers may emerge. * $607: 2nd Call Wall and the highest positive NETGEX, marking a critical resistance level. * Support Levels: * $605: GEX7, providing a significant support level for pullbacks. * $603: HVL (Highest Volume Level), a pivotal support zone. Holding above this level indicates bullish strength. * $602: GEX support zone, with $601 acting as the final support level. Options Oscillator Indicator Insights * IVR (Implied Volatility Rank): 6.6 (low volatility rank). * Suggests subdued implied volatility, favoring non-directional strategies or narrow price ranges. * IVx Avg: 11.5. * Current implied volatility is near average levels, suitable for premium-selling strategies. * Put$/Call$ Ratio: 45.9% skewed toward puts. * Reflects bearish sentiment, with more traders hedging or positioning for downside risk. Technical Setup * SPY is trading within a tight range, with resistance at $607 and support near $605 and $603. A break above $607 could lead to a retest of $609, while a drop below $603 may open the door to bearish momentum toward $602 and $601. Options Trading Strategy * Bullish Play: * Buy SPY Dec 15, 2024, $607 Calls if price breaks and holds above $607. Target: $609; Stop: $605. * Neutral Play: * Sell SPY Dec 15, 2024, $607 Calls and buy $610 Calls (credit spread) if price consolidates below $607, taking advantage of limited price movement. * Bearish Play: * Buy SPY Dec 15, 2024, $605 Puts if price falls below $603 with strong volume. Target: $602; Stop: $606. Conclusion
SPY is consolidating near critical levels, with $607 acting as the key pivot for tomorrow's price action. Options sentiment and GEX levels suggest caution, with potential for both upside breakouts and downside pullbacks. Traders should focus on breakout or rejection signals around $607 and $603 for actionable setups. Disclaimer: This analysis is for educational purposes only.
AMEX:SPY
by BullBearInsights
$SPY December 10, 2024AMEX:SPY December 10, 2024 15 Minutes. 605 as expected was done. Downtrend confirmed as long AMEX:SPY is below 607 levels. 607 is 200 averages in 5 minutes and 61.8% retracement for the fall 609.07 to 604.08 This 606-607 is a level to short. For the rise 597.28 to 609.07 61.8% retracement is 601-602 levels. Soif 604 is broken today 599-600 is my target for today. In daytime frame AMEX:SPY took support at 9 averages. 21 average is 598 levels. For me usually downtrend in 15 minutes until 200 averages price is above current price in 5 minutes. We have an oscillator divergence at close. price made LL but oscillator did not support. So, i expect a pull back at open.
AMEX:SPYShort
by RiderTrader
16
SPY Buyers In Panic! SELL! My dear friends, SPY looks like it will make a good move, and here are the details: The market is trading on 607.88 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 596.88 Recommended Stop Loss - 614.33 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
AMEX:SPYShort
by AnabelSignals
5