AMEX:SPY January 26, 2024 15 Minutes AMEX:SPY refusing to take a side.Sideways the whole week. I am still holding my shorts. The range is 485-489 as per box. Either side breakout can give a $3 move. As of now, 9,21,50, and 100 averages have converged. After a long time, I did not get any trade to initiate or close on Wednesday/Thursday. In the box SPY...
AMEX:SPY January 25, 2024 15 Minutes As expected since AMEX:SPY was way above moving averages the 15-minute uptrend was limited. The target 488.5 above the breakout rectangle was achieved allowing shorting at 488 levels. This is a contra setup considering AMEX:SPY is an uptrend, a Black bar on stochastic on top, and the Elliott wave oscillator was...
AMEX:SPY January 24, 2024 15 Minutes. As expected AMEX:SPY moving sideways. 100 and 200 averages are sloping upwards. Hence I still expect a pullback to 480+ levels. For the day a break above 485.22 may take AMEX:SPY to $2 to $2.5 being consolidation levels in the box. Even though the stochastic black bar is on top, indicating bullishness it is negated...
AMEX:SPY January 2024 15 Minutes As expected AMEX:SPY is in sideways as very far away from moving averages in 15 15-minute time frame. For the day I have shorted. It is contra as a black bar on stochastics is still on top, Elliott oscillator green. Since a pullback is expected as per moving averages I will close the shorts around 481-482 levels. If we...
AMEX:SPY January 20, 2024 15 Minutes. I had old my position pre-open at 478.6 levels as I had expected resistance as marked in a green rectangle in the chart. The open bar was not good. Closing near low and inside parallel channels. But sell was negated by the Elliott oscillator being green, a black bar on stochastic continued to be on top, and CCI...
AMEX:SPY January 19, 2024 15 Minutes. The short was taken as it was gap open. The subsequent 2 bars were green with close near the top of the bar. Also, we started to have a black bar on top of stochastics supported by Elliott oscillator green and CCI green. And once 475.5 was taken we had a trend change to go long. If we consider the rise of 464.44 to 478.6 ...
AMEX:SPY January 18, 2024 15 Minutes. Gap down at open. So no trade as 471 which was the target for short was achieved without a pullback. The 15-minute chart not looking good. The downtrend is intact. For the day 475.5 needs to be crossed for a trend change. Since SPY is below 200 averages I will short at 473-474 levels SL 475.5 for lower targets as LL HL...
AMEX:SPY January 17, 2024 15 Minutes. Back to 200 average support. As of now previous pattern if any has been negated in a 15-minute time frame. We need to consider 3 Fibs. The fall 478.6 to 473.07 The fall 476.6 to 473.07 And the rise from 473.07 to 475.06 As we can see in the chart AMEX:SPY is a downtrend correction mode in 15 minutes and needs to cross...
AMEX:SPY January 15, 2024 15 Minutes As expected AMEX:SPY on Friday managed to hold 474 levels to continue uptrend. I took a trade pre-market around 475.5 levels to exit at open 478 levels being gap up. The reason to take the trade was on Thursday's close AMEX:SPY had broken the trend line and closed over it. My SL was 475, so the risk was worth it. For...
AMEX:SPY January 12, 2024 15 Minutes. AMEX:SPY gapped up and hit 478 in the first bar. The Close was near the low of the bar. Since we expected 478-478.5 to be resisted shorted at 477 for 474 levels being a 38.2% retracement for the rise from 466.4 to 478.11. Also, it was near the 100,200 average. AMEX:SPY made low 472.28. For today's consider the rise of...
AMEX:SPY January 11, 2024 15 Minutes. The uptrend is intact as expected. Considering the last rise from 472.93 to 477.44 holding 474 levels 477 can be expected as a target. Moving averages are falling in place9,21,50,100 and 200 in order. AMEX:SPY closed above all moving averages. 422 will be a good support being 200 average numbers in a 15-minute time...
AMEX:SPY January 10, 2024 15 Minutes. SPY opened with a gap down. For the rise from 466.4 to 474.75 it was around 38.2% retracement. The second bar closed near the top, at 200 averages. The third bar closed above 200 averages triggering a long buy with SL 471.25 10 cents below the day low. at that time for a target previous day high around 474.5+ levels. So R:...
AMEX:SPY January 9, 2024. 15 Minute. In 60 minutes I was bearish because the 200 average was around 475, a black bar in stochastics was at the bottom, CCI was red and Elliott Oscillator was red. All bearish signals for me with 475 as a turning point. In 15 minutes also we can see a similar pattern. But once the 4th bar of the day in 15 minutes, we had a...
AMEX:SPY January 8, 2024 60 Minutes. Consider the rise of 409 to 477 AMEX:SPY retracing around 23.6% retracement levels. 200 Averages is also around 465-466 levels. Consolidation going on around that level last few hours. If we consider the last fall 477.55 to 466.44 473 will be a good level to short SL 475.5. previous shorts closed at 466 levels. Priced...
AMEX:SPY January 5, 2024 15 Minutes. Aggressively we could have entered a short at 470 levels being 61.8% fibo for the larger fall in 15 minutes or conservatively shorted once 468.5 was broken. The eight bar from open made an LH as 471.19 was not broken, being near the top of the range, and a small SL around 471.5. Now I will cover around 465 being 200 in 60...
AMEX:SPY January 4, 2023 15 Minutes The downtrend is intact. If we consider the fall 471.19 to 468.17 470 will be a good level to short. As we can see a base is being formed in 468.5+ levels and lat low 468.17 has oscillator divergence. AMEX:SPY below all moving averages. Breaking 468.5 should give a good trade around 464 levels, being 200 averages in 60...
AMEX:SPY January 3, 2024 Weekly. Uptrend intact. For the rise 218 to 480 AMEX:SPY retraced to 50% around 348 levels. Also for the two LLs around 362 and 348, we had good Elliott oscillator divergence. If we take the rise from 348 to 460 AMEX:SPY again retraced 50% of the move around 410 levels. For the last rise from 410 to 470 50% retracement is around...
AMEX:SPY December 22, 2023 15 Minutes. As expected AMEX:SPY retraced to 472.5 levels. But two things happened. First was a gap up to 472.3. Retraced and we had a sell bar, 4th from open. We are in a bull market, and due to the gap up we can target only 469 levels ner gap-fill levels. In due course, we had a bar making a low of 468.84 which also happens to...