S&P 500 Technical Analysis 6/29 [TA 13]

Описание: The S&P 500 is still looking very bearish on longer intervals. However the whipsaw action in the market has made trading difficult. In this video I go over my playbook for how I plan to trade during the week of 6/29.


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$SPY Technical Analysis 5/25 –Bearish

A Quick Note: This is meant to be a purely charting and analytical approach to evaluating market movements. Although I have been very successful in the past predicting movements traders should always make an effort to adjust their positions based on changing political and media landscapes. This approach isn’t meant to be any more accurate than a meteorologist predicting the weather. Take positions at your own risk and always do your own due diligence. I release these for thoughtful criticism from traders who use different approaches for analysis.

Tl;dr: Long-term bearish momentum is mounting. If SPY drops below 300 expect a low volume “slip and fall.” Trying to find a put entry around 311.

Ticker: $SPY

Intervals: 1W, 1D, 1H

Indicators: MACD, KDJ, MA(200 & 50), NetVolume, VPVR, PPS VP Oscillator

Signals:
1W: MACD Bullish Convergent, Net Volume (-534M) Bearish, KDJ Extremely Overbought Bearish Convergence
1D: MACD Bearish Divergent, Net Volume (-137M) Bearish, KDJ Nuetral Bearish Divergence
1H: MACD Convergent Inconclusive, Net Volume (-500k) Bearish, KDJ Nuetral/Slight Bullish Convergence

Key Supports:
300
296.33
289.88

Key Resistances:
306.84 (Minor)
313.10
320.73

Position: Looking to enter 308p Strike 7/15 expiry.

Targets: BTO put position 311 or above, lock in profits with a stop if SPY moves below 308. Stop out if the market get above 315.

News: “10 states and cities are pausing or reversing their reopenings as coronavirus cases spike — here's how their plans are changing”
(https://www.businessinsider.com/state...)

“Fed to cap bank dividend payments after completing stress test, COVID analysis”

(https://finance.yahoo.com/news/fed-to...)

Analysis: Longer interval momentum is decidedly bearish (1W & 1D) with all indicators signaling bearish sentiment. 1H is inconclusive. If the trends of previous weeks hold, we should see some bullish movement on Monday and Tuesday presenting put entries for the long term.


Charts: https://imgur.com/gallery/TZapb0o

Alternative Plays: JETS, IWM