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SPY levels for Tuesday 10/25/22
SPY hit the top of my zone almost to the penny and rejected. Still believe if we can break it we will see 387/388. Go back below I'll be looking to see if the new zone holds again. Held perfect today. If it does not hold will be looking for 370 then back to that 366 level that has been both support and resistance many times. Daily we are still above the 8 and 21 ema. Rejected the 50 today so need that to break to continue to the upside. Do have some earnings tomorrow that could move the market either way a good bit in my opinion. I'll be watching UPS and KO in the morning. Then all focus will be on MSFT and GOOG after-hours, I'll have the futures accounts ready for both.
SPY levels for Monday 10/24/22
Watching the 376-380 zone. If we reject want to see if 375 holds as a new zone. Break that and could go back to 370. Personally think we chop Monday with the big tech companies having earnings this week. Will keep trades light Monday If I take anything.
SPY levels Friday 10/21/22
Main level I am worried about today for SPY is that zone from 362-360. If that breaks we are headed for 350 imo. If it can hold we may see 366 which has acted as major support in the past. Currently below every major EMA on the hourly and right below the 8ema on the daily.
SPY levels for Tuesday 10/18/22
Bulls were able to defend the 360 level and almost pushed it to 370 before losing steam. Will have to break 370 before I feel we are in a rally. Break back below 365 I feel we will see 360 again for another test. Will be interesting to see if the buyers step in again at that level. Until we break one of the zones we are in between now I will continue to short at 370 and go long at 360.
Daily SPY levels. In a tricky spot here imo, I feel we are headed to that bottom zone (327-322). We also have a small gap before we get there. Will probably wait and see if we retest that zone at 350. Bulls need to hold that level or we continue down. Above 360 we could see a small rally back to the 370 area.
|Created:||Aug 20, 2022|
Option trading using Fibonacci levels and S/D zones.
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