๐Ÿ•ต๏ธโ€โ™‚๏ธ ๐Ÿฆƒ I $SPY TA - Friday Nov. 26, 2021

โ€‹ https://preview.redd.it/wl5047ebav181.png?width=2240&format=png&auto=webp&s=ec20e82be93f6f51e2b4baf7481755689e3b9bb6 Wednesday Nov. 24 US Market Wrap - Financial Juice Stocks rose as investors ignored tapering concerns raised in the minutes of the Federal Reserve's most recent meeting. As short-end rates rose, the dollar strengthened and the yield curve flattened. Following the release of the minutes, the S&P 500 rose briefly, with real estate and energy stocks leading gains. The Nasdaq 100, which is heavily weighted toward technology, outperformed major benchmarks. Trading volume has been lower than usual in the run-up to the Thanksgiving holiday in the United States. The dollar index has risen to its highest level since July 2020. Despite accelerating inflation, data released earlier today showed a resilient US consumer. The committee "would not hesitate to take appropriate actions to address inflation pressures," according to the Fed meeting minutes from November 2-3. Since then, inflation has risen to its highest level since 1990, prompting Fed officials to suggest that a faster pace of tapering should be discussed at the December meeting. This has caused a rise in treasury yields, with the two-year yield reaching its highest level since early March 2020 and markets bringing forward bets on rate hikes. Personal spending in the United States increased more than expected in October from the previous month, while a closely watched inflation measure showed the largest annual increase in three decades. Furthermore, data show that 199,000 people filed initial jobless claims in the week ending November 20, the fewest since 1969, while orders placed with U.S. factories for business equipment rose more than expected in October, indicating solid momentum for capital investment at the start of the fourth quarter. Policymakers are now focused on containing inflation, with ultra-loose, the pandemic-era stimulus set to be phased out. At the same time, investors are nervous about the resurgence of COVID-19, particularly in Europe. Oil fell slightly the day after US stockpiles increased and the announcement of a coordinated release of crude from strategic reserves. The White House announced on Tuesday that a release of 50 million barrels from its reserves in coordination with the US, China, Japan, India, the UK, and South Korea. https://preview.redd.it/7udd6kjdav181.png?width=1456&format=png&auto=webp&s=79775388a4a7b2dfeaa2e9d5b39852136eea758e ๐Ÿ•ต๏ธโ€โ™‚๏ธ I SPY TA - Wednesday Nov. 24, 2021 SPY - Recap - Nov. 24 Price Action Open: 466.06 High: 469.57 Low: 465.19 Close: 469.41 Volume: 57,130,750 https://preview.redd.it/rqxvrumlav181.png?width=1456&format=png&auto=webp&s=8078023868e7570cf1da48abd3a747c7ca07c39a SPY - Nov. 26 - Analysis Options Data Volume totals reflect options traded during the current session (11/24) Put Volume Total: 2,016,976 Call Volume Total: 1,766,057 Put/Call Volume Ratio: 1.14 Put Open Interest Total: 12,393,956 Call Open Interest Total: 6,507,557 Put/Call Open Interest Ratio: 1.90 https://preview.redd.it/efs7m6rnav181.png?width=1456&format=png&auto=webp&s=14724fa42476e9996edb08292ecc41e06a78fc13 11/26 IV: 13.77 Dvol: 0.87 465.37-473.51 Key: 470 Crossover: 468 https://preview.redd.it/03t7mulpav181.png?width=986&format=png&auto=webp&s=645a662d4c326844e1e77a08c5455a9c609a3c6a Technical Analysis - 65 min https://preview.redd.it/getajn3sav181.png?width=1386&format=png&auto=webp&s=ff2b0921fc1e5eb9456752cc2943e6a9e9be7ddb Support : 464.76 Pivot: 467.51 (current support) Resistance - 470.73 Bullish Targets: 473.55 - 475.89 - 478.31 Bearish Targets: 462.81 - 461.74 - 459.47 - 458.39 Support at 9 SMMA Bulls need to recapture 470.73 and hold by early next week. https://preview.redd.it/tfli42ytav181.png?width=1456&format=png&auto=webp&s=cc7dabb3c0ddcdaed4d5d455fd7eb1f0ce5ce276 RSI - 65 min. Bears want to break 33.9- Bulls want to see 63.35+ RSI favors Bulls https://preview.redd.it/reujvxbwav181.png?width=1456&format=png&auto=webp&s=abad5d669a22f5a4679122c16714e41acb24197f MACD - 65 min. Bullish cross Bulls looking to extend MACD line near 0 https://preview.redd.it/vf05z5hyav181.png?width=1456&format=png&auto=webp&s=37c891c69b0fba611e63bc838082a67f073e4d14 SPY - Dec. 31, 2021 https://preview.redd.it/kdlf6qv0bv181.png?width=1380&format=png&auto=webp&s=e5cc844e2b178b21faa1a7ac356324454f69e651 Range: 470.07 - 462.22 Pivot: 453.96 Bullish Targets: 481/60 - 488.27 - 496.41 - 503.71 Bearish Targets: 448.62 - 437.28 - 428.32 https://preview.redd.it/d1o8krn2bv181.png?width=1456&format=png&auto=webp&s=c3aaf736f8a3e2b54848045d4b3fe942c0d459b1 Weekly Chart Not trying to call top but when will the 9 SMMA be tested on weekly? Something to keep an eye on. Currently at 451.96 https://preview.redd.it/cawbczo5bv181.png?width=1456&format=png&auto=webp&s=39972eedfd3794c83512838c6e8d80a530715189 Need to Know Market Risk - Financial Juice OPEC Panel predicts that the SPR release will increase oversupply by 1.1 million barrels every day. Fed Minutes: Some participants preferred a slightly faster pace of reductions, resulting in an earlier conclusion to net purchases. US Consumer Spending MoM Actual 1.3% (Forecast 1%, Previous 0.6%) S&P 500 strengthened. OPEC+ weighs shift in oil policy after the US-led SPR release - Sources. OPEC+ and Gazprom are creating fake tightness in the energy markets. US GDP QoQ 2nd Estimate Actual 2.1% (Forecast 2.2%, Previous 2.0%) DXY weakened before strengthening, S&P 500 strengthened before weakening. JMMC members will meet on November 30th, OPEC on December 1st, and OPEC+ on December 2nd - 2 Sources. Scientists in South Africa and the WHO are investigating a recently discovered variety that has been reported as being quite different from prior forms. Flights from South Africa and other African countries have been banned by the United Kingdom and Israel. Two instances of the strain have been confirmed in Hong Kong. Positions: https://preview.redd.it/y0ymwmwabv181.png?width=782&format=png&auto=webp&s=01768c0eaa97b5ea10f143bf7ac7afd5ede2708d Thanks for reading, ๐ŸŒNightMan

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๐Ÿ•ต๏ธโ€โ™‚๏ธ ๐Ÿฆƒ I $SPY TA - Friday Nov. 26, 2021

Nov 26, 2021

bullish

general Analysis

[4 min Read]

โ€‹



Wednesday Nov. 24 US Market Wrap - Financial Juice

  • Stocks rose as investors ignored tapering concerns raised in the minutes of the Federal Reserve's most recent meeting. As short-end rates rose, the dollar strengthened and the yield curve flattened.
  • Following the release of the minutes, the S&P 500 rose briefly, with real estate and energy stocks leading gains. The Nasdaq 100, which is heavily weighted toward technology, outperformed major benchmarks. Trading volume has been lower than usual in the run-up to the Thanksgiving holiday in the United States.
  • The dollar index has risen to its highest level since July 2020. Despite accelerating inflation, data released earlier today showed a resilient US consumer.
  • The committee "would not hesitate to take appropriate actions to address inflation pressures," according to the Fed meeting minutes from November 2-3. Since then, inflation has risen to its highest level since 1990, prompting Fed officials to suggest that a faster pace of tapering should be discussed at the December meeting.
  • This has caused a rise in treasury yields, with the two-year yield reaching its highest level since early March 2020 and markets bringing forward bets on rate hikes.
  • Personal spending in the United States increased more than expected in October from the previous month, while a closely watched inflation measure showed the largest annual increase in three decades. Furthermore, data show that 199,000 people filed initial jobless claims in the week ending November 20, the fewest since 1969, while orders placed with U.S. factories for business equipment rose more than expected in October, indicating solid momentum for capital investment at the start of the fourth quarter.
  • Policymakers are now focused on containing inflation, with ultra-loose, the pandemic-era stimulus set to be phased out. At the same time, investors are nervous about the resurgence of COVID-19, particularly in Europe.
  • Oil fell slightly the day after US stockpiles increased and the announcement of a coordinated release of crude from strategic reserves.
  • The White House announced on Tuesday that a release of 50 million barrels from its reserves in coordination with the US, China, Japan, India, the UK, and South Korea.



๐Ÿ•ต๏ธ‍โ™‚๏ธ I SPY TA - Wednesday Nov. 24, 2021

SPY - Recap - Nov. 24

Price Action

  • Open: 466.06
  • High: 469.57
  • Low: 465.19
  • Close: 469.41
  • Volume: 57,130,750



SPY - Nov. 26 - Analysis

Options Data

Volume totals reflect options traded during the current session (11/24)

  • Put Volume Total: 2,016,976
  • Call Volume Total: 1,766,057
  • Put/Call Volume Ratio: 1.14
  • Put Open Interest Total: 12,393,956
  • Call Open Interest Total: 6,507,557
  • Put/Call Open Interest Ratio: 1.90



  • 11/26
  • IV: 13.77
  • Dvol: 0.87
  • 465.37-473.51
  • Key: 470
  • Crossover: 468



Technical Analysis - 65 min



  • Support : 464.76
  • Pivot: 467.51 (current support)
  • Resistance - 470.73
  • Bullish Targets: 473.55 - 475.89 - 478.31
  • Bearish Targets: 462.81 - 461.74 - 459.47 - 458.39
  • Support at 9 SMMA
  • Bulls need to recapture 470.73 and hold by early next week.



RSI - 65 min.

  • Bears want to break 33.9-
  • Bulls want to see 63.35+
  • RSI favors Bulls



MACD - 65 min.

  • Bullish cross
  • Bulls looking to extend
  • MACD line near 0



SPY - Dec. 31, 2021



  • Range: 470.07 - 462.22
  • Pivot: 453.96
  • Bullish Targets: 481/60 - 488.27 - 496.41 - 503.71
  • Bearish Targets: 448.62 - 437.28 - 428.32



Weekly Chart

Not trying to call top but when will the 9 SMMA be tested on weekly? Something to keep an eye on.

Currently at 451.96



Need to Know Market Risk - Financial Juice

  • OPEC Panel predicts that the SPR release will increase oversupply by 1.1 million barrels every day.
  • Fed Minutes: Some participants preferred a slightly faster pace of reductions, resulting in an earlier conclusion to net purchases.
  • US Consumer Spending MoM Actual 1.3% (Forecast 1%, Previous 0.6%) S&P 500 strengthened.
  • OPEC+ weighs shift in oil policy after the US-led SPR release - Sources.
  • OPEC+ and Gazprom are creating fake tightness in the energy markets.
  • US GDP QoQ 2nd Estimate Actual 2.1% (Forecast 2.2%, Previous 2.0%) DXY weakened before strengthening, S&P 500 strengthened before weakening.
  • JMMC members will meet on November 30th, OPEC on December 1st, and OPEC+ on December 2nd - 2 Sources.
  • Scientists in South Africa and the WHO are investigating a recently discovered variety that has been reported as being quite different from prior forms. Flights from South Africa and other African countries have been banned by the United Kingdom and Israel. Two instances of the strain have been confirmed in Hong Kong.

Positions:



Thanks for reading,

๐ŸŒNightMan

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SPY

SPDR S&P 500 ETF Trust

380.66

0.01
0.00%

Return

-18.91%
Change % Since Posting
-88.78
Change Since Posting
469.44
Price When Posted

Metrics

470.00
Target Price
9/ 10
Confidence
2-6 Months
Timeframe
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