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πŸ•΅οΈβ€β™‚οΈ I SPY TA – Monday Nov. 22, 2021

πŸ•΅οΈβ€β™‚οΈ I SPY TA - Monday Nov. 22, 2021

https://preview.redd.it/qryw9wwvks081.png?width=2240&format=png&auto=webp&s=76cdc5664673768bf0fa0bf8a15dc43208d91989

Nov. 19 – US Market Wrap – Financial Juice

  • Stocks declined as a result of aggressive comments from Federal Reserve officials and growing anxiety that a new wave of the pandemic in Europe could prompt more lockdowns.
  • Companies that are economically sensitive, such as oil, banking, and industrial stocks, have fallen, while the technology-heavy Nasdaq 100 has outperformed major benchmarks.
  • The treasury curve flattened after two members of the Federal Reserve's board of directors suggested that, in light of strong economic growth and increasing inflation, the Fed may need to consider speeding up the reduction of its bond-buying program. The dollar increased.
  • While stock prices are approaching all-time highs, bolstered by strong earnings, a viral comeback may halt the economic recovery at a time when inflation is at an all-time high.
  • Austria was the first country in Western Europe to adopt sweeping restrictions. Non-essential businesses were also closed in areas of Germany, and the Netherlands had previously ordered shops and bars to close early.
  • Biden's centrepiece plan to extend the social safety net, confront climate change, and reform tax policies passed the House of Representatives on Friday morning, with House Rep. Speaker Pelosi uniting divided Democrats to send the bill to the Senate, where its fate remains uncertain.

https://preview.redd.it/4kgv9zvxks081.png?width=1405&format=png&auto=webp&s=f58461e0bebc1049ec60ceefb37b144b3cf6cf0a

πŸ•΅οΈβ€β™‚οΈ I SPY TA – Friday Nov. 19, 2021

SPY – SPY Recap – Nov. 19

Price Action

  • Open: 469.61
  • High: 470.94
  • Low: 468.51
  • Close: 468.86
  • Volume: 51,165,359

https://preview.redd.it/uemnaj4cls081.png?width=1456&format=png&auto=webp&s=c24b9d3eea56b2f1d7e75155290ef29c36ecbe75

SPY – Nov. 22 – Analysis

Options Data

Volume totals reflect options traded during the current session (11/19)

  • Put Volume Total: 2,062,262
  • Call Volume Total: 1,504,125
  • Put/Call Volume Ratio: 1.37
  • Put Open Interest Total: 14,345,570
  • Call Open Interest Total: 7,265,739
  • Put/Call Open Interest Ratio: 1.97

https://preview.redd.it/u4nxcwcfls081.png?width=1156&format=png&auto=webp&s=a5d2c393f1c195cedeb6876e4134152bdd5d08a2

  • V: 13.62
  • Dvol: 0.86
  • 465.07 – 473.11
  • Key 473
  • Crossover: 468

https://preview.redd.it/4d2rffghls081.png?width=736&format=png&auto=webp&s=465c0deb130212ebbc41098a488a1f7b7d2a5fb5

Technical Analysis – 30 min.

https://preview.redd.it/e2clo0qjls081.png?width=891&format=png&auto=webp&s=24f98c079ffd195cab03e6b34c842f096c904c29

  • Support : 467.76
  • Pivot: 468.86 (Current Support)
  • Resistance – 471 – 470.49
  • Bullish Targets: 472.35 – 474.68
  • Bearish Targets: 466.67 – 464.21 – 463
  • Consolidating around 20 SMMA
  • Near bottom of uptrend support
  • Bulls not being able to find support above 471 is concerning

https://preview.redd.it/ipejpkhlls081.png?width=1456&format=png&auto=webp&s=cb9650f67c620015cc7ac4e298b96892e55ce3a8

RSI – 65 min.

  • Essentially consolidating since Nov. 17
  • Look for a 60.60 break for ATH
  • Look for 45.35 break for more downside
  • Neutral

https://preview.redd.it/t1zxglgnls081.png?width=1456&format=png&auto=webp&s=66e2f632c583c813602ef073ec5e42fc90d54281

MACD – 65 min.

  • Consolidated
  • Bearish cross
  • Slight advantage to bears

https://preview.redd.it/pyvoknfpls081.png?width=1456&format=png&auto=webp&s=bbbc91a39c035519a72a34342c4ffd22c7b4f19c

DMI – 1 day

  • Uptrend slightly weakened from Nov. 5
  • Bulls like to see +Di (blue) to 36.2367 – 41.9097
  • Bears like to see -DI (orange) to 21.649+
  • Advantage to bulls until -DI (orange) crosses 21.649

https://preview.redd.it/na75g8arls081.png?width=1456&format=png&auto=webp&s=58fc73c35f6f8859a15321b89ebb3c6b369faf51

SPY – Jan. 21, 2022 – 65 min.

https://preview.redd.it/glysb7vuls081.png?width=889&format=png&auto=webp&s=d981e0dfd078ddf4d109c4949e6cea5e383c2f6e

  • Support: 462.53
  • Resistance: 470.59
  • Bullish Target: 481.57 – 490.73 – 496.85 – 503.51
  • Bearish Targets: 453.85 – 448.56 – 437.23 – 429.83
  • About 6 touches since Nov. 5 @ 470.59 ish
  • At median of parallel channel
  • If bulls can establish support above R1 I believe we can see 481.57 – 490.73 before Jan. 21 exp.
  • I will begin to worry about a downturn if we cross 462.53.
    • If 462.53 breaks I’m looking for a bottom at 453.85 – 448.56

https://preview.redd.it/0nfqor39ps081.png?width=1456&format=png&auto=webp&s=2a511c958553ab021afc9b91c05dc23dbfbb9e41

Need to Know Market Risk – Financial Juice

  • WH Press Sec. Psaki: OPEC should meet current demand and secure enough supply.
  • Fed's Clarida: It may be acceptable to explore speeding taper at the December meeting. (DXY strengthened, S&P 500 and Gold weakened)
  • Fed's Waller: On employment increases and inflation, I favour a faster taper.
  • Fed's Waller: The increase in inflation expectations is extremely concerning.

Positions:

https://preview.redd.it/47omlmq2ms081.png?width=757&format=png&auto=webp&s=6be8feb1161cc85a2430538ede9fdbc7725e760f

Thanks for reading,

🌝NightMan

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