10 Signals on the $SPY Chart
- 1.$SPY is at all time highs, there is no greater bullish signal than this the majority of the time.
- 2.Friday made new all time highs on good volume.
- 3.$SPY price is in an up trend and over every moving average.
- 4.Near term support in$254.
- 5.Last weeks dips were bought very quickly intra-day showing eager buyers.
- 6.RSI is overbought at 71.32. This has been a bullish signal since the U.S. presidential election as overbought has become more overbought with little pullbacks.
- 7.The average trading range has been expanding over the last two weeks.
- 8.$VIX plunged back lower last week to 9.80 showing a lack of fear for a crash lower.
- 9MACD is under a bearish crossover due to the recent sideways action in October.
- 10.Earnings started well last week with $AMZN, $GOOGL, and $MSFT leading the way in the tech sector and benefitting $SPY.
I am still currently long $QLD, $UWM, and bought $TSLA Friday near the 30 RSI / 200 day SMA dip in price.
I have spent a considerable time studying your strategies and i would like to share with everyone what i have taken and now apply to my trading. Any currency pair can be traded Indicators: 5,10,20 EMAs - RSI - MACD Time frame: I use 15min charts (I find bigger time frames to slow and bigger stops) Entry rules: On an down trend wait for a higher low.Find a 1-2-3 setupEnter long just below 2 with stops just under 3RSI MUST be above 50MACD must be or just about to cross over. Exit rules: Once you have reached to same distance as risked close out.
Stocks are an asset class of investments where you buy a share of ownership in a publicly traded company. Stocks are equity in a company. Shares trade on stock exchanges through market makers and executed for investors through a stock broker. How do you invest in stocks? Decide you want to own stocks. Understand the risks and rewards possible in the stock market. Research the price action history of the stock indexes and individual stocks. Choose a time frame for stock ownership. Decide what type of investor or trader you want to be. Value or growth investor, day trader, swing trader, trend follower etc. Sign up for a charting service. Open an account with a stock broker (or a 401K account at your job). Transfer money into the account. Choose if you want a margin account with your broker. Be aware that there can be commission costs for each buy and sell you make along with account fees. Decide if you want to invest or trade in individual stocks, exchange traded funds, mutual funds or a combination of these. Add money into your account on a regular basis. Focus on growing your capital and allowing the returns to compound. Be sure to file taxes on your account each year whether you make or lose money. This is an overall basic outline of what you need to know to start buying and selling stocks, this is a good starting place for new investors and traders and then drill down and research the answers for yourself.
This strategy requires you to use discretion trading it. It’s not automated and itdoesn’t “tell” you when to buy or sell.However, as you will see, our rules for trading are easy-to-follow and fairlystrict – so this really limits the amount of decision-making required.If you’ve got a profitable trading strategy then, as long as you’re not silly withyour risk, money-management is very simple.In fact, money management is very simple; it just requires a little commonsense and doing to what to successful traders do.What do successful traders risk per trade? It’s pretty much in the 1 or 2percent area. Risk that amount of your capital per trade and you won’t haveany sleepless nights.