Learn to Evaluate Spdr S&p 500 ($SPY) using the Charts

November 01, 2023, 06:45 am ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPY

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short SPY slightly under 427.36, target n/a, stop loss @ 428.59 Details

The technical summary data is suggesting a short of SPY as it gets near 427.36, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 428.59. 427.36 is the first level of resistance above 417, and by rule, any test of resistance is a short signal. In this case, if resistance 427.36 is being tested, so a short signal would exist.

Swing Trading Plans for SPY

• Buy SPY slightly over 427.36, target 444.88, Stop Loss @ 426.13 Details

If 427.36 begins to break higher, the technical summary data tells us to buy SPY just slightly over 427.36, with an upside target of 444.88. The data also tells us to set a stop loss @ 426.13 in case the stock turns against the trade. 427.36 is the first level of resistance above 417, and by rule, any break above resistance is a buy signal. In this case, 427.36, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SPY slightly near 427.36, target 413.66, Stop Loss @ 428.59. Details

The technical summary data is suggesting a short of SPY if it tests 427.36 with a downside target of 413.66. We should have a stop loss in place at 428.59 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 427.36, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SPY

• Buy SPY slightly over 427.36, target 444.88, Stop Loss @ 426.36 Details

If 427.36 begins to break higher, the technical summary data tells us to buy SPY just slightly over 427.36, with an upside target of 444.88. The data also tells us to set a stop loss @ 426.36 in case the stock turns against the trade. 427.36 is the first level of resistance above 417, and by rule, any break above resistance is a buy signal. In this case, 427.36, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SPY slightly near 427.36, target 416.92, Stop Loss @ 428.36. Details

The technical summary data is suggesting a short of SPY if it tests 427.36 with a downside target of 416.92. We should have a stop loss in place at 428.36 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 427.36, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Spdr S&p 500 (SPY) available here: SPY.

SPY Ratings for November 01:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	427.36
P2	411.20	406.44	444.88
P3	416.92	413.66	461.90

AI Generated Signals for SPY

Real Time Updates for Repeat Institutional Readers:

• Factset: Request User/Pass
• Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.

Instructions:

• Click the Get Real Time Updates button below.

• In the login prompt, select forgot username

• Type the email you use for Factset

• Use the user/pass you receive to login

• You will have 24/7 access to real time updates.

From then on you can just click to get the real time update whenever you want.

GET REAL TIME UPDATES

Market Crash Leading Indicator

Our Market Crash Leading Indicator isEvitar Corte.

• Evitar Corte warned of market crash risk four times since 2000.

• It identified the Internet Debacle before it happened.

• It identified the Credit Crisis before it happened.

• It identified the Corona Crash too.

• See what Evitar Corte is Saying Now.

Get Notified When our Ratings Change:Take a Trial

When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Spdr S&p 500 (NYSE: SPY) report below can help you understand how to do this. The trading plans for SPY, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.