(SPY) Pivots Trading Plans and Risk Controls

September 16, 2024, 09:42 am ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPY

• Buy SPY slightly over 546.02 target 566.33 stop loss @ 544.44 Details

The technical summary data tells us to buy SPY near 546.02 with an upside target of 566.33. This data also tells us to set a stop loss @ 544.44 to protect against excessive loss in case the stock begins to move against the trade. 546.02 is the first level of support below 560.94 , and by rule, any test of support is a buy signal. In this case, support 546.02 would be being tested, so a buy signal would exist.

• Short SPY slightly under 566.33, target 546.02, stop loss @ 567.97 Details

The technical summary data is suggesting a short of SPY as it gets near 566.33 with a downside target of 546.02. We should have a stop loss in place at 567.97though. 566.33 is the first level of resistance above 560.94, and by rule, any test of resistance is a short signal. In this case, if resistance 566.33 is being tested, so a short signal would exist.

Swing Trading Plans for SPY

• Buy SPY slightly over 566.33, target 583.98, Stop Loss @ 564.69 Details

If 566.33 begins to break higher, the technical summary data tells us to buy SPY just slightly over 566.33, with an upside target of 583.98. The data also tells us to set a stop loss @ 564.69 in case the stock turns against the trade. 566.33 is the first level of resistance above 560.94, and by rule, any break above resistance is a buy signal. In this case, 566.33, 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 566.33, target 557.06, Stop Loss @ 567.97. Details

The technical summary data is suggesting a short of SPY if it tests 566.33 with a downside target of 557.06. We should have a stop loss in place at 567.97 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, 566.33, 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 565.36, target 566.33, Stop Loss @ 564.04 Details

If 565.36 begins to break higher, the technical summary data tells us to buy SPY just slightly over 565.36, with an upside target of 566.33. The data also tells us to set a stop loss @ 564.04 in case the stock turns against the trade. 565.36 is the first level of resistance above 560.94, and by rule, any break above resistance is a buy signal. In this case, 565.36, 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 565.36, target 558.83, Stop Loss @ 566.68. Details

The technical summary data is suggesting a short of SPY if it tests 565.36 with a downside target of 558.83. We should have a stop loss in place at 566.68 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, 565.36, 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 S&p 500 Etf Trust Etf (SPY) available here: SPY.

SPY Ratings for September 16:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	546.02
P2	558.83	542.44	566.33
P3	565.36	557.06	583.98

AI Generated Signals for SPY

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This S&p 500 Etf Trust Etf (NYSE: SPY) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SPY change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SPY is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for SPY too.  All of these are offered below the Summary Table.