$SPY has been inside a trading range since February 14, 2017.
$SPY up trend is still on place with all long term moving averages still turning up.
Short term moving averages are turning sideways inside this trading range.
All small dips continue to be bought.
The overnight 100 point Dow futures drop recovered Friday. When the market does not go down on headline risk it is very bullish.
A 51.34 RSI is neutral. I would be a buyer under a 35 RSI.
The MACD continues to be under a bearish cross showing the loss of momentum.
The trading range continues to increase but the market is staying in a very tight daily trading range.
A VIX at 12.87 is very flat and has been for months.
I am looking to buy any decent dips in price or buy a 10 day/ 50 day EMA crossover which would require a dip first to reset this momentum signal. I will stay neutral until something happens to break this range up or down or a get a buyable dip in price
