10 Facts about the $SPY Chart: 5/28/17

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10 Facts about the $SPY Chart: 5/28/17
10 Facts about the $SPY Chart: 5/28/17
Chart courtesy of StockCharts.com
  1. $SPY is bullishly at new all time highs here.
  2. The trading range tightened last week in this slow up trend which continues to make day trading and swing trading difficult.
  3. Volatility crashed last week back to a 9.81 $VIX.
  4. The MACD is back under a bullish crossover.
  5. RSI has room to go higher with reading of 63.56.
  6. Financials and energy sectors need to rally to help boost $SPY to higher prices.
  7. Technology has been the leader in this bull market.
  8. Last week’s rally to higher prices was on decreasing volume.
  9. Buying every small dip in price and holding long are working in this market.
  10. This market is not very deep with the FAANG stocks contributing the majority of the gains in the SPY ETF due to their weighting.

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