- $SPY is bullishly at new all time highs here.
- The trading range tightened last week in this slow up trend which continues to make day trading and swing trading difficult.
- Volatility crashed last week back to a 9.81 $VIX.
- The MACD is back under a bullish crossover.
- RSI has room to go higher with reading of 63.56.
- Financials and energy sectors need to rally to help boost $SPY to higher prices.
- Technology has been the leader in this bull market.
- Last week’s rally to higher prices was on decreasing volume.
- Buying every small dip in price and holding long are working in this market.
- This market is not very deep with the FAANG stocks contributing the majority of the gains in the SPY ETF due to their weighting.
Equal weight S&P 500 continues to make lower lows relative to cap weighted $SPX pic.twitter.com/tHu7rz0Ia8
— Andrew Thrasher, CMT (@AndrewThrasher) May 26, 2017