- $SPY is at all time highs, there is no greater bullish signal than this the majority of the time.
- Friday made new all time highs on good volume.
- $SPY price is in an up trend and over every moving average.
- Near term support in$254.
- Last weeks dips were bought very quickly intra-day showing eager buyers.
- RSI is overbought at 71.32. This has been a bullish signal since the U.S. presidential election as overbought has become more overbought with little pullbacks.
- The average trading range has been expanding over the last two weeks.
- $VIX plunged back lower last week to 9.80 showing a lack of fear for a crash lower.
- MACD is under a bearish crossover due to the recent sideways action in October.
- Earnings started well last week with $AMZN, $GOOGL, and $MSFT leading the way in the tech sector and benefitting $SPY.
I am still currently long $QLD, $UWM, and bought $TSLA Friday near the 30 RSI / 200 day SMA dip in price.