Blue Skies for Bulls: $SPY Chart 8/26/18

Chart Courtesy of StockCharts.com

1. $SPY is at all time highs in price. This is the most bullish signal as historically all time highs beget new all time highs.
2. $SPY price is over all moving averages.
3. $SPY has a bullish crossover on all moving average crossover systems.
4. MACD is under a bullish crossover.
5. There is room for price to run higher before becoming overbought with a RSI at 64.90.
6. The average true range (ATR) dropped to 1.99 last week as the tight trading range continues.
7. $VIX fell to a low of 11.99 last week on lower highs and lower lows.
8. $SPY had higher volume on most up days and lower volume on down days last week.
9. The stock market is in a bull market as all indexes are pressing all time highs.
10. The majority of leading stocks continue to press new all time highs.