Chart Reading

The last two weeks has had very fast price action in both directions. Moves that use to take weeks now takes days. Last week was up on good volume comparative to normal daily volume. Last week $SPY recovered from one of the quickest corrections in history as price closed back over all key moving averages. […]

The bull market is still in place but shaky as volatility expands and long term support levels are tested. $SPY bounced off the 200 day SMA Friday. S&P 500 futures bounced near the 200 day SMA overnight last week. The 200 day SMA is the current key support level. A close below this level opens

There were many warning signs last week pointing to us having more of a pullback here. Last week $SPY had serious profit taking and failed to make new all time highs. A pullback was very over due after this amazing run higher and not a cause for concern yet. A little lower could present dip

New all time highs in price continue as selling pressure was absent last week. Every signal is currently bullish on the $SPY chart. The bullish MACD crossover worked out for another great up swing in price. The Average True Range at 1.96 is the highest ATR since the November 2016 U.S. presidential election showing a

$SPY is extremely bullish near all time highs. New highs were made on increasing volume. Price has spent over 40 days closing over the 10 day ema. Very bullish momentum signal RSI remains parabolic overbought at 81.21. Since the U.S. election RSI over 70 has been a momentum signal. The $SPY chart remains under a

$SPY continues to make new all time highs in price. This is the most bullish signal. The average true trading range continues to expand but the move is all to the upside. MACD remains under a bullish crossover. 39 straight trading days with a price close over the 10 day EMA. This is incredible strength

$SPY continues to press higher to new all time highs. the most bullish signal as all people holding $SPY are sitting on a profit. No stop losses are trailing stops are hit at all time highs, the only selling pressure is profit taking while short sellers are pressured to buy to cover. The 10 day

$SPY remains bullish as price is near all time highs put some warning signs for a pullback are starting to emerge. The 10 day SMA has acted as end of day support for 30 straight trading days. Closing below this line will be a danger signal for bulls. Friday’s down day was the highest volume

$SPY continues to make new all time highs. No more bullish signal than all time highs. The 10 day EMA has been the end of the day support since November 16th. This shows a market with momentum. The chart remains under a MACD bullish crossover. $SPY broke out to new highs in price with the