Chart Reading

SPY stays bullish near all time highs. SPY is above every moving average. The 50 day SMA continues to slope upwards. The volatility on the average trading range continues to fall to 1.21. The MACD is under a bullish crossover. The RSI is at a bullish 64.61 with more room to run until it is

All signals still remain bullish at this point. Friday $SPY pressed new highs on good volume. With all time highs, only profit taking is putting selling pressure on the S&P 500 index with all buyers sitting on a profit here. Price is above all moving averages. With RSI at 66.57 we will not likely see

$SPY long term uptrend still in place as price is above all key moving averages. $SPY is in a short term swing trading range staying inside the price range set in the middle of July. RSI is neutral at 53.96 with room to go in either direction from here. $SPY is still under a bullish

The uptrend in $SPY remains in place with price near all time highs and very small dips in price for buying opportunities. RSI at 60.90 gives plenty of room for higher prices in the near future. Last week brought a fresh bullish MACD crossover. VIX trended down each day last week to 10.13. North Korea

The long term up trend continues to be up but the short term uptrend is under pressure as price declines under the 10 day EMA. Price has also crossed under the 50 day SMA and the next major moving average of support is at the 100 day SMA. The MACD continues under a bearish cross

A confluence of signals that come together at one time give a better odds of success than just one signal. Here are the signals I see coming together at one time to present me with a high probability buy point in the $SPY $240-$241 price range. The 100 day SMA is the key moving average

The market dynamics changed last week as $SPY lost the 10 day ema and 50 day sma shifting $SPY into a sideways market. The next key support level convergence comes near $240 as the RSI will be in the lows, the 100 day sma, and the 100 day sma. The small caps ETF $IWM has

$SPY has fallen under the 50 day and this is a warning sign that we could see more of a pullback before new highs in price. Price bounced near the oversold 35 RSI Thursday. 41.41 currently is near oversold. A return to a 30 RSI would be an ideal dip buy for a rally target

$SPY stays in an up trend with price over all moving averages. The MACD is under a bearish cross due to all this sideways action for weeks. RSI 64.20 remains near overbought and the odds here are on more sideways action. There is the potential for a pullback to the key support at the $245 break out