Chart Reading

$SPY remains in a strong uptrend. Friday’s daily candle closed lower than the open but lows were rejected again and the 10 day EMA was recovered quickly showing buying power for dips remain. Last week price began to lose the support of the 10 day EMA, this is the first sign of the uptrend slowing […]

Price remains above all key moving averages and near all time highs. Which is bullish for the trend. Price is very extended over the 50 day SMA and 200 day SMA increasing the odds for consolidation before we go much higher from here. The 10 day EMA has been price support for $SPY since February

$SPY continues in a strong uptrend with price above all moving averages both short term and long term. MACD is holding a strong bullish crossover. RSI is extremely overbought at 80.26 which is historically rare and showing that short term the market will likely consolidate at these elevated levels. Price is extended far from all

We are in one of the strongest bull markets in history. Price is above all moving averages. 78.10 RSI is extremely overbought at these price levels. The risk/reward ratio here favors a short term pullback. MACD bullish cross continues to hold. The ATR continues to decline. The 10 day EMA has held as short term

$SPY price is bullishly above all moving averages. This market since the Trump election has been ideal for trend followers and those who bought any one day pullback in price. This is a point in time on the $SPY chart that makes buy and hold investing look like the Holy Grail considering the big cap

Bullish facts: Price over all key moving averages. 10/50/200 day SMAs. Price near all time highs. All dips in price have been bought quickly. ATR is very low. Growth stocks holding above the 50 day sma. $GOOGL $AAPL $AMZN $FB Bearish facts: $SPY is still inside an 8 day trading range. $SPY is only up

This is a Guest Post by: Colibri Trader @priceinaction. This article is used here with permission and originally appeared here on ColibriTrader.com. The Most Comprehensive Article On Support and Resistance Online- Whatever your trading system is, there are important levels in every trading session that you totally should pay attention to if you are to be consistently successful. In

$SPY continues to be in a long term uptrend pressing new all time highs. $SPY broke out last week and held the gap higher to create a new trading range. Bullish MACD crossover last week. RSI stays high at 63.74 pointing to overbought short term and needing consolidation. The ATR decreased on the breakout as

$SPY remains in a long term uptrend but has made no progress to the upside since December 12th staying tightly in a range. Support is currently $225 while resistance is $228. RSI at 58.44 gives room for more upside in the short term. MACD remains under a bearish cross giving a warning of the trend failing to

$SPY has been inside a trading range since December 9th with $224 support and $227 resistance. $SPY remains in a long term uptrend. With VIX at 11.23 we are in a very low volatility market making it difficult to make money swing trading or trend trading. This is a day traders market. Historically volatility can’t get much