Chart Reading

All time highs continue to be resistance. Upward momentum continues to be faded in this market. This is not an uptrend or a downtrend, the market is simply going sideways in a range. The market has a very narrow trading range currently only very quick trades are profitable. Trend traders are not making money in

We are currently in a range bound market. Long term resistance remains at all time highs. $210 is a key price support level as it was resistance at the beginning of the year. The 100 day EMA has provided a key support level since September. $SPY has closed under the 10 day EMA 8 of

Through mid-September the $SPY average true range of prices have stayed steady. However the range has stayed so tight it is difficult for trend traders, swing traders, and even day traders to catch much of  move in any direction. Buy and hold investors are up 7.74% year to date but had to sit through a

This remains a range bound market inside a longer term uptrend with defined trading ranges. Long term resistance is at $218.50 long term support is at $212. Short term resistance is at $216 short term support is at $214. The $SPY has gone so flat and sideways that the 5 day ema, 10 day ema, and

The rallies felt very strong late last week but they were only inside the recent trading range. The price last Thursday seemed to fall hard but it was well inside the near term trading range. $218.50 has been $SPY resistance since August 15th 2016. $211.25 has been $SPY support since the July 18th 2016 breakout

SPX continues in a range with resistance holding at 2200 and support at 2120. SPX new all time highs stays within striking distance and is still possible in coming weeks. The SPX 100 day SMA held as key support during the last plunge. The SPX MACD finally had its first bullish crossover since June. Slow Stochastics maintains a

I am using the $SPX chart this week due to the skew of the quarterly dividend payout Friday on the adjusted price. It is also possible to see the unadjusted $SPY price by using the ticker _SPY on stockcharts.com. $SPX is trading in a price range of 2120 support and 2150 resistance. The 10 day

Chart Courtesy of StockCharts.com Bulls decided to exit the market Friday in mass on the highest volume since the two day Brexit move. There was no bounce, it was a gap down morning that never looked back. This move Friday was unprecedented for its speed and duration from what looked like a strong market. “Friday was the

$SPY continues to press all time highs which is bullish. With this price range buying the dip has been a more profitable trading strategy than buying momentum. Price is back over the 10 day EMA which is bullish. The 50 day SMA continues to be bullish and ascending. Slow Stochastics is neutral short term. The