Chart Reading

$SPY failed to break out of all time highs last week. $SPY has gone no where for a year back to the same price levels of early 2015. $SPY is still holding over the long term the 50 day and the 200 day moving averages. RSI is near neutral at 50.32. $SPY had a reversal […]

The old darling of the last bull market Apple’s chart has lost it’s way. Apple’s only sin was to not set a new earnings record. Carl Icahn then piled on announcing he had exited his Apple stock completely today. To say this sell off is overdone is an understatement from a fundamental and technical perspective.

$SPY is bullishly above all key moving averages. The $SPY 50 day/200 day golden cross is historically bullish. The MACD is showing a bearish cross and beginning to go sideways here showing a trading range. The slow stochatistics is still under a bearish cross here. The ATR continues to decline which is bullish. The 63.62 RSI

Bullish gap up on Wednesday help support at the low of they day for the rest of the week. $SPY price is above all key moving averages showing an uptrend. The MACD almost has a bullish crossover. The Slow Stochastics has a bullish cross and is showing momentum. The ATR has begun to decline again.

$SPY is at the same price it was at in December of 2014. $SPY has simply been trading in a range for over a year with two corrections sprinkled in. The 200 day has gone flat. RSI is still bullish at 56.94 but under the 50 RSI and we could go lower. $SPY is back over the

This market has been range bound since 2014: From the 4Q ’14 till 1Q of ’16, the SPX gained a total of 0.84 points … yet moved nearly 5k points. pic.twitter.com/lCY493StBC — Ryan Detrick, CMT (@RyanDetrick) April 3, 2016 A 70.69 RSI is rare overbought level for $SPY. The odds are on going up very slowly

$SPY continues to consolidate its price action. RSI was slightly overbought but bullish at 63.75 RSI. $SPY has closed over the 10-day EMA for 28 straight trading days. This is very bullish. The 50-day SMA has started to move upward. This is bullish. $SPY is over the 200-day SMA. This is bullish. MACD is still bullish,

Bullish 66.59 RSI. Not much room to run without consolidation first. 70 RSI tends to be resistance in stock index ETFs. Price is bullish and over all key moving averages. 10 day EMA, 50 day SMA, and the 200 day SMA. The 200 day has gone flat and the 50 day SMA has started to

MACD Bullish Slow Stochastics Bullish Declining ATR Bullish Price over the 200 day SMA is Bullish for the long term trend. Price over the 10 day EMA is Bullish on the short term chart. However price is extended over 1 ATR above the 10 day. We could see a pullback to the 10 day EMA this