Chart Reading

The long term resistance line held last week at $212.75. This is still a range bound stock market in 2015, with a 2.08% year-to-date return in $SPY. Many of the stock market sectors are no longer trending up, but are caught in the 30-50 RSI range. This is a warning of potential distribution, and the […]

 $SPY ran into one of the key  2015 resistance levels at $211.55 Friday. The stock market is still range-bound, with a 2.56% $SPY return in 2015. For the last two months, the dip buying zone has been $207 on $SPY. This market continues to be a swing trader’s market, with a lack of a breakout

2015 is a range-bound year for equities, with $SPY returns sitting at 3.18%. In range-bound markets, horizontal trend lines that define support and resistance are more desirable than vertical, slanting trend lines. Moving averages are for identifying support and resistance, not trends in this type of environment. Stocks as an asset class are not being

                       $SPY is currently range-bound between $208 and all-time highs. The RSI is showing short term distribution at 44.61. The MACD is still indicating distribution after the bearish crossover and downward trend. The high probability buy point is at the alignment of the  $208 price/

$SPY ran into resistance Friday, May 22nd and reversed. $SPY spent all last week under, or being rejected at the key secondary resistance level of $212.70. Near term support is at $210.75, but it’s soft and has been penetrated easily. The next level of support is the 50 day SMA. The RSI at 49.91 shows

 $SPY’s  new resistance is at the all time highs of $213.75. The price level support is at $212.50, a close below this level is one sign of the start of a reversal. The near term key moving average support is at the 5 day ema, which shows that we have momentum. We have not closed

Chart Courtesy of StockCharts.com   2015 has been the year of tight price consolidation. $SPY is up 3.36% year to date, making it difficult for index traders to trade the tight range. Dips are not deep enough, and momentum signals have not worked as strength has been sold. $SPY was able to finally clear an

  The $SPY return for 2015 year-to-date is 2.96%; this is a range bound market. For the past four months, $SPY support has been $203.50 with $212.50 as resistance. $SPY closed above long term resistance on Friday for the first time. However, momentum breakout signals have low success rates in range bound markets. The MACD

  Over the past four months, $SPY has primarily been in a $203.50 support and $212.00 resistance price range. $SPY is only up 2.52% year-to-date, which creates little room for trend trading or swing trading. This year’s gains in $SPY have come from buying the deep dips and selling into strength. Selling stock index ETFs