10 Fast Facts About the Market: $SPY 5/17/15

10 Fast Facts About the $SPY Chart: 5/17/15

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 old resistance level at $211.35, but ran into resistance … [Read more...]

$SPY Chart Into Resistance: 5/10/15


  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 still has a bearish reading. RSI is at … [Read more...]

Tradeshark Software Review: Jack Schwagers Technical Trading Tools

Jack Schwager has personally interviewed the greatest traders of our time. He has published several timeless classics, among them my favorite trading book of all time "Market Wizards". I was thrilled when I heard that Mr. Schwager had developed his own technical indicators, and they were available through TradeShark.com. TradeShark was generous enough to set me up on their … [Read more...]

10 $SPY Chart Facts: 5/3/15


  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 short as they approached the 70 RSI has … [Read more...]

10 Fast Facts: $SPY Chart 4/26/15


 $SPY broke out of the adjusted for dividends chart on Friday and very close to unadjusted  all time highs. The MACD is bullish. $SPY held the 50 day line all week. $SPY has begun to show momentum by closing above the 5 day ema for five straight days. A 60 RSI has $SPY on the bullish side of the RSI and with some room to run higher. For five straight days $SPY has … [Read more...]