10 Facts About the $SPY Chart 6/28/15

spy2015

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 possibility of a total market correction. $XLI is under the crucial 200 … [Read more...]

10 Fast Facts About the $SPY Chart: 6/21/15

spy2015

 $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 and trend. AT a 53.66 RSI, this market is still in a neutral zone for the … [Read more...]

10 Facts about the $SPY Chart 6/14/15

spy2015

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 accumulated, they … [Read more...]

10 Facts About the $SPY Chart: 6/7/15

spy2015

                       $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 … [Read more...]

10 Facts about the $SPY Chart: 5/31/15

10 Facts about the $SPY Chart

$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 little momentum, and is slightly bearish. MACD crossover Thursday … [Read more...]