$SPY Chart: 10 Facts 12/7/14


  1. $SPY has been in a $205 support and $208.50 resistance trading range for two weeks.
  2. For the past  seven out of ten days $SPY has closed lower than it opened. This is a sign of distribution.
  3. A bearish MACD crossover is signaling a leveling out in the up trend and a loss of momentum.
  4. The 68.82 RSI is a historically overbought area with a very limited  up side trending potential without more consolidation.
  5.  The 10 day sma is being lost as secondary intra-day support.
  6. $SPY currently has little volatility and an expansion in volatility will be a signal for the beginning of a possible pull back.
  7. Put option sellers have been very profitable since the bounce under the 30 RSI at the bottom. This is still a system in favor with the lack of any weakness in price action.
  8. I would have a signal to sell bearish credit spreads on $SPY due to the great probabilities with a move over the 70 RSI intraday.
  9. Alpha Capture Weekend review
  10. It’s An Option Buyer’s Market