Stuck $SPY Chart 9/4/16

Stuck $SPY Chart 9/4/16
Stuck $SPY Chart 9/4/16
Chart courtesy of
  1. $SPY continues to press all time highs which is bullish.
  2. With this price range buying the dip has been a more profitable trading strategy than buying momentum.
  3. Price is back over the 10 day EMA which is bullish.
  4. The 50 day SMA continues to be bullish and ascending.
  5. Slow Stochastics is neutral short term.
  6. The ATR has bottomed and is starting to expand. We may see a higher trading range next week.
  7. MACD continues to stay under a bearish crossover as the $SPY has lost momentum and started to go sideways.
  8. $XLF has a bullish chart which could be a good bullish indicator for $SPY.
  9. $IYT has a bullish chart that could be a leading indicator for $SPY.
  10. Volume has become about the same on both up and down days.

I am looking to buy dips in price next week and trading this range as the market is still leaning bullish.