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10 Fast Facts About the $SPY Chart 10/9/16
Chart courtesy of StockCharts.com
  1. This remains a range bound market inside a longer term uptrend with defined trading ranges.
  2. Long term resistance is at $218.50 long term support is at $212.
  3. Short term resistance is at $216 short term support is at $214.
  4. The $SPY has gone so flat and sideways that the 5 day ema, 10 day ema, and 21 day ema have all converged at the ame price of $215.39. This is very rare.
  5. MACD is slightly bullish but basically has gone flat.
  6. Slow Stochastics is under a bearish cross.
  7. The ATR has stayed at $1.93. Which gives $SPY about a 1% daily trading range.
  8. RSI is flat at $48.78.
  9. This is really a day traders market with the current tight range.
  10. I will be looking to buy weakness and sell strength again next week.