10 Facts About the $SPY Chart: 4/2/17
Chart Cortesy of StockChartscom
  1. The long term up trend remains in place with price over all key moving averages.
  2. Last week price broke over the 10 day EMA signaling the possibility of another leg up on the short term up trend regaining new all time highs.
  3. The MACD remains under a bearish crossover showing the slowing of upside momentum as the market has been range bound in March.
  4. The 54.55 RSI is a slightly bullish reading and $SPY has plenty of room for price to trend up to 70 RSI before becoming over bought.
  5. Two up days last week were on later volume than the two down days.
  6. VIX at 12.37 is still a very flat market with little volatility.
  7. This market is in a tight range that makes it difficult to swing trade and day trade.
  8. Buy Hold investors love this market.
  9. There is nothing more bullish than an index near striking distance of all time highs.
  10. The edge in this market remains buying the small dips in price.