Click here to get a PDF of this post

10 Fast $SPY Chart Facts: 7/23/17
Chart Courtesy of StockCharts.com
  1. $SPY remains in a strong up trend and pressing new all time highs in price.
  2. $SPY is above all moving averages.
  3. $SPY is under a bullish MACD crossover.
  4. The 66.61 RSI does not leave much room for upside without being overbought. Odds are next week will be a consolidation in $SPY as tech reports earnings. $QQQ may be the mover that tends to be able to become more overbought.
  5. The trading range declined last week as measured by the ATR. This is bullish.
  6. Fridays small dip was bought on high volume.
  7. $SPY went up last week on decreasing volume.
  8. VIX at 9.36 is near the lowest volatility reading in the past 10 years. This makes for very cheap put options.
  9. The best strategy here on $SPY remains to buy the dips not chase prices into overbought areas.
  10. Huge big cap earnings next week that will direct the next trend or pullback: