Click here to get a PDF of this post

10 Facts about the $SPY Chart: 8/20/17

  1. The market dynamics changed last week as $SPY lost the 10 day ema and 50 day sma shifting $SPY into a sideways market.
  2. The next key support level convergence comes near $240 as the RSI will be in the lows, the 100 day sma, and the 100 day sma.
  3. The small caps ETF $IWM has begun a downtrend under the 200 day while big caps have held up much better.
  4. MACD is still under a bearish cross.
  5. RSI is at 38.44 with room to become more oversold to the 30 RSI.
  6. The average trading range continues to increase.
  7. $VIX continues to increase at 14.26. $VIX 15-17 has been a good zone to buy dips in.
  8. Energy sector continues to trend down .
  9. Leading stocks are still holding up in ranges. $FB $AMZN $AAPL $NFLX $GOOGL
  10. I am looking to buy more of a dip here. My only position is currently $TNA.