10 Bullish Signals on the $SPY Chart: 5/20/18

10 Bullish Signals on the $SPY Chart: 5/20/18
Chart Courtesy of StockCharts.com
  1. Price is above all key moving averages.
  2. The 10 day / 50 day EMA is under a bullish crossover.
  3. Last week $SPY traded in a range with $274 as resistance and $270 as support.
  4. RSI is bullish with room to go higher at 57.32 before becoming overbought.
  5. MACD remains with a bullish crossover.
  6. The Average True Range continues to decline to 2.95. Declining volatility is bullish.
  7. Volume was low but steady last week.
  8. $VIX closed low at 13.42 and remained steady last week.
  9. The energy sector is currently the leading sector. $XLE
  10. Small caps are at all time highs and leading the stock market higher. $IWM