$SPY Chart: All Bulls, No Bears 6/17/18

Chart Courtesy of StockCharts.com

  1. The 10 day ema was lost Friday but recovered by end of day to keep the short term uptrend in place.
  2. All moving average crossover signals are bullish with all short term moving averages over all long term moving averages.
  3. The short term trading range is $275.38 support with $278.23 resistance.
  4. Previous resistance at $278 held last week.
  5. The long term resistance remains at all time highs at $284.
  6. The ascending 200 day SMA is bullish and has held as long term support.
  7. The RSI is at 63.76 with room to run higher but 70 RSI is holding as resistance as price forms a price base.
  8. The MACD remains under a bullish crossover.
  9. The average true range continues to decline as price consolidates.
  10. VIX stayed in a low range last week closing at 11.98.
  11. The China tariff news failed to keep the market down, when the market fails to fall on bad news it is bullish.
  12. A price close under the 10 day ema or 50 day ema changes the bullish bias here short term.

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