Stocks Still Strong
The technical analysis for SPY is very strong. We see many indications of a strong bull trend. It would be wise to buy on a dip.
The current price of SPY is $290.32.
We will find resistance from levels from above including the following:
291.74 from highs and lows over the past 14 periods
Levels from below will provide support, including:
289.60 from volume profile over the past 14 periods
288.44 from volume profile over the past 30 periods
286.76 from volume profile over the past 14 periods
285.97 from volume profile over the past 30 periods
283.73 from volume profile over the past 100 periods
283.03 from volume profile
281.28 from volume profile over the past 100 periods
279.88 from volume profile
278.77 from volume profile
278.01 from volume profile over the past 100 periods
The technicals for SPY are as follows. Volatility has consolidated quite a bit, expect a breakout soon. The RSI is 68, which suggests that we are in a bull trend, but not overbought. The MACD is above the signal line, suggesting the bull phase may continue. SPY is well above the 50 period SMA, which is 281 at the moment, suggesting that we are overbought. Further, SPY is substantially above the 100 period SMA, which is at 276. This indicates that SPY is overbought. Finally, the 50 period SMA is above the 100 period SMA, indicating longer term bullish confirmation. The ADX indicator shows a bull trend.
We are above the central moving average of the Kovach Reversals Indicator at 285, but getting closer to the upper bound of this indicator at 291. Watch for resistance at this level.
Bull score: 8, bear score: 0, ranging score: 0
The current price of SPY is $290.32.
We will find resistance from levels from above including the following:
291.74 from highs and lows over the past 14 periods
Levels from below will provide support, including:
289.60 from volume profile over the past 14 periods
288.44 from volume profile over the past 30 periods
286.76 from volume profile over the past 14 periods
285.97 from volume profile over the past 30 periods
283.73 from volume profile over the past 100 periods
283.03 from volume profile
281.28 from volume profile over the past 100 periods
279.88 from volume profile
278.77 from volume profile
278.01 from volume profile over the past 100 periods
The technicals for SPY are as follows. Volatility has consolidated quite a bit, expect a breakout soon. The RSI is 68, which suggests that we are in a bull trend, but not overbought. The MACD is above the signal line, suggesting the bull phase may continue. SPY is well above the 50 period SMA, which is 281 at the moment, suggesting that we are overbought. Further, SPY is substantially above the 100 period SMA, which is at 276. This indicates that SPY is overbought. Finally, the 50 period SMA is above the 100 period SMA, indicating longer term bullish confirmation. The ADX indicator shows a bull trend.
We are above the central moving average of the Kovach Reversals Indicator at 285, but getting closer to the upper bound of this indicator at 291. Watch for resistance at this level.
Bull score: 8, bear score: 0, ranging score: 0
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