SPY Charts and some Technical Analysis News to keep in mind Today - Today's Economic Calendar - The Charts - Opinion & Stock Picks. Previous market day....End of Day Brief....(click here)... Dow -915.39 at 21636.84, Nasdaq -295.16 at 7501.73, S&P -88.60 at 2541.47 News to keep in mind Monday morning: Futures trade vs fair value were trading a bit lower late last night.So have we finally hit a bottom? Still unpredictable! But we mark SPY 240 as support now.Dow -310, S&P -33, Nasdaq -60, Russell -1.The biggest factors in the market right now are; Coronavirus headlines, the Fed, the Oil price war, the Global Economy and Global Geopolitical conflicts.Keeping an eye on the VIX - the CBOE Volatility Index is spiking due to virus fear and fear of economic fallout due to the virus. When the Vix peaks, the market bottoms. Today's Economic Calendar: 10:00 AM ET, Pending Home Sales Index for February. The consensus is for a 1.0% decrease in the index.10:30 AM, Dallas Fed Survey of Manufacturing Activity for March. This is the last of the regional surveys for March. THE CHARTS: (NOTE: Charts are a good guide but when a tweet or news item can jerk the markets around, they mean a bit less.) The markets has a down day on Friday. But, the markets did end up for the week and one of our support levels has actually held. SPY 240 is listed here as support now. Remain cautious as the Vix remained high even during the latest rally. What we need in order to make a bottom is 2 days in a row or more of gains (We got this) and for the Vix to start coming down *(We have NOT gotten this). Also bottoms are found when there is little market reaction to negative news. So we have a half a bottom and are now thinking there is a possibility that it will hold up. BUT... Virus fear or panic will keep this scenario at risk. * Still Not much new to say with our charts for awhile, until some sort of SANITY returns to the markets. So for now the market will be a casino like environment, fairly close to outright gambling. Don't hold your breath waiting for a support level to be found or to hold. But be ready to make some trades when it does. IF wanting to gamble: Options trades on these ETFs will give you a way to place your bets. $TQQQ - $SQQQ - $SPXL - $SPXS CHANGES: The MACD continues to be negative, BUT did an up crossover (positive).Our 240 Support level is holding so far.The Money Flow has improved to a neutral from a negative. POSITIVES: We are still oversold.The MACD maybe bottoming.Not technical - BUT it appears the Chinese are going back to work.The Money Flow has gotten up to neutral. NEGATIVES: The MACD is declining.We are under the 50-day moving average.The 50-day moving average is declining.We are under the 200-day moving averageThe Vix remains high.OPINION & STOCKS: Short-term using caution, maybe defensive.We are susceptible to large pullbacks or dips with spikes in volatility.Keep using caution as the Coronavirus is not cured and continues to spark fears about an economic slowdown.The U.S. economy is uncertain. (As far as we are told/know). We must keep an eye on how the virus might slow it down and by how much.After any big sell-offs or dips - look for names that are oversold to buy. Have your trading list ready.We like: $AMRN - Amarin, $AUPH - Aurinia Pharma, $CARA - Cara Therapeutics, $COLL - Collegium, $EPZM - Epizyme, $HZNP - Horizon Pharma, $IMMU - Immunomedics, $KPTI - Karyopharm, $TGTX - TG Therapeutics.All high beta biotech stocks / healthcare stocks, all oversold.Also if the dividend is safe and your thinking longer-term: $T - AT&T is worth a look/grab, near 7% yield. * Currently some of the market action is "unpredictable or irrational". Keep that in mind if trading. * Using some caution: * Meaning - Do not use margin at this time. * VIX: Spikes on virus fears! Expect possible price swings. If the market has truly found a bottom or support the Vix will start coming back down. INDICATORS: The MACD is negative. The Stochastics are neutral/high. The Money Flow is neutral. MA +/-: The 50-day MA (301.17)(-1.46) and the 200-day MA (299.36)(-0.15) On the 9-month chart below, we were looking at a severe and quick drop of the market. All previous patterns are broken and voided. Next step is to see if some sort of support level actually holds. We see the possibility of a 240 area for support. With 4 days above it now, this level has a good chance of holding this time. Continue to use caution as we deal with the breaking down of the previous chart patterns. Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. 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