SPY Charts and some Technical Analysis News to keep in mind Today - Today's Economic Calendar - The Charts - Opinion - Stock Picks. News to keep in mind Thursday morning: Futures trade vs fair value were trading lower last night. A day after the Nasdaq set new record highs & comments by Fed chairman Powell.Initial Unemployment Claims Report this morning!Short-term overbought as indicated by the Stochastics.Dow -215, S&P -19, Nasdaq -28, Russell -23.The biggest factors in the market right now are; Coronavirus & Protest headlines, how the economy is re-opening, the Fed, the Global Economy and Global Geopolitical conflicts.Keep an eye on the VIX - (CBOE Volatility Index) - (27.57). It is still a bit elevated, but well off the higher panic like levels. Today's Economic Calendar: 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for a 1.200 million initial claims, down from 1.877 million the previous week.8:30 AM, The Producer Price Index for May from the BLS. The consensus is for a 0.1% increase in PPI, and a 0.1% decrease in core PPI.12:00 PM, Q1 Flow of Funds Accounts of the United States from the Federal Reserve.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.) BRIEFING: A mixed day again on Wednesday with the Nasdaq making new highs while the Dow and S&P 500 were slightly lower. On our charts we didn't have much change. The divergence between the Stochastics and the Money Flow still exists and needs to be considered if trading. The Stochastics are showing a definite overbought reading while the Money Flow is still positive even after to selling days in the SPY. Normally that would mean a short-term (2-4 days) correction to alleviate the overbought condition followed by a resumption of the longer-term uptrend. That could still happen, but these are not normal conditions due to Fed manipulation, news, etc. Use caution as computers are trading more than people. We are a bit above the former resistance line at SPY 310, it is now marked as a support line. Also, we are above the 50-day and 200-day moving averages with the 50-day moving average rising noticeably. (Bullish).* Don't risk to much, there is still a lack of CERTAINTY in the markets. * IF wanting to gamble: Options trades on these ETFs will give you a way to place your bets. $TQQQ - $SQQQ - $SPXL - $SPXS. * Beware - levered ETFs are subject to decay and are not for long-term holding. * CHANGES: The Money Flow decreased to Positive from Very Positive. POSITIVES: We are over the 20-day moving average.We are over the 50-day moving average, which is rising.We are over the 200-day moving average, which is rising. NEGATIVES: What about the fundamentals? Virus? Protests? Economy & Jobs?The Vix is still high / above 20. OPINION: Currently we are above the 50-day and 200-day MAs. (Bullish).The 20, 50, and 200-day MAs are all heading higher now. (Positive slopes). This is bullish!Technically the market is in great shape and appears solidly bullish. Just keep in mind the fundamentals are questionable currently. We still have virus fears and protests to deal with.Short-term we are overbought, longer-term we look technically strong.Be aware that we are still susceptible to large drops or dips with a level of uncertainty.Look for trading opportunities that could result due to higher volatility!Have your trading lists ready. * Using caution = Do not use MARGIN at this time unless absolutely certain of your trade! *INDICATORS: The MACD is positive. The Stochastics are overbought. The Money Flow is positive. MA +/- (slope): The 50-day MA (287.88)(+1.15) and the 200-day MA (298.82)(+0.20) On the 9-month chart below, we are looking at a severe and quick drop of the market and then a rebound. About 3/4ths of the losses were recovered. We finally got over and above the 200-day moving average and SPY 300. Which are now support levels. (Bullish). * Continue to use some caution - Still many unknowns. * STOCKS: (Our most recent FULL TRADING LIST is posted here). < Favorites & Trade Ideas > <-- Click here for the quotes, details, news and opinions on our current Favorites and Trade Ideas! Current trading favorites: AMRN - Amarin, AUPH - Aurinia Pharma, BFYT - Benefytt Tech, EPZM - Epizyme, EXEL - Exelixis, HZNP - Horizon Therapeutics (new all-time highs), IOVA - Iovance, IMMU - Immunomedics. KPTI - Karyopharm, TGTX - TG Therapeutics.If your thinking longer-term/income: T - AT&T is worth a look - high dividend yield.Tech Pick: CRWD - CrowdStrike. * Feel free to share your list/picks in the comments below. 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. With our Daily Trackdowns, check back for additional analysis/observations during the trading day in the comments by us or our readers. .Are you interested in trading stocks to supplement your income or make a living? Maybe become a professional trader? Many traders have the skills and nerves to trade, but not the upfront capital.Well now that problem is solved!Try2BeFunded has expanded its trading program! If you're a novice or experienced trader, you can earn access to a trading account with up to $100,000! 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