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 Friday morning: Futures trade vs fair value were trading higher last night. A rebound attempt after a big sell-off on Thursday.See below for the many changes to our charts.Dow +340, S&P +40, Nasdaq +120, Russell +36.The biggest factors in the market right now are; the Fed, Coronavirus & Protest headlines, how the economy is re-opening, the Global Economy and Global Geopolitical conflicts.Keep an eye on the VIX - (CBOE Volatility Index) - (40.79). Spiked during the sell-off Thursday, we would expect to come back down again at some point. Today's Economic Calendar: 10:00 AM: University of Michigan's Consumer sentiment index (Preliminary for June). 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 huge sell-off all day long on Thursday with a good amount of volume. Is this another dip to buy? On our charts we have a good amount of changes. The high volume during the sell-off ended the overbought reading for the Stochastics and turned the Money Flow to slightly negative. There is a dip in the MACD, but it is still positive. The SPY 310 line has become a resistance level once again as we dropped below it. The good news is, the SPY 300 and the 200-day moving average have held and are still supports. We are still 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 Stochastics dropped from overbought to high/neutral.The Money Flow dropped to a slight negative. 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 / spiked up during the sell-off. Watch it for signs it comes back down, or not. 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 still in good shape and appears bullish. Could be a buy the dip moment again. Just keep in mind the fundamentals are questionable currently and a bit unpredictable. In addition, we still have virus fears and protests to deal with.Longer-term we still look ok, but we say "Use Caution" for a reason. Do not over risk yourself or over leverage yourself.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 always. * Using caution = Do not use MARGIN at this time unless absolutely certain of your trade! *INDICATORS: The MACD is positive. The Stochastics are high/neutral. The Money Flow is slightly negative. MA +/- (slope): The 50-day MA (288.74)(+0.86) and the 200-day MA (298.90)(+0.08) 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 are above the 200-day moving average and SPY 300. Which are 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, $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. 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