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 near unchanged / mixed late last night.Dow -12, S&P +3, Nasdaq +8, Russell +5.We look good technically - But use "Caution" message has been on here for a while for a reason. (Quick sell-offs are a possibility at anytime - so we continue to leave this note).The biggest factors in the market right now are; the Fed, Coronavirus headlines, how the economy is re-opening, the Global Economy and Global Geopolitical conflicts.Watch the VIX - (CBOE Volatility Index) - remains elevated compared to historical standards. Really did not spike that much by the end of Wednesday's sell-off. Today's Economic Calendar: 8:30 AM ET, Personal Income and Outlays, May 2020. The consensus is for a 6.0% decrease in personal income, and for a 9.0% increase in personal spending. And for the Core PCE price index to increase 0.2%.10:00 AM, University of Michigan's Consumer sentiment index (Final for June). The consensus is for a reading of 78.9. 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: Ended the day on a bullish note with buying into the close. On our charts we didn't see any changes of note, with the exception that the SPY 300 did act as good support as we bounced higher off of that level. We are still under that SPY 310 resistance line that we have kept marked on the chart. This is fairly strong level of resistance. The MACD is still positive, but note that it is slightly declining. We are expecting the good technical support levels at the SPY 300 line and the 200-day moving average will hold on any dips. But use caution and keep an eye on it. Trade according to your own "risk tolerance".* 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: Successful test of the SPY 300 support level. (Bullish). POSITIVES: We are over the 50-day moving average, which is rising.We are over the 200-day moving average, which is rising. NEGATIVES: We are under the 20-day moving average.MACD is slightly declining.What about the fundamentals? Virus? Protests? Economy & Jobs?The Vix is still high and may remain high for the foreseeable future. OPINION: Currently we are above the 50-day and 200-day MAs. (Bullish).The 50 and 200-day MAs are both heading higher now. (Positive slopes). This is bullish!But we are now under the 20-day MA, which could cause trouble.Technically the market is still in good shape, but keep in mind the fundamentals are questionable currently and a bit unpredictable along with lingering virus fears to deal with. There is a cloud of uncertainty / a wall of worry to climb.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 and have your trading lists ready. * Do not use MARGIN at this time unless absolutely certain of your trade! *INDICATORS: The MACD is positive, declining. The Stochastics are neutral. The Money Flow is neutral. MA +/- (slope): The 50-day MA (296.06)(+0.61) and the 200-day MA (298.61)(+0.08) The 9-month chart. We are above the 200-day moving average and SPY 300. Which are good support levels. (Bullish). So far we have been holding these levels, a positive technically. SPY 280 is longer-term good support. SPY 320 strong resistance. 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 (Keeps making new all-time highs!), $IOVA - Iovance (Has pulled back to an attractive buy level), $IMMU - Immunomedics (Buyout possibility). $KPTI - Karyopharm (Recent FDA Approval!), $TGTX - TG Therapeutics (Top Pick!).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. 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