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 Wednesday morning: Futures trade vs fair value were trading a bit higher late last night. Note: A very full economic calendar today!Dow +75, S&P +11, Nasdaq +65, Russell +3. (11:25 pm ET).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; Coronavirus headlines, the US economy, the Global Economy, and political drama.Watch the VIX - (CBOE Volatility Index) - Currently back to the low 20s, close to being risk back on. Today's Economic Calendar: 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.8:30 AM, The initial weekly unemployment claims report will be released. The consensus is initial claims decreased to 710 thousand from 742 thousand last week.8:30 AM, Gross Domestic Product, 3nd quarter 2020 (Second estimate). The consensus is that real GDP increased 33.1% annualized in Q3, unchanged from the advance estimate of GDP.8:30 AM, Durable Goods Orders for October from the Census Bureau. The consensus is for a 1.9% increase in durable goods orders.10:00 AM, Personal Income and Outlays for October. The consensus is for a 0.1% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.2%.10:00 AM, New Home Sales for October from the Census Bureau. The consensus is for 975 thousand SAAR, up from 959 thousand in September.10:00 AM, University of Michigan's Consumer sentiment index (Final for November). The consensus is for a reading of 77.0.2:00 PM, FOMC Minutes, Meeting of November 4-5, 2020 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 big breakout day to new highs for the markets. The Dow crossing over 30,000! We did confirm a 'Bull Flag" formation today and a breakout to the upside from it. Technically the charts are looking quite positive. Also added a new support level at SPY 352.50 on our chart. * On our charts we did point out a triangle on the top right corner Monday. It appears like a 'bull flag' formation. So we have a shot at breaking out to new highs and going higher. At the same time, we would not bet the whole farm.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: We broke out of a 'Bull Flag' formation. (Bullish).We added SPY 352.50 as a new support level. POSITIVES: The MACD is positive.We are over the 20-day moving average, which is rising.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, Valuations, Virus news, the Economy, Jobs, Election results, Politics, The FED, etc.?A lot of things out there to worry about still!** - Although - We are seeing more certainty now with the election being over, covid vaccines updates, Janet Yellen as treasury Sec., etc. OPINION: Currently we are above the 20-day, 50-day and 200-day MAs. (Bullish).We were thinking about a sideways - range bound type of market for a while, but the market may keep rising.So - The possibility of making new highs is on the table as the technicals are looking well.SPY 340 is our support/stop level, also SPY 352.50 is new support for us now.The top of that big black candle near SPY 364 is where resistance could be found.We still say "Use Caution" for a reason. Do not over risk yourself or over leverage yourself.We are still susceptible to large drops or dips.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. The Stochastics are neutral. The Money Flow is neutral. MA +/- (slope): The 50-day MA (342.76)(+0.49) and the 200-day MA (312.67)(+0.17) The 9-month chart (below). We are above the SPY 340 level, which appears to be good support now. The market looks to be making a nice up-channel since the March low. Technically looking well. STOCKS: (Our most recent FULL TRADING LIST is posted here). (11-9-2020). < Favorites & Trade Ideas > <-- Click here for the quotes, details, news and opinions on our current Favorites and Trade Ideas! Current trading favorites: AUPH - Aurinia Pharma (Their Lupus drug is on a path to approval), EPZM - Epizyme, EXEL - Exelixis, HZNP - Horizon Therapeutics (A big winner for us this year/tripled), IOVA - Iovance, KPTI - Karyopharm, TGTX - TG Therapeutics (Our Top Pick!).If your thinking longer-term/income: T - AT&T (7%) high dividend yield.Tech Picks: CRWD - CrowdStrike (Although be aware it has a high valuation now), FEYE - FireEye. * 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. 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