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. Less virus deaths news and re-openings.We have stayed above SPY 280 and that is a big technical win for the markets.Dow +230, S&P +26, Nasdaq +100, Russell +20.The next level up is the more difficult level to cross we think - the 200-day moving average. We are stuck just below this for the S&P 500 itself. Above it for the SPY.The biggest factors in the market right now are; Coronavirus headlines, how/when the economy will re-open, the Fed, the Global Economy and Global Geopolitical conflicts.Keep an eye on the VIX - (CBOE Volatility Index) - (28.01). It is still elevated, but well off the higher panic like levels and is drifting lower. Today's Economic Calendar: 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.10:00 AM, Richmond Fed Survey of Manufacturing Activity for May.2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts. 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: The markets had an up day for the Dow and S&P 500 and a slight down day for the Nasdaq's QQQs. We have crossed above the 200-day moving average on the SPY, BUT.. the problem is the cash S&P 500 itself is still just below that moving average. So we still have a upward fight on our hands. The SPY 300 level / S&P 500 3,000 level is also offering a good bit of resistance.Or charts stayed the same except for the candle being above the 200-day moving average.* 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: For the SPY we are over the 200-day moving average. (Bullish). POSITIVES: We are over the 20-day moving average.We are over the 50-day moving average.The 50-day moving average is rising.We are over the 200-day moving average.The 200-day moving average is rising. NEGATIVES: The cash S&P 500 is still fighting to get above it's 200-day MA and 3,000 level.The Vix is still high / above 20. OPINION: Currently we are above the 50-day and 200-day MAs. (Bullish).Next resistance level is the SPY 300 area, which is also the 200-day MA for the cash S&P 500.On a technical basis we are in good shape, but the 200-day MA maybe hard to get over.The 20, 50, and 200-day MAs are all heading higher now. (Positive slopes). This is bullish!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 slightly positive. The Stochastics are high/overbought. The Money Flow is neutral. MA +/- (slope): The 50-day MA (272.98)(+0.63) and the 200-day MA (297.33)(+0.05) On the 9-month chart below, we are looking at a severe and quick drop of the market and then a rebound. About half the losses were recovered and then a sideways period brings us to where we are today. The 280 line is now considered good support. It is a good technical sign for the markets that we have stayed above 280. A large triangle is drawn on the chart. We are staying above this triangle. (Bullish). * Continue to use caution - Still many unknowns. * STOCKS: (Our most recent FULL TRADING LIST is posted here). Current favorites: $AMRN - Amarin, $AUPH - Aurinia Pharma, $BFYT - Benefytt Tech, $COLL - Collegium, $EPZM - Epizyme, $EXEL - Exelixis, $HZNP - Horizon Therapeutics (new all-time highs), $IOVA - Iovance (buyout rumors), $IMMU - Immunomedics (FDA approval recently!), $KPTI - Karyopharm, $TGTX - TG Therapeutics (Positive drug trial results recently!)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. 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