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 late last night, except for the Nasdaq. -- New record highs made yesterday. --Dow +95, S&P +1, Nasdaq -35, Russell +13. (1:40 am ET).We look good technically - But use "Caution" message has been on here for a while for a reason. (Quick sell-offs and/or getting overbought 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, interest rates, the Global Economy, any political drama.Watch the VIX - (CBOE Volatility Index) - The Vix has risen a bit in the declines, then backed all the way down to the low 20s. No real sign of a panic during the latest pullback and risk is coming back on. Today's Economic Calendar: 8:30 AM: The Producer Price Index for February from the BLS. The consensus is for a 0.4% decrease in PPI, and a 0.2% increase in core PPI.10:00 AM: University of Michigan's Consumer sentiment index (Preliminary for March). THE CHARTS: (NOTE: Charts are a good guide, but news items can move the markets around.) BRIEFING: Huge day Thursday as the markets made new record highs! Apparently the bull market is back and we are resuming the previous uptrend. On our chart indicators today, the MACD has curled up noticeably. This is usually a bullish indication. But we also notice the Money Flow is still negative and we are just under resistance. So be careful if your chasing the market. We still favor a trading range a bit more than everyday new highs. Questions: How is the economy is reopening? What does the stimulus deal passing mean? Will treasury yields stay low/stabilize? Will stimulus checks going to the 'Robinhood' kids add volatility to the markets? Positives: We are above the 50-day moving average and well above the SPY 375 support level.Note: The Russell 2000 (small caps) are still leading the markets so far this year. Up 18% YTD now!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 MACD is crossing up.We are up against resistance. POSITIVES: The MACD is positive.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: The Money Flow is negative.Possible market top or trading range?Thinking about the Fundamentals, Valuations, Virus news, the Economy, Jobs, Politics, The FED, etc.?Some things out there to worry about still! Or a wall of worry to climb as the saying goes. OPINION: Currently we are above the 20-day, 50-day and 200-day MAs. (Bullish).The MACD is crossing upwards. (Bullish).The Money Flow is still negative. (Bearish).We are in trading range of SPY 375-395 with both bullish and bearish indicators.Currently we are looking for the supports to hold and then some sideways type action for a while.With current stimulus, low rates, and the economy reopening from Covid, a recovery and the previous uptrend resuming is possible. New highs in a week or two also possible!BUT... There is also just as good of a chance we go sideways in a trading range for some time. Risks to the markets still remain.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. * Be careful if using MARGIN at this time, be certain of your trade! *INDICATORS: The MACD is positive, crossing up. The Stochastics are neutral. The Money Flow is negative. MA +/- (slope): The 50-day MA (382.69)(+0.42) and the 200-day MA (346.68)(+0.49) The 8-month chart (below). We are above the SPY 375 support level. We are below SPY 395 resistance level. The market is in an impressive up-channel. STOCKS: < Favorites & Trade Ideas > <-- Click here for the quotes, details, news and previous opinions on our Favorites and Trade Ideas lists! Current trading favorites: AUPH - Aurinia Pharma (Lupus drug has been FDA approved!), EPZM - Epizyme, EXEL - Exelixis, HZNP - Horizon Therapeutics (A big winner for us last year), IOVA - Iovance (Dropped from 50 to low 30s, good time to buy), KPTI - Karyopharm, SGMO - Sangamo, TGTX - TG Therapeutics (Our Top Pick!).Tech Picks: CRWD - CrowdStrike (Although be aware it has a high valuation now).Also watching: IMGN, OMER, SRNE, TRIL, VKTX. * 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. .