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 mixed/near unchanged late last night.Dow -11, S&P -3, Nasdaq +2, Russell +6."You can't fight the FED" quote will continue to hold weight.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 & Protest headlines, how the economy is re-opening, the Global Economy and Global Geopolitical conflicts.Watch the VIX - (CBOE Volatility Index) - back down to the low 30s. It has come down after a brief spike last week, but remains elevated compared to historical standards. Today's Economic Calendar: 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.9:00 AM, FHFA House Price Index for April 2019. This was originally a GSE only repeat sales, however there is also an expanded index.During the day, The AIA's Architecture Billings Index for May (a leading indicator for commercial real estate). 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: We had another up day and new highs for the tech stocks/QQQs. There were no changes to our charts with the exception of staying above the SPY 310 resistance line. * We are above the SPY 310 resistance line again, but we will leave this line on the chart. This level may become a battle ground, it will be interesting if we can hold above this line or not?A good technical sign so far is we are above the more important SPY 300 and 200-day moving average support levels. The QQQs/Nasdaq continue to outperform the rest of the market.* 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: Stayed over SPY 310 resistance line. 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 last sell-off. Watch it for signs about market direction. 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!Technically the market is still in good shape, but keep in mind the fundamentals are questionable currently and a bit unpredictable. In addition, we still have virus fears and protest type of things 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 due to higher volatility!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 (295.02)(+0.75) and the 200-day MA (298.47)(+0.10) On the 9-month chart below, we are looking at a quick drop of the market and then a strong rebound. 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. 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, 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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