SPY Charts and some Technical Analysis Today's Economic Calendar - The Charts - Opinion - Stock Picks. Today's Economic Calendar: 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.8:15 AM, The ADP Employment Report for August. This report is for private payrolls only (no government). The consensus is for 638,000 payroll jobs added in August, up from 330,000 added in July.10:00 AM, ISM Manufacturing Index for August. The consensus is for the ISM to be at 58.5, down from 59.5 in July.10:00 AM, Construction Spending for July. The consensus is for a 0.3% increase in construction spending. THE CHARTS: (NOTE: Charts are a guide, do other research as well.) BRIEFING/OPINIONS: The markets were slightly down on Tuesday in a quiet day. With this we had no changes to our chart indicators. However, keep in mind that the Stochastics are still overbought. Often this means a brief pullback may be around the corner. With that said the market can stay either overbought or oversold for sometime depending on momentum and other factors. The MACD and the Money Flow are still good technical positives, although the Money Flow has weakened a bit the last few days. Some pullbacks are always possible, but the longer-term trend and momentum are still intact. The technical charts for the market look good. SPY 425 is our strong support level, it could also be considered a stop level for some traders. Also SPY 437.50 is now marked as a support level. * If you have any questions, opinions, or comments to add please do so! * 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: None. POSITIVES: The MACD is positive.The Money Flow is positive.We are above the 20-day moving average, which is rising.We are above the 50-day moving average, which is rising.We are above the 200-day moving average, which is rising. NEGATIVES: The Stochastics are overbought.Possible market top or trading range in the future?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. OUTLOOK: Longer-term we are still bullish. The 8-month chart shows a strong uptrend.However, the risk of drops or brief pullbacks still exist in the short term.Longer-term questions to ask: When will the Fed's easy money and the stimulus sugar run out?Will higher inflation cause the Fed to raise rates? Covid still hurting the economy?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, be certain of your trades! *INDICATORS: The MACD is positive. The Stochastics are overbought. The Money Flow is positive. MA +/- (slope): The 50-day MA (437.94)(+0.61) and the 200-day MA (402.41)(+0.51) The 8-month chart (below). We are above the 425 strong support level. Minor support at 437. The market is still climbing in a long-term up-channel. STOCK PICKS: (For trades and/or investments.) Current trading favorites: AUPH - Aurinia Pharma, CARA - Cara Therapeutics, EPZM - Epizyme, EXEL - Exelixis (A bargain here), HZNP - Horizon Therapeutics (A big winner for us last year), IOVA - Iovance, KPTI - Karyopharm (Good buy under $10), SGMO - Sangamo, TGTX - TG Therapeutics (Our Top Pick!), TRIL - Trillium Therapeutics (Got bought out by Pfizer for a huge gain!).Tech Picks: CRWD - CrowdStrike (Be aware it has a high valuation), DT Dynatrace (Good longer-term hold).Also watching: IMGN, VKTX. ** TGTX is a great buy at current levels and has been way oversold. Longer-term this will be higher. Accumulate this one now. A year from now this is much higher. Their pipeline MS drug looks like it will be best in class. ** * 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. .