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 a bit higher late last night. Employment report due out this morning.Dow +42, S&P +7, Nasdaq +43, Russell +3. (1:55am 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, 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: 8:30 AM ET. Employment Report for November. The consensus is for 500 thousand jobs added, and for the unemployment rate to decrease to 6.7%.8:30 AM: Trade Balance report for October from the Census Bureau. The consensus is the trade deficit to be $64.7 billion. The U.S. trade deficit was at $63.9 billion in September. 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: Flat day on Thursday with no changes to our chart indicators. On our charts we are technically looking strong, with the only exception being the Stochastics are now showing an overbought reading. We still have our 'Bull Flag" formation pictured on our chart, as we have definite gap up and breakaway. We still are using a bit of caution as this market has come up a long way and some uncertainties still remain. * We have a shot at breaking out to new highs and going higher. But, at the same time, we would not bet the whole farm. A sideways type of market is also a good possibility.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 Stochastics are now overboughtJust under new all-time highs! POSITIVES: The MACD is positive.The Money Flow 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: The Stochastics are saying the market is short-term overbought.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 352.50 is a support level for us now.The top of that big black candle near SPY 364 is where resistance might 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 overbought. The Money Flow is positive. MA +/- (slope): The 50-day MA (346.86)(+0.88) and the 200-day MA (313.63)(+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. Readers should do their own research before making decisions to buy or sell securities. 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