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 lower late last night. -- All about the election results and reaction to them --Dow -31, S&P -18, Nasdaq -170, Russell n/a. (12:15 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, the Global Economy, and political drama.Watch the VIX - (CBOE Volatility Index) - Spiked on Monday's sell-off, let's see if it stays up or comes back down. 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 December. This report is for private payrolls only (no government). The report showed 307,000 jobs added in November. 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: A little bounce back on Tuesday after Monday's selling. Right now it is all about the special Senate elections in Georgia and the reaction to the results. Some increased fear can be seen by looking at the jump in the Vix on Monday. Monday created a "Bearish Engulfing" candle. This sometimes marks a top or a negative change in trend. We will have to watch this closely. Technically alone, we are still looking at a positive chart for the market. But the risk for a change in trend is possible. The good news so far is we are still trading above our SPY 362.50 support line."The possibility of a consolidation, sideways market, or pullback of some kind may happen at some point." But not necessarily. Positive momentum and easy money can keep driving us to new highs.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 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: Stochastics are a bit high.Possible market top? Getting overbought or to high to fast?* Note: The 50-day moving average has gotten way ahead of the 200-day. This can be an overbought issue.What about the Fundamentals, Valuations, Virus news, the Economy, Jobs, Election issues, 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 possibility of making new highs is on the table as the technicals are still positive.SPY 362.5 acted as support recently and is a level to watch.Charts alone without thinking about the Fed, politics, vaccine, virus, etc looks okay.But those risks should be kept in mind.We also see the possibility of staying in a SPY 362 - 374 trading range for a while.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/declining. The Stochastics are high. The Money Flow is positive/declining. MA +/- (slope): The 50-day MA (357.83)(+0.56) and the 200-day MA (321.78)(+0.73) The 8-month chart (below). We are above the SPY 362.50 which is minor support and well above strong support at 352.50. The market has been making an impressive up-channel since June. Technically looking well. 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: 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, SGMO - Sangamo, TGTX - TG Therapeutics (Our Top Pick!).Tech Picks: CRWD - CrowdStrike (Although be aware it has a high valuation now).Also watching closely: OMER, 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. 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