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 a bit lower late last night. Note: Unemloyment #s and Fed minutes today.Dow -75, S&P -7, Nasdaq -10, Russell -2. (11:20 pm ET).We still look ok 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 headlines, how the economy is re-opening, the Global Economy and Global Geopolitical conflicts.Watch the VIX - (CBOE Volatility Index) - 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.8:15 AM, The ADP Employment Report for June. This report is for private payrolls only (no government). The consensus is for 3,000,000 payroll jobs added in June, up from 2,760,000 lost in May.10:00 AM, ISM Manufacturing Index for June. The consensus is for the ISM to be at 49.0, up from 43.1 in May.10:00 AM, Construction Spending for May. The consensus is for a 1.0% increase in construction spending.All day, Light vehicle sales for June from the BEA. The consensus is for light vehicle sales to be 13.0 million SAAR in June, up from 12.2 million in May (Seasonally Adjusted Annual Rate).2:00 PM, FOMC Minutes, Meeting of June 9-10, 2020 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: The markets had another rebound day to end the month of June and the 2nd quarter. We had two positive changes to our charts; the MACD is no longer declining and the Money Flow has improved to a neutral from a slight negative. We still are showing the successful bounce off of the SPY 300 level. (Positive). The good news - we are still holding above the SPY 300 and 200-day moving average levels. We are expecting the good technical support levels at the SPY 300 line and the 200-day moving average will hold on any dips. (But there are no guarantees). So use caution and keep an eye on it. Trade according to your own "risk tolerance".* 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: MACD no longer declining. The Money Flow improved to neutral from a slight negative. POSITIVES: We are over the 50-day moving average, which is rising.We are over the 200-day moving average, which is rising. NEGATIVES: We are under the 20-day moving average.What about the fundamentals? Virus? Protests? Economy & Jobs?The Vix is still high and may remain high for the foreseeable future. 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.But we are now under the 20-day MA, which could cause trouble.Technically the market is still in decent shape, but keep in mind the fundamentals are questionable currently and a bit unpredictable along with lingering virus fears 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 hanging over us!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 neutral. The Money Flow is neutral. MA +/- (slope): The 50-day MA (297.45)(+1.39) and the 200-day MA (298.75)(+0.14) The 9-month chart. 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. SPY 280 is longer-term good support. SPY 310 and SPY 320 are strong resistance. 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 (Has pulled back to an attractive buy level), $IMMU - Immunomedics (Buyout possibility). $KPTI - Karyopharm, $TGTX - TG Therapeutics (Top Pick!).If your thinking longer-term/income: $T - AT&T is worth a look - high dividend yield.Tech Picks: $CRWD - CrowdStrike, $DT - Dynatrace. * 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. 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