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Context Technical Analysis

Since mid-October SPY is moving above its 10- 20- and 50-day exponential moving averages.

The ETF is moving in a bullish channel between its 10-day exponential moving average and the upper Bollinger Band.

In addition, SPY’s 20- and 50-day exponential moving averages follow below the 10-day exponential moving average, a sign of a strong uptrend


Since mid-October MACD is moving in bullish territory and above its signal line.

Only in one occasion did MACD move below its signal line, as a result of a temporary momentum weakness, but it has already turned up and crossed over its signal line.

Relative Strength

As SPY is the benchmark we use for measuring Relative Strength, SPY’s Relative Strength is by definition i.

MSI General

The general MSI is 76.9 and going down

Higher Time Frame

SPY’s weekly chart is bullish because:

  1. SPY moves between its 10-week moving average and its rising upper Bollinger Band. What is more, in the last four weeks SPY moves on the upper Bollinger Band, a sign of strong bullish trend.

  2. The MACD is in positive territory and above its signal line

Suggested Buy

We can buy SPY when price goes above 316

Suggested Stop Loss

Sell SPY when price falls below 310

Recommended Size

200 pieces

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