SPY daily.
My reading of the chart. The charts are number 1 for me. I would almost say it is all there in the charts. Of course I pay attention to the news.
[After decades at this work, I no longer read as much, nor look for answers from gurus. There have been many whose ideas struck a chord with me. Seykota. Donchian. Dennis. Adrian Manz. John Carter. Brooks. Jack Schwager's books. On and on.
At this time I enjoy day trading and scalping with ES, SPY and the like, playing momentum, as I see it. I day trade stocks also. And I swing trade stocks, with value and price movement as key.]
Climbing the wall of worry.
Trend up since November.
A doji on Friday, indecision.
Indicators:
Sto --> bullish
MACD --> bullish
(I use Sto and MACD mostly for turns and impulse moves. Once they top out, they are not that useful to me.)
Histogram --> flat or slightly in the positive.
Volume --> good, bullish
Bollinger --> very bullish, breakout January 19.
EMAs 20, 50 and 100 all up, widening and in the right order.
Not shown here, but Pivots, highs and lows, opens and closes are also very important to me. I use them with NinjaTrader. They act like Darvas boxes for breakouts and fades, and as magnets/targets.
So for SPY, on a swing trade basis: flat, with some bullish bias. Ready to change direction at any time.
Charts posted are not recommendations. They are just a sharing of information.