Stocks Looking Bullish

The technical analysis for SPY is very strong. We see many indications of a strong bull trend. It would be wise to buy on a dip.

Currently, SPY is trading at $291.54.

We will find resistance from levels from above including the following:

291.65 from highs and lows over the past 14 periods

Levels from belowwill provide support, including:

289.47 from Volume profile over the past 14 periods
288.38 from Volume profile over the past 30 periods
286.77 from Volume profile over the past 14 periods
285.92 from Volume profile over the past 30 periods
282.69 from Volume profile over the past 100 periods
281.54 from Volume profile over the past 100 periods
280.16 from Highs and lows over the past 14 periods
278.71 from Volume profile
277.14 from Volume profile over the past 100 periods
275.93 from Volume profile
274.82 from Volume profile
274.08 from Volume profile
259.05 from Highs and lows over the past 100 periods
254.67 from Highs and lows

The technicals for SPY are as follows. Volatility is much lower than average, so a breakout can be expected. The RSI is 73, indicating that we are in a bull trend, but not yet overbought. The MACD is above the signal line, suggesting the bull phase may continue. SPY is well above the 50 period SMA, which is 281 at the moment, suggesting that we are overbought. Also, SPY is above the 100 period SMA by quite a bit, suggesting that we are overbought. Finally, the SMA(50) is above the SMA(100), a long term bullish confirmation. The ADX indicator shows a bull trend.