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    Fuinhaz $SPY read for November 28, 2012

    $SPY taking the hit I was expecting since Monday. We are failing the second Fibonacci retracement level as we find ourselves under the 140.11 level. So this is not looking good at all. According to the $NYMO (McClellan Oscillator) we were due for a pullback ans I expect us to drift lower until the 137.60 (3rd Fibonacci retracement level). If one checks an hourly chart

    By |Published On: November 28, 2012|1 min read|
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    Fuinhaz $SPY read for November 27, 2012

    $SPY opening flat. I will be looking to see how it will react to the 141.12 b/o but the news are not very exciting, so with no real news we can't continue to climb with the same strength as we did last week. I have noticed that some of the traders I spend the day with are

    By |Published On: November 27, 2012|1 min read|
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    Fuinhaz $SPY read Extra Note

    The $NYMO (McClellan Oscillator) is very close to the overbought level. So this is what I am expecting today. We pullback at the open, Then we receive the news from the European commission which will make us run around 141.68+. We will then have a strong close. At that point the $NYMO will be in

    By |Published On: November 26, 2012|1 min read|
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    Fuinhaz $SPY read for November 26, 2012

    $SPY gaping down a bit. As long as it holds the 2nd Fibonacci retracement @ 140.14 we should be due for another run. Today we are waiting for Europe to decide if it will indeed continue to help Greece.  I also did read that Spain is going to ask for 42.5 billions to the European Union. Remember that Spain is considered

    By |Published On: November 26, 2012|1 min read|
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    Fuinhaz $SPY read for November 23, 2012

    I will not be trading today, but I want to leave you with my expectations on the $SPY today. $SPY 1st support is 139.39, 2nd support 138.59, and 3rd is 138.05. $SPY 1st target is 140.16, 2nd is 140.64 3rd is 141.12, and 4th one just for fun is 141.56. Trade what you see not what you

    By |Published On: November 23, 2012|0 min read|
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    Fuinhaz $SPY read for November 23, 2012

    I will not be trading today, but I want to leave you with my expectations on the $SPY today. $SPY 1st support is 139.39, 2nd support 138.59, and 3rd is 138.05. $SPY 1st target is 140.16, 2nd is 140.64 3rd is 141.12, and 4th one just for fun is 141.56. Trade what you see not what you

    By |Published On: November 23, 2012|0 min read|
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    Fuinhaz $SPY read for November 21, 2012

    $SPY pretty much flat, but looking like it wants to conquer the 2nd Fibonacci retracement of 140.10. The economic data this morning show that jobless claims fell by 41,000 to 410,000, which is in line with the estimates. I am not expecting too much today since everyone is already in the Thanksgiving mood. And with

    By |Published On: November 21, 2012|0 min read|
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    Fuinhaz $SPY read for November 21, 2012

    $SPY pretty much flat, but looking like it wants to conquer the 2nd Fibonacci retracement of 140.10. The economic data this morning show that jobless claims fell by 41,000 to 410,000, which is in line with the estimates. I am not expecting too much today since everyone is already in the Thanksgiving mood. And with

    By |Published On: November 21, 2012|0 min read|
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    Fuinhaz $SPY read for November 20, 2012

    $SPY pretty much flat as we received news last evening about France being downgraded from AAA to AA. Doesn't impress me at all but I think this is the media trying to take focus from Spain, that is in real bad shape. Actually I did read yesterday that Spain was offering permanent visa for foreigners

    By |Published On: November 20, 2012|1 min read|
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    Fuinhaz $SPY read for November 20, 2012

    $SPY pretty much flat as we received news last evening about France being downgraded from AAA to AA. Doesn't impress me at all but I think this is the media trying to take focus from Spain, that is in real bad shape. Actually I did read yesterday that Spain was offering permanent visa for foreigners

    By |Published On: November 20, 2012|1 min read|