Fuinhaz

$SPY did something interesting. If you guys open a SPY 5 min chart just before the market opened one would have noticed that the $SPY was going to open around 140.20. One could have interpret that an open @ 140.24 (and if it holds) we were building the second shoulder of an invert head and

$SPY opening flat after US data shows that jobless claims unexpectedly fell, down by 6,000 to 361,000; trade deficit narrows in June to $42.92 billion Vs. $48.04 billion in May. From what I have noticed on the past 3 days is a slowdown of the equity names I follow, and yesterday I noticed the same

$SPY trying to stay above the 140.45 pivot level. Remember that above 140.54 we should run and end the day strong. If we close strong, I will probably sit out the 1st hour to try to figure out this market may go. Now if the $SPY break below 140.17, then we will most likely lose

$SPY dropped nicely, but dip buyers came in to save the day for now. I noticed that there are some heay names that are not doing as well as they were about three days ago, and that worries me. I am not worried about the long run, I am worried about the short term, which

$SPY opening lower today (no surprise from my part). I personally don't even know how to describe how stupid this past three day rally were. Absolutely no news, again I am still looking for more upside, but it better come with something sustainable not just someone waking up in the morning and decide to turn

I am not shocked by this pull-back. We were going up on no news, just momentum. I still believe we can move higher, but some traders just don't feel comfortable buying the top. I am one of these traders. It is nearly impossible you will see me recommending to buy anything when I see that

This market is getting a bit tired in my opinion. $SPY opened above my current chart's 2nd resistance, and spiked to my 1st target 140.64 and my current chart's 3rd resistance. My personal interpretation is that the big move is done, and that eventually we will sell off during the day. This could be a

$SPY jumping again. Still no real catalyst. I did read that London banks are taking some heat as they are accused by the US regulators for helping Iran stack up 250 billion. The "socialist" president of France is also on the hot seat as he have been pushing the prime minister of Italy to ask

I think $SPY is doing a head and shoulder pattern on 5 and 3 min chart. The chart does not look very clear, but I am certainly counting on a possible sell off if we re-test that 139.85 level. We don't have any major data coming out tomorrow. So this market is running on no

$SPY made a nice run just 1 cent above my 1st target of 140.16, and now pulling back. It is very important that the $SPY holds this 139.94 level, otherwise we will sell to balance the amazing run on Friday, and the lack of new catalyst to keep us pushing higher. A drop under 139.85