Daily SPY Read

$SPY bounced off on Friday afternoon, but it wasn't enough to launch us to any sutainable level. We had it holding the 100ma, but latyer in the day we broke below, and later regained traction, but failed to close above the 159.39 fib level that during the day became a target. Today we are opening

$SPY went ex divident today, but it is clear that we bounced off the 159.40 (give or take). The reason I said we bounced off that level and not 159 is because we ended the day with 159.40. My point is simple, when we get to a support or resistance level, one have to pay

So as I write this the $SPY is to open .10 cents from the 50ma of 162.02. As many people look at that 50ma with such importance, they forget to give Fibonacci retracement levels a look, and end up not knowwing where is the most likely place for a possible bounce really is. Yesterday a

There is not much to say today besides the fact that we have to wait for the fed decision to come out at 2:00pm. I personally will not trade much today until I see a significant move in the market. I highly suggest you to do the same. $SPY 1st support is 165.55, 2nd support 164.47 and 3rd is 163.38. $SPY 1st

Market still showing strength as we are just one day from the fed's decision. We had a nice pop of 6.8% in house starts. As we broke above the $SPY's 164.47 level yesterday the chances of us ramping up to 165.55 are becoming more and more real. I also will go as far to say

First of all I hope everyone had an amazing Father's day. My was fantastic surrounded by my lovely women, and dearest friends. So we have the Fed meeting this week, and the market is showing some excitement to the upside. I think that is great, but I like to see how that excitement compares to

So what was the real reason for the bounce off the 161.30 level in the $SPY. For starters 161.35 is the $SPY's 50ma, so normally it was tested and held. Second is the $NYMO (McClellan Oscillator) that from time to time I like to mention on my $SPY reads. The chart below show that the

Sorry everyone, I got to keep it simple again today. Here are the Numbers. $SPY 1st support is 161.35, 2nd support 1660.25 and 3rd is 159.40. $SPY 1st target is 162.83 and 2nd is 164.30, 3rd is 166.15, and 4th just for fun is 169.78. Trade what you see, not what you think

Another busy morning for me. Here are the Numbers. $SPY 1st support is 163.62, 2nd support 162.35 and 3rd is 160.25. $SPY 1st target is 164.66 and 2nd is 165.71, 3rd is 167.19, and 4th just for fun is 167.78. Trade what you see, not what you think

I got to keep this very simple today everyone. I got to take care of some personal issues this morning, nothing serious, just things that need to be done. So here are the numbers. $SPY 1st support is 164.66, 2nd support 163.62 and 3rd is 162.35. $SPY 1st target is 165.71 and 2nd is 167.19, 3rd is 167.78, and