Daily SPY Read

$SPY on the pre-market still under 163.22. This 163.22 level is a level I have been looking very closely since last week. On a very short term Fibonacci retracement level that I drew last week could be the beginning of a turn around. A possible pullback to give the market some breather, and put to

$SPY finding it hard to gap up again today. On Wednesday at the end of the day, the $NYMO (McClellan Oscillator) Reached just over the overbought territory briefly, and yesterday even though we made some new highs, the market did not had the stamina to finish up after yesterday's morning economic data on jobs. Yesterday's move made so

$SPY having a mild pullback this morning. I don't see any imminent problem unless we drop under 161.98, then there is a slight possibility that we may do a mild pullback to at least 161.56. Until then, buying the dips continue to work. This is what the $NYMO looked like last night. Notice that it is inches

$SPY opening mildly higher, after making another new high yesterday. As much as the market likes to run, I like to keep a very tight leech and also try to find out the levels in which it can fail. Every time we have a gap up, I immediately draw a short term Fibonacci level so

$CETV 30 min chart - If $CETV can cross and stay above 3 it is a nice long. $CVLT Hourly Chart - On pre-market it is positioning itself between 2 Fibonacci levels, the 61.8% and the 78.6%. Both are usually levels where a stock can turn around. I would not touch either of them until

I want to apologize for being absent. i just moved to a new place so the boxing and parenting duties were a priority. I am not completely done, as you may notice, I am only writing my $SPY read today, and not my setup. Huge days last Thursday and Friday. Market ramped up to new highs, and it still

Here we are 1st day of May, and all time highs. It is like I can almost smell 160.37. Listen, I need to keep this fairly simple since today I am moving to the new house, and I already have movers here wrapping all my stuff. The $NYMO is again close to being over bought,

$SPY tried hard yesterday, but eventually gave up and almost putted itself in danger as it briefly touched the 159.20 which on my charts was a support level. Today it is barely above that level as I write this, and from the look of this, it won't hold. Today is the last day of the

$SPY trying to continue the run. I will closely watch the 158.70 level. If it can cross that level with serious volume, we might go for a possible triple top, or who knows even higher. Maybe we will even touch my 160.37 educated guess target. Today's economic data showed that Americans continue to spend even though their salaries are

$SPY ready for another gap up, the $NYMO closer to and closer to the overbought territory. This time I think we will really hit it. As the market continues to gallop to new highs where everyone continue to profit from the run that started last Friday  I urge my readers not to ignore the levels, and