Daily SPY Read

Another gap up, the infinite rally is on, and it will only stop when it got every retail investor on board for another extraordinary, monumental, legendary pull of the rug. Yes, it will happen, it will crush many people again but as long as traders, and institutions continue to thrive on their everyday activities, someone needs to pay for all of

And here we go again to try to make new highs. I think it is amazing that once the $SPY and the market in general reach a level where most traders see on their chart that the markets are overbought, but no one wants to look foolish and call it. You know what? I feel

$SPY another decent size gap, and no moving averages suggesting that there is nothing holding this market from making new highs. Still I believe that we are currently making a wide top that could last another 6 month to form entirely, and when it does, we are most likely to experience another major drop in

$SPY gaping higher after Friday's sell off. I want to watch closely what will it do when it fills the gap left behind. Today the earnings start, and we will finally see if we are ready to make new highs, or will we start an early descent. There have been a lot of choppiness lately but we traders

Wow this just gets better and better on the short side. I hope my readers have realized the importance of having good levels in hand, and how individual stocks have been showing weakness lately. I personally don't write any of these posts to prove anyone wrong, I like to help you all anticipate a bigger

As I was reading yesterday $SPY read, I came upon a phrase that defines what happened yesterday. "Eventually the pullback is going to be imminent, and in my own opinion it will be cruel." I seriously was not expecting it to start yesterday. But when I was looking at my targets and support levels, I

$SPY gaping up again, and now going to no man's land. So it is practically impossible to have a target for the day. But from the economic data we can see that we are going to drag ourselves a little higher, but eventually the pullback is going to be imminent, and in my own opinion

$SPY gaping up again, but what no one is looking is the strength of the $FXY which represents strength in the Yen vs Dollar. Also the weakness in the financials as one can see in the $XLF. In the case of the $FXY, I am interpreting the formation of a head as I strongly believe an invert

I hope everyone had a great time this 3 day weekend with family and friends. So the $SPY closed on it's all time highs last Thursday. Again above my personal target of 156.45. This morning we are looking to make new highs. This morning we have The Institute for Supply Management will release the March

The theme continues to be the same for almost one month. We seem to be doing the longest inside trading day ever. Ever since we gaped up on March 5 and topped out we have been moving sideways ever since Will we finally break out of this range today and reach new highs? Or will