Daily SPY Read

I really thought that yesterday was going to be the day we reached 156.45 in the $SPY, but no, we sold off. This morning we may have another chance as today's economic data show that retail sales increased 1.1 percent, the largest rise since September, after a revised 0.2 percent gain in January. The rest of

The $SPY closed .42 cents shy of my 156.45 target for the year. I compared my expectation with other highly intelligent ANALysts, and I am pretty much in the ball park. 2013 S&P Targets Wells Fargo 1,390UBS 1,425Morgan Stanley 1,434Deutsche Bank 1,500Barclays 1,525Credit Suisse 1,550HSBC 1,560Jefferies 1,565Goldman Sachs 1,575BMO Capital 1,575JP Morgan 1,580Oppenheimer 1,585BofA Merrill

$SPY opening pretty much flat, after it's monster run last week. I still think we will reach that 156.45 level, but maybe we will chop for a while. The $NYMO (McClellan Oscillator) is showing itself like I expected. Moving towards the over bought territory, one good market green day at a time as I illustrate here. In

$SPY ripping after the jobs report came better than expected, putting the rate of unemployment at 7.7%. So far my 156.45 target is within reach, and today's rally will contribute a lot to the $NYMO that should have an explosive push towards the overbought territory. I did read an interesting interview with Nouriel Roubini this

$SPY popping after initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 340,000. On other news the Labor Department said that productivity fell at a 1.9 percent annual rate, the weakest pace since the fourth quarter of 2008. And on top of that in Europe, even though they have a 11.6% unemployment

$SPY popping after initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 340,000. On other news the Labor Department said that productivity fell at a 1.9 percent annual rate, the weakest pace since the fourth quarter of 2008. And on top of that in Europe, even though they have a 11.6% unemployment

$SPY gaping again today, so far everything looking like we are heading to that 156.45 level I mentioned yesterday. Even the $NYMO McClellan Oscillator have move nicely to the 1/3 position towards overbought, which means that if we have 2 more days like we had yesterday, then we will reach the over that level, and things need

$SPY reaching new highs, and to be honest I am very excited since I see what this market is doing. I have a current theory that on a daily chart, one could assume that a head and shoulder formation is actually starting to form. It is not going to form overnight, but it is there.

So come Monday and we are in full sequestration mode. Maybe the reason the market is looking for a serious and who knows long pullback. I have not talked for a while about these other 2 indicators I have been using. The $FXY and the $XLF. The $FXY have been trying to stay above the

I want to excuse myself today for not being able to write a full post since I have to leave early for a 9am appointment. But I want to leave you with just one important point. It is crucial that once we get to the 150 level today in the $SPY that it breached and