Daily SPY Read

$SPY gaping down after we touched my 151.47 level yesterday in the late afternoon. The $NYMO (McClellan Oscillator) is back to a neutral position, giving us enough downside for the pullback to be played, but also giving us a ton of space to rip out any tops we have recently made. I know, I have been calling

Today's gap in the $SPY is a no brainer.  I will be looking for the pop to top out around 150.70 (give or take). In that case the $SPY will form the other shoulder of the pattern and we finally drift down to complete the 2.5-to 3.5% pullback that I have been talking for a

$SPY gaping down 1 point, and even though I may have been sounding like a crazy bear, I want you all to know that I am basing my analysis on pure chart analysis. I know it is not easy calling a top. In no way I am trying to do that, but my idea is always to protect the

$SPY opening with a monster gap up and indeed making what I wrote yesterday look like garbage. But in order for me to be absolutely wrong and I have no problem assuming my mistake, we have to break above 151, and onto new highs. I am still counting on the possibility of this to be a gap

Market finally pulled back after the the $SPX reached it's 23.6% Fibonacci retracement level. I did posted this chart on my $SPY read on January 29 2013. But I am to re post the current chart so you all can see how important these levels are and why they can help you time into going in or out

$SPY opening flat after durable goods came below expectation. Today we have to keep in mind that the fed will come and talk about the economy since we all know that the interest rate will not change. If this market ramp up again today like it have been doing on the last days I will

Today we are looking for a negative open which does not surprise me at all since yesterday I started to notice a different $SPY from the previous week. For the next two weeks we should expect the market to pullback about 3% before we climb back to make new highs, and close this run around

$SPY pretty much flat. $CAT came out with earning this morning, and Durable goods rose spending surge. On Wednesday we have the FOMC rate decision, so since we know that the rates will not change, let's just wait for the fed to say something that we don't know like when was the last time he

Another $SPY gap bonanza. From a $NYMO perspective, this market will take a long time to top out. When I saw yesterday's drop, and when it held 149, I said to myself. This was just too good to be true. I had to reset my Fibonacci Levels yesterday, since they did not mean anything usable

Market opening flat, thanks to the steady move lower in the jobless claims. The Apple ($AAPL) earning did little to the market in general. That means that the market is finally disconnected from it, and whatever happens to it is now their own misery, and not of the whole market. I am really busy this