Daily SPY Read

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

$SPY pretty much flat and just shy of another break out level on my charts. One thing that I want to point out is that the $NYMO (McClellan Oscillator) is just a few small points of being on the overbought territory. Also another piece of information is that the $FXY (Currency Shares Japanese Yen Trust) is

$SPY a bit lower. Some earning this morning not coming as strong as people believed. And one news in particular have not found a lot of spectators. Caterpillar $CAT uncovered "deliberate, multi-year, coordinated accounting misconduct" at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of

Market flat after yesterday's amazing run to new highs. It did leave a lot of people skeptical like me of how much more power does this bull rally have under it's belt. The $NYMO did not shoot up significantly for us to call this market overbought. Financials did followed the run, and this morning most of the

Another gap up after the number of Americans seeking unemployment aid fell to a five-year low last week. The second good news is that home construction surged 12.1 percent in December. $SPY is opening above my 147.60 break out level, so that is the spot I will watch to see if it holds firmly. I know that my

$SPY gaping a little lower. Very tough situation as the banks have done really well on earnings specially $JPM and $GS. The next break out level for the $SPY as it sits here at 146.54 is 146.84. So that is the level I will focus most today. A move above that level, and I think that the

$SPY pulling back as expected. Many hurdles until this downfall is confirmed. But so far very pleased with my 45 day prediction coming to life. I see a lot of the names I like to trade starting to stall, and pulling back from last weeks highs. Again I need to see more selling to confirm

This is it, January 11 is finally here, and that ends the 45 day rally from November 16. The market S&P 500 is on a 5 years high so in my personal analysis this market needs a breather. But just in case today is not really the day, I want you to understand why. Remember

Another gap up, and $SPY looking for that 146.84 level. Th only problem I have with this level is that the following b/o levels are very far apart from each other and we are just one day away from my 45 day target. Before I get thrown any kind of criticism, I will say 45 days give

I tweeted yesterday that this still looked like a buy the dips kind of market, and that the 145 support did hold well. We are 2 days from my Jan. 11 target that represents the 45 day run from November 16. So this is where things start to look very tricky to the upside. I