Daily SPY Read

$SPY gapping a bit higher, but not enough to convince anyone. The $NYMO (McClellan Oscillator) closed last week with a pattern that have been repeating for the past 1 month and 1/2. Will it do the same? Well I have to say that there is a good chance it will. The only thing I have to

$SPY gaping lower again, but feeling that this 137.67 Fibonacci retracement level, can be a good entry level once it crosses. So I am going to keep it simple by saying that I will most likely buy some longs today. Some names on my list are : $CAT, $MRO, $BTU, $UPRO. $SPY 1st support is 137.25, 2nd

Market trying to bounce after yesterday's extraordinary and long waited sell off. Today's economic data show that jobless claims fell by 8,000 to 355,000, and the trade deficit came lower than expected at $41.55 Billion in Sept. That is all very interesting, but as I mentioned ysterday, I like to follow what the charts are

Differently from everyone, I still feel a huge disconnection from the market and the news. I know that the elections are significant to the market mood, but the charts don't lie. If I was hidden in a cave in the Himalaya with my neighbor Yeti, and had no access to CNBC (thx God), and could only rely on my charts, I

First of all, I want to remind and urge everyone who is registered to vote, to go ahead and do it. This is your chance to have a say, don't complain after. If you are not sure where you have to go please text "where" to RTVOTE (788683) to find your polling place. Election information

$SPY sliding just a bit, but the $NYMO (McClellan Oscillator) is a better tell. The chart shows that this down move is not done, so I am expecting 1 to 2 more days of drama. And needless to say that all this drama is due to the elections tomorrow. I hate polls they don't help anything

$SPY exploding above the 143.19 Fibonacci retracement level I have been talking about so much. And that after the jobs report came with and improvement in October with 171,000 new jobs but the unemployment rate moved higher to 7.9 percent. Above that 143.19 level, the next break out level is 143.55, and as I write this

$SPY opening pretty much flat as the private sector created 158,000 jobs which is way better than expected in October. Jobless claims edged lower and productivity rose  more than expected. Over in Europe things continue to deteriorate  and our economic data and the upcoming elections is helping us shadow their problems. We are currently in the

I hope this post will find everyone well and mostly in shape without major problems after the horrible hurricane sandy we had on Monday/Tuesday here on the east coast. Thanks God that for me who lives in the Philly area, the only thing I saw regarding the hurricane was a lot of wind and heavy

When I woke up this morning at 5 am, I was delighted to see that the $SPY was close to the second Fibonacci Retracement level (140.14), only to get myself ready to write this post and see that the GDP improved 1.3% from April to June. That have brought the slide in the $SPY into a stand still. I