Daily SPY Read

$SPY dropping as global growth confidence loses steam. The $NYMO (McClellan Oscillator) is sitting just above neutral, so one can interpret this in two ways. Or it will break out again, and we move higher, or this we are about to start a new range. And this neutrality will be the current top. Keep in mind

$SPY roaring as non-farm payrolls are up by 114,000 in September, the unemployment dropped to 7.8%. We also have news from Europe saying that it plans buy a heavy amount of bonds for the next 2 months. The only thing that actually made me laugh is the fact that the Spanish finance minister Luis de

$SPY gaping higher after ECB left the rates at 0.75. So pretty much unchanged. Initial claims for benefits climbed 4,000 to a seasonally adjusted 367,000. As I write this the $SPY popped to a break out level of 145.78. We need to see if has any follow through or it it will be a major resistance today. $SPY

I would like to apologize for suddenly disappearing, but I decided to take one week off with my family. It was much need and it was fantastic. $SPY opening higher as traders expect the Spanish government will soon request a bailout, a step necessary to alleviate the euro zone's debt crisis. All I got to say about this

$SPY opening flat. Keep in mind that today is options expiration, and a quadruple witching. A quadruple witchng for those who don't know is a day on which contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire. Read more: http://www.investopedia.com/terms/q/quadruplewitching.asp#ixzz276mebks1   With that in mind please expect a

$SPY taking a big hit as jobless claims dropped less than expected. The data shows that the claims are down 3,000 to 382,000 while analysts expected 373,000. The second important news came from Chinese manufacturers and the policymakers who are unsure if the world's second-largest economy will feel compelled to follow the global rush of

Dear readers, I want to excuse myself from not presenting you all with a $SPY read yesterday. I went in for a regular check-up and received great news that I am 100% healthy and that I will be able to push myself a little harder on my bicycle. Last night the Bank of Japan became the

$SPY opening slightly lower this morning. Still not enough to scare the bulls. Now that the fed started QE3, all the news from Europe so far will be seen as a good opportunity to buy the dips. And the US is taking advantage of their misfortune to attract buyers, so the idea is best described

Wow we did get QE3 after all. I am speechless. I thought that we could make it without it, but apparently the move was more political than actually economically needed.Anyway I am going to keep this brief, and just give out the numbers today. $SPY 1st support is 145.01, 2nd support 144.65, and 3rd is

I want to apologize since I got the wrong day for the fed decision. It is actually today, not yesterday. But believe it or not, the message and levels are pretty much the same as yesterday. The only difference is regarding today's economic data. Jobless claims rose more than expected, up by 15,000 to 382,000 and