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    Fuinhaz $SPY read for August 30, 2012

    As we are currently hostage of one man's speech, I would like to make some important reminders of some the things I have written lately. On July 26, I wrote the following paragraph. "We did hold the 50MA, now bulls just need to step in and take control again. I am not trying to call

    By |Published On: August 30, 2012|3 min read|
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    Fuinhaz $SPY read for August 29, 2012

    $SPY opening slightly higher as GDP expanded at a 1.7 percent annual rate that was up from last month's 1.5 percent estimate and in line with economists' expectations. The economy grew at a 2.0 percent pace in the January-March period. We are still to hear some news from the Jackson Hole meeting, and that will

    By |Published On: August 29, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for August 28, 2012

    $SPY stuck in the 141.50s level. Holding most of the names I follow hostage, and not moving either way. I spent the day scanning and watching for names to break up or down. I did missed an awesome trade in $MON and $CNX. Tomorrow we have GDP, Pending Homes, Fed Beige-book, and crude inventories. A

    By |Published On: August 28, 2012|0 min read|
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    Fuinhaz $SPY morning update for August 28, 2012

    $SPY in a very tight range. Flirted with breaking the 141.54 level. tried it and failed. Market is clearly waiting for new out of Jackson Hole, so we may be in for some side way action in the next days. We need a catalyst, and it is just not coming. This makes trading very hard

    By |Published On: August 28, 2012|1 min read|
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    Fuinhaz $SPY read for August 28, 2012

    $SPY opening lower, but still following what i wrote yesterday regarding the invert head and shoulder pattern I detected on a 15 min. chart. I think that if we bounce from the open, we will most likely make a new high today, or until something comes out of the Jackson Hole meeting. Keep in mind

    By |Published On: August 28, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for August 27, 2012

    $SPY setting up for a possible gap down, followed by a strong break out tomorrow. That will mostly happen if we finish just below the 141.56 level. So far I have been noticing a lot of range bound action, but on a 15 min chart, It looks very much like the $SPY is building an

    By |Published On: August 27, 2012|0 min read|
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    Fuinhaz $SPY morning update for August 27, 2012

    $SPY just broke the 141.54 level. The volume is not that impressive, but so far it is being able to move back and maybe we will re-test the highs of the day. Again we are moving on no real news. I would like to remind everyone that the main news I read is that at

    By |Published On: August 27, 2012|0 min read|
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    Fuinhaz $SPY read for August 27, 2012

    Last week of the months, and $SPY showing some strength ahead of the Jackson Hole meeting. Many still eager to hear any sign from the fed regarding QE3, but this news should fade soon. Last night, China closed on it's 2009 lows, making the commodities pop this morning a must watch in my opinion. If

    By |Published On: August 27, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for August 24, 2012

    $SPY tried again to break out, but $IWM, just can't get over 81.06. As I write this, the $IWM is trying again, and the $SPY is almost above 141.51 (remember 141.56 is a major break out level according to my $SPY read). The correct action is for us to tap this break out, and eventually

    By |Published On: August 24, 2012|1 min read|
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    Fuinhaz $SPY morning update for August 24, 2012

    $SPY dropped in the morning, tested the intra-day support @ 140.25, and broke out with a lot of strength over the 141 level. The only problem I have with this sudden break out, is that the $IWM could not break out the 81.06 level. and that raises some concerns going long. So I advise caution

    By |Published On: August 24, 2012|1 min read|