Daily SPY Read

$SPy failing to hold the 141 level. So far as I write this, the $SPY just filled the gap from yesterday 140.77. The correct way is for this market to sell a bit. It should not be an extensive correction, just a breather. Hopefully we get under 140.55, and gap down tomorrow. That should be

$SPY flirting with with VWAP 141.09. Backed up from today’s highs. Overall it is clear that the market is exhausted, most of the commodity names that were doing so well the past week, are not down significantly from today’s highs. The $SPY is now showing a clear invert head and shoulder pattern. well that will

$SPY flirting with with VWAP 141.09. Backed up from today’s highs. Overall it is clear that the market is exhausted, most of the commodity names that were doing so well the past week, are not down significantly from today’s highs. The $SPY is now showing a clear invert head and shoulder pattern. well that will

Finally a catalyst to make this market move. The move started as Europe strengthened the case for further stimulus measures from the region's policy makers and following better-than-expected retail sales data in the United States. These are really great news, but I am really curious to see how the $SPY will react at the big

Finally a catalyst to make this market move. The move started as Europe strengthened the case for further stimulus measures from the region's policy makers and following better-than-expected retail sales data in the United States. These are really great news, but I am really curious to see how the $SPY will react at the big

I noticed a possible head and shoulder formation on the $SPY a couple of minutes ago. Here is the chart. I share the sentiment with many other people I trade with that a pull-back is indeed in sight. There is only so many times the $SPY can test a level and defend it. I do

I noticed a possible head and shoulder formation on the $SPY a couple of minutes ago. Here is the chart. I share the sentiment with many other people I trade with that a pull-back is indeed in sight. There is only so many times the $SPY can test a level and defend it. I do

$SPY popped, and sold off hard unexpectedly. Finally what every trader was looking for a week seem to be turning true. But amazingly, it happened too fast, and we are now looking like we could bounce. Even if we do, the bounce would only give the newer traders the sense that this is a buy

$SPY popped, and sold off hard unexpectedly. Finally what every trader was looking for a week seem to be turning true. But amazingly, it happened too fast, and we are now looking like we could bounce. Even if we do, the bounce would only give the newer traders the sense that this is a buy

$SPY opening flat, keep in mind that we have 2 resistance levels that needs to be watched. The first one is the 140.92 level from last Tuesday 8/7/2012, and a really big one at 141.66 5/1/2012. I have been reading on the Twitter stream that other good trades are also looking at these resistance levels.