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    Fuinhaz $SPY read for July 18, 2012

    $SPY opening lower even though housing starts rose 6.9 percent in June to a 760,000 units which is 15,000 more than analysts expected. The $NYMO (McClellan Oscillator) rose just a tiny bit from the previous day, and still showing a lot of upside momentum, and I think today will be like yesterday. a moderate drop, followed

    By |Published On: July 18, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 17, 2012

    $SPY trying it's best to touch 136.77 R3, I personally think it still can make it by the end of the day, but what an amazing run today. My only concern is that we may gap up tomorrow, and sell depending how high we gap, and if we gap. Remember everyone we are still in

    By |Published On: July 17, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 17, 2012

    $SPY doing a similar pattern as yesterday. I just too $CAT long @ 80.29. Stock spiked, and I set my stop @ b/e now. Maybe I should have taken it out, but giving the market the benefit of the doubt. As long as $SPY can stay above 134.91, all longs will work. A dip under

    By |Published On: July 17, 2012|1 min read|
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    Fuinhaz $SPY read for July 17, 2012

    $SPY opening higher dues to some modest news coming out of Europe, and Goldman Sachs $GS blowing out the doors on the earnings. Notice that even though we are in a tight range lately the market still is slowly climbing up as we get closer to the European meeting on Friday the 20th. Where we

    By |Published On: July 17, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 16, 2012

    $SPY trying to give all it's got to stay above  135.14 level, but there could be an invert head and shoulder pattern building on a 5 min chart. I just mentioned in one of the chat rooms that this market looks like a total mess. Trading on a thin range have these disadvantages. Today less

    By |Published On: July 16, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 16, 2012

    $SPY pulled back as if it was giving the dip buyers an opportunity. I took that opportunity and bought $CAT for a .20 cents gain. Could have been more, but money is money. $SPY got a lot of upside prospect, but it is imperative that it holds the 135.14 level. A failure of that level,

    By |Published On: July 16, 2012|1 min read|
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    Fuinhaz $SPY read for July 16, 2012

    $SPY opening lower, but I do believe it is a buy the dip kind of day. We had the news in Citigroup $C who reported quarterly earnings and revenue that beat Wall Street's expectations. We also had U.S. retail sales fell for a third straight month in June as demand slumped for everything. The $NYMO

    By |Published On: July 16, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 13, 2012

    $SPY reached R3 on 135.76. Could still run a bit, but any current strength should be shorted as a scalp trade into the close. This is not the time to get sucked in. What may look like a good and ideal position to swing, could drop on your head come Monday. We might run a

    By |Published On: July 13, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 13, 2012

    $SPY ran too much at the open, and so far 135.76 is resistance # 3, so I do think we might sell into the close. Please be careful with any longs. I do think that if you did not get long yesterday, you may be chasing today. Remember that according to the $NYMO (McClellan Oscillator)

    By |Published On: July 13, 2012|0 min read|
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    Fuinhaz $SPY read for July 13, 2012

    $SPY opening higher as a follow through of yesterday's bounce. We also had economic data coming out this morning Producer prices were up 0.1% which was above the expectations of 0.3% drop. We also had ex-food and energy up 0.2% which was in line with est. $SPY 1st support is 133.25, 2nd support 132.58, and

    By |Published On: July 13, 2012|0 min read|