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    Fuinhaz $SPY morning update for July 12, 2012

    $SPY and the bulls are doing their best to make this 6 day sold market bounce with the expectation that the initial claims will help us find some traction. There is a huge possibility for that to happen, but we all know that the market loves to play with us, so I urge readers to

    By |Published On: July 12, 2012|1 min read|
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    Fuinhaz $SPY read for July 12, 2012

    $SPY gapping down, evenbthough the initial claims dropped 26,000 to a seasonally adjusted 350,000. Meaning that this gap down, could become a nice bounce since the $SPX is going for a 6th day drop , which would be one of the longest ever registered. I advised in the beginning of the week of all this

    By |Published On: July 12, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 11, 2012

    $SPY tanked around 2pm, but still held above 133.15 level which is a good support for the day. It would be great to finish today above 134.69, which would put the $SPY above the pivot point, that would help us catapult to the next level. Personally I think that one should understand that we waiting

    By |Published On: July 11, 2012|1 min read|
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    Fuinhaz $SPY read for July 11, 2012

    $SPY opening pretty much flat. Today we have Fed's minutes. It is just a detailed version of what was said on the last FOMC meeting. I have to confess that I was a bit shocked when the $SPY dropped under 133.91. But eventually it bounced back as I was expecting. That is one thing about

    By |Published On: July 11, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 10, 2012

    I say cover your shorts for the day, This market is going to come back up hard in my honest opinion. That pattern I called for on the morning update, could continue to unfold tomorrow. I saw a lot of my colleagues pounding on shorts as $SPY touched just 1 cent from my 3rd support

    By |Published On: July 10, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 10, 2012

    $SPY did just what I was looking for in the morning update. Dropped to 1st support and re-tested 20ma, and now having some trouble to clear 135.15 which is the current pivot point. My expectation is for it to fail this level, drop again and slice through the 20ma and find support again @ 134.30ish

    By |Published On: July 10, 2012|1 min read|
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    Fuinhaz $SPY read for July 10, 2012

    $SPY did the inverted head and shoulder pattern as I explained in yesterday's Fuinhaz $SPY afternoon update for July 9, 2012. Today we have a follow through that will caught many shorts and some bulls kind of late. Remember what I wrote yesterday on the Fuinhaz $SPY read for July 9, 2012. That we are in a

    By |Published On: July 10, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 9, 2012

    $SPY in my interpretation doing an invert head and shoulder on a 3 mind chart. I do think we will have an end of day run back to 135.39 level. We did hold well the 134.80 (20ma) level today so I am looking for a relief rally, that could be starting today and maybe extend

    By |Published On: July 9, 2012|1 min read|
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    Fuinhaz $SPY read for July 9, 2012

    $SPY opening flat after last Friday’s sell off. I personally don't think this sell-off is over, but may get some relief today. The idea today is to watch the pivot points (resistance and support levels). One other detail to keep in mind, is the fact that since we are in an overbought kind of market,

    By |Published On: July 9, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 6, 2012

    Market is looking ready for an end of day run in my honest opinion. There is a good possibility that it will trap those who went short under 134.90 (20ma). That is my perspective. All it needs to do is go over 135.17 with some serious volume, and catch everyone off guard. If it doesn't

    By |Published On: July 6, 2012|1 min read|