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    Fuinhaz $SPY morning update for July 6, 2012

    $SPY doing everything I expected and more. I am being very patient, and ready to go long soon. It is not gong to be a multiple day kind of long action, but going to try to pick the ones with the biggest possibilities. I am watching for the following prices $CAT 83.80, $WLT 42.70 (This

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

    $SPY taking a huge hit this morning as traders are selling the news, even though The unemployment numbers came in line with just 10,000 shy of estimate. Unemployment stays flat at 8.2. I think this is very positive, but an eventual sell-off was due. Everyone that follows the McClellan Oscillator saw that. $SPY 1st support

    By |Published On: July 6, 2012|0 min read|
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    Fuinhaz $SPY afternoon update for July 5, 2012

    $SPY trying it's best to stay above 137, but many good runners lost their shoes and gave back some significant value. If we can't close above 137.09, we might have some trouble going into tomorrow's number. Doesn't matter how good or bad they are. Today was an average day. I had one nice win, one

    By |Published On: July 5, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 5, 2012

    $SPY having a lot of trouble getting over the 137.09 level which is the pivot point in my chart. Many stocks I am watching are struggling to get over new resistance levels, and the ones that are making, are not moving that much much, so thinking we are still drawing the same scenario as Tuesday

    By |Published On: July 5, 2012|1 min read|
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    Fuinhaz $SPY read for July 5, 2012

    First of all, I hope everyone had a wonderful 4th of July holiday. It just felt great to have one day off in the middle of the week. $SPY opening under 137 (as I write this post), and the NYMO (McClellan Oscillator finished on the highest level I have seen in one year, meaning we

    By |Published On: July 5, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 3, 2012

    $SPY reached my second level, but in ultra overbought position, with huge resistance here at 137.64. It can continue to go yes, but in my opinion this is a 4th of July run. And everything will be giving back on Thursday when the hang over settles in. Every on my watch list is just going

    By |Published On: July 3, 2012|0 min read|
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    Fuinhaz $SPY read for July 3, 2012

    $SPY opening flat on this 1/2 day. Market in general still in the overbought territory according to the McClellan Oscillator, so maybe fireworks to close the day nice and neat for the 4th of July, but I do expect us to sell and close lower sometime before Friday. $SPY 1st support is 135.61, 2nd support

    By |Published On: July 3, 2012|0 min read|
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    Fuinhaz $SPY afternoon update for July 2, 2012

    $SPY on the past 1 hour have build on my view and understanding a Head and Shoulder pattern, that even my trading colleagues were having trouble seeing. I had some of them saying that they were seeing on a 15 min chart, so I sent them this chart to help illustrate. So far it is

    By |Published On: July 2, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 2, 2012

    $SPY just did not made it to the 136.69 level as I suggested in the $SPY read, and is now falling apart. Being short today for now is the best position one can take. There are some names that fell a lot already, But we are stabilizing here just under the 135.77 level. At least

    By |Published On: July 2, 2012|1 min read|
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    Fuinhaz $SPY read for July 2, 2012

    $SPY opening just a bit higher, I am looking for it to reach 136.69 which is the next break out level on my charts. Honestly I think it will be hard (but not impossible) since the McClellan Oscillator is again above on the overbought territory, so I am more inclined to a pump and dump

    By |Published On: July 2, 2012|1 min read|