Daily SPY Read

$SPY now getting exhausted here after reaching my 1st target @ 135.70. I am already looking for some short here, since I think we give some back before the end of the day. We are not going to give much back, but the head and shoulder pattern that I mentioned in the morning, did played

$SPY trying to reach 135.70 level, but still having some trouble. The key level to watch now is the 135.13 level. If that is broke, we might re-test the 134.85 support. I am actually looking for the $SPY to do an invert head and shoulder pattern. It doesn’t look anything like that for now, but

First of all, I have to say that i think someone in the EU committee must be reading my posts, and did the right thing so I can look bad. :o) . Anyway, it was nice to go to sleep last night knowing that we would have an explosive day, and since next week will

$SPY trying it’s best to stay above 131.85. Remember a close above 132.18 is very bullish, but a lot of uncertainty is letting a lot of believers get stopped flat, or with small losses. A close under 131.39 is very negative. I missed a great opportunity shorting $VRTX today under 54. That is a stock

$SPY holding a level where or everything can go wrong, or we should see a mild rally into the close. I am watching a lot of names that dropped, and are now looking like great opportunities, as we are starting to make a mild move. Name like, $SLV, $MCP, $WLT, $BTU. The coals I am

I rudely mentioned on my twitter a couple of days ago that the EU summit was just going to be a nice dinner, and that nothing would actually be decided. And guess what this is exactly what happened. Pre-market is down and $SPY wants to re-test those lows. I cannot emphasize enough how hard