$SPY gaping higher after yesterday’s reality check. The whole world waiting for a piece of land of about 3,572 sq miles to decide it s fate. I hope their 15 min of fame with be fast and furious. We all know that those Socialist countries don’t have a lot crisis management, and are probably thinking with their individual pockets instead of fixing their current situation.

So here is my take. I bet they don’t decide anything as they depend on Germany to tell them what to do. In the mean time, talks will start about kicking them off the Euro zone, and all the negative news that come with it. So I am more prone to the market to sell after the news come out. This will be just a good opportunity for bear to reload on short positions.

Again, I urge people to wait for confirmation, instead of just starting to short at the open, and get their head handed to them ate the end of the day. Keep in mind that the economic news here in the US where good. So be cautious, and play your setups correctly.

$SPY 1st support is 155.13 2nd support 154.71 and 3rd is  154.40.

$SPY 1st target is 155.55, 2nd is 156.45, 3rd is 156.80.

Trade what you see not what you think.

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