$SPY gaping higher following both Asian and European markets. One cannot deny that the bears had a great chance to bring the market down, but with no success regarding a longer term move.

We did had a decent pullback, but once we tried to break under the 150 level, many decided to hold it by buying dips, and hoping to push these markets higher again.

The $NYMO is back to just below neutrality which hints that another push to new highs is quite possible, and with the $SPY above 151.47, I still have to rely mostly on my projected move that I talked last week.

The good news is that a lot of the talking heads on CNBC, and Bloomberg are talking about a pullback, but in my interpretation, one cannot believe these people until we actually break the $SPY 151.47 level, and the 150 buy the dips support.

$SPY 1st support is 151.66, 2nd support 151.16 and 3rd is 150.64 (Fibonacci Level).

$SPY 1st target is 152.74, 2nd is 153.60, 3rd is 154.46, and 4th one just for fun is 155.24.

Trade what you see not what you think.

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