I really thought that yesterday was going to be the day we reached 156.45 in the $SPY, but no, we sold off. This morning we may have another chance as today’s economic data show that retail sales increased 1.1 percent, the largest rise since September, after a revised 0.2 percent gain in January.

The rest of the world sells off, but we go higher, how curious is that. Well truth is that the United States is still the best place to do business in my opinion. Other countries may have their 15 minutes of fame, but like I have said in so many other posts, none of them had gone through the end of the hole, and back like the US have in previous historic events.

I may sound really patriotic, but that is simply the truth.

There is going to come a day where this market will reverse back down for a breather, but until then focus on the trend, play long and short accordingly, but don’t overdue it until you see clear signal that we are really heading down.

A trader with discipline can never make the same mistake twice. The second time is not a mistake, it’s his/her choice.

$SPY 1st support is 155.43 2nd support 155.12 and 3rd is 154.52.

$SPY 1st target is 156.45, 2nd is 156.70, 3rd is something we have never seen it before.

Trade what you see not what you think.

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