$SPY opening slightly higher after a 3 day weekend. It seems that many traders are looking the Office Depot $ODP, and Office Max $OMX deal. As for me, I am looking at 152.74 level in the $SPY if indeed we break out higher. Last week everything seemed like we were finally losing the steam, but apparently all that the market needs is a couple of days off.
The $SPY 151.47 level is slowly drifting away, but that is still what I am focusing on.
$SPY 1st support is 151.80, 2nd support 151.42 and 3rd is 150.85.
$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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