And the market flipped on us again. Like many of my friends, I am getting the sense that this market is now being moving up with a huge help from the high frequency trading machines. These bots does not respect anything technical about the market, but I still find a lot of loopholes.

Unfortunately it is too much info to write in this daily blog, and I don’t want to bore new traders with too much information that may lead them to what they see on other site. I think that keeping it simple and pointing out levels is better than turning this into another boring site.

So the $NYMO (McClellan Oscillator) is back to neutrality, so we could go either way, and I am carefully watching the $SPY Fibonacci Level at 151.47. Anything under that and we could slide down. My 151.83 level was tested on Friday, and even this morning pre-market, but still it has not been breached.

Again I am anxious to see some kind of significant pullback, but I am not fighting the tape. The only problem I see is that the more it takes to pullback, when it does, it will not come back as easily. So the market makers never makes this as easy as 1, 2, 3.

$SPY 1st support is 151.30, 2nd support 150.43 and 3rd is 149.81.

$SPY 1st target is 151.83, 2nd is 152.32, 3rd is 152.74, and 4th one just for fun is 153.60.

Trade what you see not what you think.

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