First of all I want to express what a wonderful year I had. It has been a pleasure to help you all out with the stock market. I hope I was able to dismistify  or at least give you all another view from the one you were used to. I wan to wish everyone a 2013 full of great moments both with your family, friends, and financially. That all or most of our dreams come true.

Fiscal cliff, this is the only thing I hear about. Today is the famous deadline, and this time I am in doubts any kind of decision will come. But even if any decision comes or not, what are the charts really saying?

Well for starters we can talk about the $SPY and It is now just under the 2nd Fibonacci retracement level of 140.10. As long as we can move anything above this level, bulls should come in. At this point I would not be surprised at all if we have a deadly sell off at the open, and we hold the 3rd Fibonacci retracement at 137.65. At that level the $NYMO will immediately shoot down to oversold territory, and a deal will be done regarding the fiscal cliff.

Doesn’t matter if all this happens today or sometime this week, this is most likely how things usually goes. When everyone thinks it is the end of the world the charts will give everyone the right opportunity to buy, and those who know about these levels and the way they lign up will take the most out of it.

$SPY 1st support is 138.72, 2nd support 137.82, and 3rd is 137.31.

$SPY 1st target is 140.16, 2nd is 140.64, 3rd is 141.12, and 4th one just for fun is 141.56.

Trade what you see not what you think.

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