When I woke up this morning at 5 am, I was delighted to see that the $SPY was close to the second Fibonacci Retracement level (140.14), only to get myself ready to write this post and see that the GDP improved 1.3% from April to June. That have brought the slide in the $SPY into a stand still. I still believe we touch that level before we move higher.
$SPY 1st support is 141.01, 2nd support 140.21, and 3rd is 139.71.
$SPY 1st target is 141.56, 2nd is 142.26 3rd is 142.71, and 4th one just for fun is 143.55.
Trade what you see not what you think.
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