$SPY gaping this morning, and almost crossing the 142.71 b/o level on my charts. It seems that House speaker John Boehner is showing a positive attitude regarding the tax hike on the rich, but that is not what Europe and the stream is feeling. I do expect a pop and a sell off today. For this not to be true, I would have to see this market going over 142.71, and find no resistance at the 1st Fibonacci retracement level at 143.17. So a lot of drama for the end of the year.
$SPY 1st support is 141.74, 2nd support 141.08, and 3rd is 140.18.
$SPY 1st target is 142.71, 2nd is 143.55 3rd is 144.10, and 4th one just for fun is 144.60.
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