Thx God this month is over. It was not an easy month for me, some confusion, but I am happy to say that even with some bumps, I believe I did a pretty good job pointing where this market is going overall.

Today may be the begging on a new leg higher for the markets, the news in Europe are looking very promising. And now it is up to our fed to give us a good speech that will lead us higher. Again I do not expect him to talk about QE3, but for him to say that the fed is ready to act if necessary.

If for some reason he says something different than this, please expect us to drop hard and probably fill all the gaps left behind.

The thing that throws off the market are the traders that got used to the free money, so they try to pressure others to do the same, but we all know that at the end, this is not the best solution, it is just a way for us to kill what took years to build.

Also one thing to keep in mind is that foreign investors like to be able to park their money abroad to escape their current country problems. If the United States can provide that kind of stability, it is most likely that people will park their money here than anywhere else. So cocky traders, please think about that.

$SPY 1st support is 140.86, 2nd support 139.84, and 3rd is 139.31.

$SPY 1st target is 142.26 , 2nd is 142.71 3rd is 143.55, and 4th one just for fun is 144.10.

Trade what you see not what you think.

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