$SPY gapping a bit higher, but not enough to convince anyone. The $NYMO (McClellan Oscillator) closed last week with a pattern that have been repeating for the past 1 month and 1/2. Will it do the same? Well I have to say that there is a good chance it will. The only thing I have to revise is that the range that I was expected have now became much wider due to the drop last week. Nonetheless that range is so far still intact  so it is nice for traders to plan how they will trade. If the market is bullish traders will focus on those Fibonacci levels to be reached, and if it is bearish, we will look at them to serve as support.

For some reason I have an interest on $BA short this week. I am still studying the idea.

Please notice that there is a big gap today between 2nd and 3rd support. 

$SPY 1st support is 136.91, 2nd support 136.11, and 3rd is 134.51.

$SPY 1st target is 138.88, 2nd is 139.25 3rd is 139.64, and 4th one just for fun is 140.16 (Fibonacci Level).

Trade what you see not what you think.

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