$SPY opening lower today (no surprise from my part). I personally don’t even know how to describe how stupid this past three day rally were. Absolutely no news, again I am still looking for more upside, but it better come with something sustainable not just someone waking up in the morning and decide to turn the bots to run strong.

These are the news running the markets. Second-quarter productivity rises more than expected, up 1.6%; unit labor costs rise 1.7%. Ok productivity rising is good. This should be enough to keep markets going right?

Wrong.

This is what really matters and it is what will make us drop today.

– France’s Rich Prepare to Flee Country on 75% Tax Rule. This is what socialism does, take the most they can to feed a nest of uneducated civilians that have been wired to depend on the state and becoming worthless parasites. The point is very simple. I don’t need to work, the state will take care of me anyway. Look at Cuba. I said look because they can’t read.

Now let’s go to the numbers.

$SPY 1st support is 139.16, 2nd support 138.93, and 3rd is 138.55.

$SPY 1st target is 140.16 , 2nd is 140.54 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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