$SPY gaping a little bit even after economic data showed that retail sales fell 0.3% in October and PPI Down 0.2% instead of the 0.2% rise that was expected. As I write this the $SPY is just under 138.28 which have been proven to be a good b/o level, but the 138.88 is the big kahuna. So I will be watching them. Overall I am still bearish. The $NYMO (McClellan Oscillator) just tested a triple low for the past month showing that if things don’t get better, we are most likely heading to the oversold section of the oscillator, before we get a nice bounce.
Now let’s go to the numbers
$SPY 1st support is 137.59, 2nd support 137.10, and 3rd is 136.74.
$SPY 1st target is 138.28, 2nd is 138.88 3rd is 139.25, and 4th one just for fun is 139.64.
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