Fuinhaz $SPY read for April 11 2013

Another gap up, the infinite rally is on, and it will only stop when it got every retail investor on board for another extraordinary, monumental, legendary pull of the rug.

Yes, it will happen, it will crush many people again but as long as traders, and institutions continue to thrive on their everyday activities, someone needs to pay for all of our success.

Yesterday I talked about us continuing to get to new highs, eventually with some pull backs. That theme is still on and very lively. The only correction I want to make is that during yesterday’s blog, I mentioned that it would last 9 months until we really correct. I actually meant to say that 6 months. The 9 months period was from the beginning of the year.

What I curious to see is that the new crisis will probably start on the year that Brazil emerging market country (I actually like the term 3rd world country because that is what it really is) will be hosting the Soccer World Cup. And in 2016 years later, they will host the Summer Olympics.

The point I want to make is that the next bubble in my view will be the failure of the emerging economies all together, and it will start when these countries think that they are at their best time ever.

But there is nothing more down to earth than the market to put them back into reality. I know it is a bit sadistic to say all this, but I am originally from Brazil, and I know that they are not ready to host anything. Like their biggest festival Carnaval, it is all just a nice mask that they are putting on to fool everyone.

Fool me once, shame on you, fool me twice shame on me.

$SPY 1st support is 158.43 2nd support 157.73 and 3rd is 157.09.

Sorry, but I don’t have a target for the $SPY. An educated guess would be 159.38.

Trade what you see not what you think