$SPY opening positive. No fireworks like last Friday, but from my perspective we have a good chance of going much, much higher from here. Remember there will be a couple of day where things will look like it is the end of the world, but then we just have to get ready for that certain day.
Th news today are brief. The Knight Capital ($KCG) fiasco last week was just mind blowing, and I hope other HFT (High Frequency Trading) market manipulators come down, and make this market sane again. I can’t believe they found $400 Million to save themselves.
Overseas, Spain is still the main problem. I do think that eventually they will give those afternoon nap takers a bail out, but we got to make sure that they lose some sleep before.
$SPY 1st support is 139.36, 2nd support 138.34, and 3rd is 137.37.
$SPY 1st target is 140.16 , 2nd is 140.64 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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