Fuinhaz $SPY read for November 13, 2012

$SPY on pre-market have been holding the 3rd Fibonacci retracement level @ 137.67. One could assume that the open may lead us to test the next level at 135.21, or that we will stop just shy of it. The troubles in Europe are still far from over. I did read that the Spanish government ceased the act o throwing out people out of their home, because of the high levels of suicide.

I feel very sad to hear that, but I do not feel sorry since that is what a socialist regime does. It llude it’s people with the promises of making everyone equal, and that your government will be there for you when in fact that is not true. What your government should do is help motivate it’s citizen to get educated. And not hand in help in a way where people get accommodated and waiting for the bad weather to pass by.

I have said numerous times, that people in Europe are not used to get together and rebuild from the ashes. And the reason is because everyone waits for the government to do all the job. I am sorry but that is not how it works.

With that said, I would like to share a paragraph from Obama’s winning speech that Europeans will never hear from any of their so called leaders. The paragraph is inspiring and represents the values to continue to build a nation. A speech that open the mind of people and give them the hope and will to keep on trying.

And before I get attacked by my republican readers, I am sure that if Governor Romney would have won the election, that he too would have prepared a very similar paragraph in his speech.

“I believe we can build on the progress we’ve made and continue to fight for new jobs and new opportunity and new security for the middle class. I believe we can keep the promise of our founders, the idea that if you’re willing to work hard, it doesn’t matter who you are or where you come from or what you look like or where you love. It doesn’t matter whether you’re black or white or Hispanic or Asian or Native American or young or old or rich or poor, able, disabled, gay or straight, you can make it here in America if you’re willing to try.”

Barack Obama 2012 Winning Speech.

Now let’s go to the numbers

$SPY 1st support is 137.07, 2nd support 136.22, and 3rd is 135.18.