I want to excuse myself today for not being able to write a full post since I have to leave early for a 9am appointment. But I want to leave you with just one important point. It is crucial that once we get to the 150 level today in the $SPY that it breached and some kind of flush would take us to at least close under that level. The reason is that if we bounce at 150, a weird inverse head and shoulder pattern could be forming on the 15 min and hourly chart.
If you wen in short yesterday when I tweeted about a double top in the $SPY, then you are one happy camper today. All you need to do is to manage that position, and thrive.
$SPY 1st support is 150.04, 2nd support 148.47 and 3rd is 147.47(Fibonacci Level).
$SPY 1st target is 152.32, 2nd is 152.74, 3rd is 153.60, and 4th one just for fun is 154.46.
Trade what you see not what you think.
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