Fuinhaz $SPY read for December 31 2012
December 31, 2013 - 10:28am
First of all I want to express what a wonderful year I had. It has been a pleasure to help you all out with the stock market. I hope I was able to dismistify or at least give you all another view from the one you were used to. I wan to wish everyone a 2013 full of great moments both with your family, friends, and financially. That all or most of our dreams come true.
Fiscal cliff, this is the only thing I hear about. Today is the famous deadline, and this time I am in doubts any kind of decision will come. But even if any decision comes or not, what are the charts really saying?
Well for starters we can talk about the $SPY and It is now just under the 2nd Fibonacci retracement level of 140.10. As long as we can move anything above this level, bulls should come in. At this point I would not be surprised at all if we have a deadly sell off at the open, and we hold the 3rd Fibonacci re...Continue reading this article »