Fuinhaz $SPY read for January 8 2013
January 8, 2013 - 9:58am
$SPY trying to pull the same stunt as yesterday. I think by now everyone is expecting the market to sell off at any minute now. But the question is. When will it happen? Well for starters, I had a Jan 11 target from the November 16 bounce. I mentioned that according to analysis made by @Legacy_Trades I plotted this prediction on my charts, and that is how I came up with that specific date. So I am still expecting a push higher on the market. Let's put this into better perspective, that we could be topping out here, and all the resistance we have been seeing on the past days help one form that distinctive idea.
$SPY 1st support is 145, 2nd support 144.62,and 3rd is 143.71.
$SPY 1st target is 146.13, 2nd is 146.84, 3rd is 147.60, and 4th one just for fun is 148.68.
Trade what you see not what you think.Continue reading this article »