Fuinhaz $SPY read for January 30 2013
January 30, 2013 - 10:13am
$SPY opening flat after durable goods came below expectation. Today we have to keep in mind that the fed will come and talk about the economy since we all know that the interest rate will not change. If this market ramp up again today like it have been doing on the last days I will be looking for the pullback to come once we touch the 151.47 level which represent the 23.6% Fibonacci level on my new study.
$SPY 1st support is 150.13, 2nd support 149.67 and 3rd is 149.31.
$SPY 1st target is 150.98, 2nd is 151.32, 3rd is 151.83, and 4th one just for fun is 152.32.
Trade what you see not what you think.
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