Fuinhaz $SPY read for January 16 2013

From SharePlanner
January 16, 2013 - 9:41am

$SPY gaping a little lower. Very tough situation as the banks have done really well on earnings specially $JPM and $GS. The next break out level for the $SPY as it sits here at 146.54 is 146.84. So that is the level I will focus most today. A move above that level, and I think that the 45 day prediction will last a little more than I predicted. $SPY 1st support is 145.89, 2nd support 144.64,and 3rd is 144.44. $SPY 1st target is 146.84, 2nd is 147.60, 3rd is 148.68, and 4th one just for fun is 149.20. Trade what you see not what you think.


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