Fuinhaz $SPY read for May 22, 2013
Here I am again with my $SPX chart that I have been anxiously waiting to see it’s outcome.
The target have not changed. 1690.60. Something tells me that we will hit the brakes once that level is achieved, but one can only get really bearish if we break below the 23.6% Fibonacci level which is represented by the 1607.50 level.
They say that curiosity is what killed the cat, now I want to see if this rally can survive.
$SPY 1st support is 166.76, 2nd support 166.23 and 3rd is 165.79.
$SPY 1st target is 167.58 and 2nd is 167.80
Trade what you see, not what you think
Fuinhaz $SPY read for May 20, 2013
Don’t come in the market today thinking that by the end of the week you can run around naked on the streets or just your work office thinking that you will be so filthy rich, that the laws do not apply to you.
I do invite you all to check this S&P 500 Weekly Chart, and notice that we are very close to a mild correction, as we are about to reach the 1690.60 level on the $SPX which indicates according to history that today or at least this week will not be the same as the previous ones.
I continue to do what everyone else is doing, buying the dips, but I am very curious to see what will happen when we reach that mark. Until it happen, there is no change in the trend.
$SPY 1st support is 165.80, 2nd support 165.30 and 3rd is 164.53.
$SPY 1st target is 167.04.
Trade what you see, not what you think
5/17 Brysen’s Watchers
NO SETUPS I LIKE going to chill and watch intraday.
Sorry just dont see anything i like right now i have a lot of alerts still in play.
Brysen
5/16 Brysen’s Watchers
Hey MTT’ers
Fuinhaz $SPY read for May 15, 2013
$SPY made another new high yesterday, and on the pre-market it is holding the 1st short term Fibonacci level support on my chart. This 164.94 level is the fist support. Last afternoon it tested another support when we had a high of the day of 165.11. At that time of the day the current Fibonacci Support was at 164.80. It did hold that level, and then the end you all know. We shot up to close near the highs of the day.
It is nearly impossible to know when this crazy rally will stop, so the least I can do is to continue to draw these Fibonacci Lines, until we start to pullback. Once we do, it will be easier to know or to better understand how low we may go. So hang in there reader, I am not bearish until I see a clear signal.
$SPY 1st support is 164.10, 2nd support 163.67 and 3rd is 163.10.
$SPY 1st target is 165.35.
Trade what you see, not what you think
