Fuinhaz $SPY morning update April 18th, 2012

$SPY bounced on a level that I did see this morning the 138.35, but I did not mentioned it because if it gets tested twice, it usually breaks below.

$SPY staying above 1st target of 138.88, but I am noticing that most of the names I have on my watchlist are slowly dipping to my target. everyone but $MUR. So I still have the expectation of those entries being filled.

I will continue to watch the market closely, and I am expecting the 1st support if tested to hold pretty well.

Keep in min that if we break out from the 138.88 and also that 139.25 – 139.30 level, we will probably close around 139.64. Any move under 138.75, can make us re-test the lows, and possibly hit 1st support very fast.

May you all have a good continuation of your day.