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Fuinhaz $SPY read for August 21, 2012
$SPY making a new high for the year, this time as investors continue to speculate on the prospect of the European Central Bank stepping strongly into bond markets. We also have Fed Minutes today, so don’t expect anything other than another up day today.
$SPY 1st support is 142.14, 2nd support 141.87, and 3rd is 141.43.
$SPY 1st target is 142.71 , 2nd is 143.55 3rd is 144.10, and 4th one just for fun is 144.60.
Trade what you see not what you think.
Ryan Mallory is the co-founder of SharePlanner Inc, a financial website devoted to Day-Trading, Swing-Trading (both long & short) and exchange-traded funds. Ryan makes a strong emphasis on risk mitigation strategies, trading transparency, and trader education – not to mention a great set of stock screens as well.
Be Sure to Check out Ryan’s Site at Shareplanner.com
2012-08-21 06:45:36
Source: http://www.shareplanner.com/daily-spy-read/10598–fuinhaz-spy-read.html
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