Fuinhaz $SPY read for October 5, 2012

(Before It's News)

$SPY roaring as non-farm payrolls are up by 114,000 in September, the unemployment dropped to 7.8%. We also have news from Europe saying that it plans buy a heavy amount of bonds for the next 2 months. The only thing that actually made me laugh is the fact that the Spanish finance minister Luis de Guindos said that they don’t need a bailout. But maybe it is just me who thinks that he’s also have a second job as a comedian. Who knows.

$SPY 1st support is 145.93, 2nd support 145.38, and 3rd is 144.63.

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

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