Date: September 2012: Fuinhaz $SPY read for September 6, 2012 | SharePlanner

Yesterday I noticed an invert head and shoulder pattern developing on the intra-day chart, that would be expected to conclude once we crossed the 141.56 level. After all the European rate decision stayed as everyone expected.

The good thing of looking at these patterns is that it may get a lot of people by surprise the next day, which will trigger a lot of buying, and make whatever you are holding in anticipation fly away with a good chance of a couple follow through days.

With that in mind here are today's numbers.

$SPY 1st support is 141.31, 2nd support 140.62, and 3rd is 139.98.

$SPY 1st target is 142.26 , 2nd is 142.71 3rd is 143.55, and 4th one just for fun is 144.10.

Trade what you see not what you think.