View: Fuinhaz $SPY read for July 6, 2012

$SPY taking a huge hit this morning as traders are selling the news, even though The unemployment numbers came in line with just 10,000 shy of estimate. Unemployment stays flat at 8.2. I think this is very positive, but an eventual sell-off was due. Everyone that follows the McClellan Oscillator saw that.

$SPY 1st support is 135.42, 2nd support 135 (.10 cents from 20 MA @ 134.90), and 3rd is 134.74.

$SPY 1st target is 136.69, 2nd is 137.06, and 3rd is 137.64 138.28, and 4th one just for fun is 138.42 (very strong resistance on my charts).

Trade what you see not what you think.