Users: Ryan Mallory: Fuinhaz $SPY read for April 10 2013 | SharePlanner

Fuinhaz $SPY read for April 10 2013 | SharePlanner

And here we go again to try to make new highs. I think it is amazing that once the $SPY and the market in general reach a level where most traders see on their chart that the markets are overbought, but no one wants to look foolish and call it. You know what? I feel the same.

Let's just watch this, and keep a note on the back of our mind, that for the past 3 times that we got here we sold it hard, and we may continue to do this for the next 9 months. A complete day traders market, where holding overnight is as foolish as trying to predict a top.

$SPY 1st support is 156.90 2nd support 156.41 and 3rd is 155.43.

$SPY 1st target is 157.21.

Trade what you see not what you think

Be sure to try SharePlanner's Options Income Newsletter with a Free 14-Day Trial

Comments

No comments yet.