View: Fuinhaz $SPY read for August 28, 2012 | SharePlanner

Fuinhaz $SPY read for August 28, 2012 | SharePlanner

$SPY opening lower, but still following what i wrote yesterday regarding the invert head and shoulder pattern I detected on a 15 min. chart. I think that if we bounce from the open, we will most likely make a new high today, or until something comes out of the Jackson Hole meeting.

Keep in mind that we have consumer confidence at 10am. In Europe we are currently down almost 1%, that will keep US traders on alert. I am still believing on what I see on my charts, but always ready to change direction.

$SPY 1st support is 140.30, 2nd support 139.33, and 3rd is 138.69.

$SPY 1st target is 141.56 , 2nd is 142.26 3rd is 142.71, and 4th one just for fun is 143.55.

Trade what you see not what you think.

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