User: Ryan Mallory: Market Analysis: Fuinhaz $SPY read for October 9, 2012 | SharePlanner

$SPY opening slightly higher but I am not trusting this move. Germany's prime minister Angela Merkel is in Greece to show support for the country. Well unless I see her comfortably laying on a beach with a wicked weasel bikini and a drink in her hand, I believe that things have gotten better.

The countries debt situation is getting worst, and both former Greek government ministers have mentioned that they will have to restructure the debt once again. So for all those reason, I believe that her presence there means nothing but some nice days off from the cold weather that is starting to hit Germany.

I remember when I lived in Europe that this was a good time to hit the Mediterranean countries. Sort of what i did when I went to South Carolina 2 weeks ago.

Now let's go to the numbers.

$SPY 1st support is 145.26, 2nd support 144.62, and 3rd is 143.80.