User: Ryan Mallory: Market Analysis: Fuinhaz $SPY read for October 12, 2012 | SharePlanner
Fuinhaz $SPY read for October 12, 2012 | SharePlanner
$SPY opening higher, but very much like yesterday's action. A lot of traders still watching and looking for a breakdown under 143.19. Today's data showed that PPI rose 1.1% vs 1.7% in August. The bank earnings did not came out as great as many ANALysts were expecting, so yes I do expect us to drop. Mark my words, I really think we are going to fill all those gaps left behind.
$SPY 1st support is 143.32, 2nd support 142.58, and 3rd is 142.09.
$SPY 1st target is 144.10 , 2nd is 144.60 3rd is 145.19, and 4th one just for fun is 146.13.
Trade what you see not what you think.
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