User: Ryan Mallory: Market Analysis: Fuinhaz $SPY read for October 15, 2012 | SharePlanner

Fuinhaz $SPY read for October 15, 2012 | SharePlanner

$SPY trying to open above the 143.19 Fibonacci Level. As I write this it is @ 143.39. I personally don't think that the move is sustainable unless it can break the 143.55 level.

In Europe a lot of demonstrations during the weekend. People are trying to give Greece a break, but the problems persist on the south of the European  Continent. I think that eventually the pressure will be so much, that a possible split between the south and the north Europe is very likely sometime in the future.

Over here in the US, the economic data shows that retail sales increased 1.1 percent.

$SPY 1st support is 142.77, 2nd support 142.33, and 3rd is 141.60.

$SPY 1st target is 143.55 , 2nd is 144.10 3rd is 144.60, and 4th one just for fun is 145.19.

Trade what you see not what you think.

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