User: Ryan Mallory: Market Analysis: Fuinhaz $SPY read for October 24, 2012 | SharePlanner

$SPY due for a bounce, that will test it's strength if at any time today or tomorrow we try to push above that Fibonacci level that I have been talking about the the famous 143.19 level. So enjoy it while it last, and please get out of positions that you may be stuck in. The next Fibonacci level to look for is the 140.14 level. That one will certainly put a good floor until the next drop. I believe that the 140.19, will be a short term lower band of the range, and 143.19 the top of the range.

$SPY 1st support is 141.44, 2nd support 140.90, and 3rd is 140.14.