Browse Symbol Stacks: FCX: Fuinhaz $SPY morning update for August 6, 2012 | SharePlanner

$SPY made a nice run just 1 cent above my 1st target of 140.16, and now pulling back. It is very important that the $SPY holds this 139.94 level, otherwise we will sell to balance the amazing run on Friday, and the lack of new catalyst to keep us pushing higher. A drop under 139.85 which is on my current chart is R1, could put this market back in the hands of the bears at least for who knows a couple of hours or even a couple of days. I personally don't like to make long term prediction, just because I don't know what will happen during the night, or in a week for now. So I like to give wise daily views, rather than try to guess the future.

As we sit here just above 140.03, I must look at shorts for now.

$CAT under 86.70

$FCX under 34.70

$NUE under 39.80

$UA under 56.56

$X under 22.48

May you all have a good continuation of your day.

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