$SPY recovered well, and closed above 133.46 level (above 50ma). We had some great earnings this morning. And that is helping us stay positive for now. The only thing that is worrying me this morning was $AAPL missing their quarter report. I know that there is nothing better out there yet, but I think that the loss of Steve Jobs is starting to weight on $AAPL. You can replace a CEO, but your can’t replace a visionary. Sou doubts are going to start to be raised to see if $AAPL can indeed continue to deliver what we still don’t know that we need.
$SPY 1st support is 133.91 (just under 20MA) , 2nd support 132.94 (just under 50MA), and 3rd is 132.29.
$SPY 1st target is 134.69, 2nd is 135.70, and 3rd is 136.69, and 4th one just for fun is 137.06.
Trade what you see not what you think.
