$SPY opening higher dues to some modest news coming out of Europe, and Goldman Sachs $GS blowing out the doors on the earnings. Notice that even though we are in a tight range lately the market still is slowly climbing up as we get closer to the European meeting on Friday the 20th. Where we will find out if we have a new catalyst to continue to move higher, or another reason to keep selling this market. The $NYMO (McClellan Oscillator) is above neutral showing that this market wants up. So for now I will be taking any pull-back as a dip buying opportunity.
$SPY 1st support is 136.19, 2nd support 134.89, and 3rd is 134.14.
$SPY 1st target is 136.39, 2nd is 136.69, and 3rd is 137.06, and 4th one just for fun is 137.64.
Trade what you see not what you think.
