$SPY opening lower even though housing starts rose 6.9 percent in June to a 760,000 units which is 15,000 more than analysts expected. The $NYMO (McClellan Oscillator) rose just a tiny bit from the previous day, and still showing a lot of upside momentum, and I think today will be like yesterday. a moderate drop, followed by some great opportunities if one have patience. I will be looking at names like $CAT, $CHK, $CNX, $MCP. Once the market opens, and my pivot points reset, I will do another post with some real world entries and targets.
$SPY 1st support is 135.59, 2nd support 135.10, and 3rd is 134.66.
$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.