First of all, I have to say that i think someone in the EU committee must be reading my posts, and did the right thing so I can look bad. :o) . Anyway, it was nice to go to sleep last night knowing that we would have an explosive day, and since next week will be a holiday, no better time to rally a bit before Independence Day.
So far I have no doubts about this rally. I would though be cautious once we reach the 136.25 – 136.85 level. That is a level of strict resistance, and just something for us to look for. I had an excellent week, I am looking to be able to close it with a golden key.
$SPY 1st support is 134.59, 2nd support 133.93, and 3rd is 133.47.
$SPY 1st target is 135.70, 2nd is 136.39, and 3rd is 136.54, and 4th one just for fun is 137.06.
Trade what you see not what you think.
