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The markets started out this morning in positive territory. There was a bump about mid morning after euro-zone finance ministers agreed to make €30 billion ($36.94 billion) in aid available for Spain's banking industry and extended time to help them reach deficit targets.

Then there was the usual nervousness as the market ...

SPY ETF Looks For Support at $134

Posted by Smart Trader on July 9th, 2012

Over the last month, despite European debt concerns, and not so hot job reports the SPY has seem to have found a bullish stride.  Please do not mistake me for being overly bullish because there is still much in the way uncertainty that is overshadowing this market.

The news this week will be mostly about earnings.  Alcoa announces after hours today and then some big names come later in the week like JP Morgan Wells Fargo, and IBM.  Earnings should be ...

SPY ETF Close to Short Term Support

Posted by Smart Trader on June 26th, 2012

I'm tired of talking about Europe, so I am going to focus on what we are seeing on the charts because it should give traders a pretty good road map of what you should be doing as you are deciding to get short or long.

 

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