SPY - Updated

Well the markets are tanking and it is a good thing too!?! China is falling apart and it tackling down. We now have closed below the White Line in the Sand with little to spear, all traders are going on vacation and window dressing, is not helping. Taking heads are pounding the tables with the next double-dip. However, if you were watching the charts you would have been on the downward side of this market.

Market will possible test the breakdown with either 100 or sideways trading until July kicks off. The gov tried to cover up the health of this market and economic depressed status, but, we are traders know it was all for not.

Daily - SPY

Ugly Day - SPY Updated

NEW YORK (Reuters) - Stocks cascaded to their lowest close since February on Friday after May's jobs figure slammed investors already reeling from worry over another developing debt crisis, this time in Hungary.

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Job creation were only 18K; if you back out all the temp Consensus Workers. President and Vice President said the number were really good, but did not take into account all those temp workers. Gov.bull.market. On this 10-min chart the May 26, 2010; level was pieced, however, we did not get a close below this level. There is still a lot more downward pressure to be seen and we will make short order of getting there, as it appears.

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SPY - Targets Met - Update

Targets have been hit for this week, jobs number are out tomorrow morning, as Obama said to expect a better than better job number. Which we believe the market was trying to price it in before the close of today. All so, volume it still very light due to the holiday and shorten trading week.