SPY - 5 Min Chart

It was a wild day on this Friday morning with the GDP number, being poor, then market started to find its footing. As it being Friday they PPT, HFT will not let this market go gentle into that goodnight. On this 5 min charts you can see the dump and fade, with a wishing tail to show where they want to end the day.

New Weekly - Option Contracts For Trading

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SPY - Closed Above 110 Level

EU Banc Stress Test announcement was release after the European markets were closed and the US market reacted to the downward rally, however, it became apparent that the Stress Test was not really a test at all. All the EU countries had done a bailout package in the tune of $1 trillion, but the US markets managed to gain its footing back and off to the upside we went. SPY closed above the 110 mark. There are some other things that need to be addressed, resolved before the music continues.

Big Ben - A Look At The SPY 5 MIN Chart

Appears that we are getting some nice price action, to the downward rally. Ben stated that it will take longer to recovery than planned. Where you surprised by this comment, I believe not. The market machines have taken over and with the summer light volume this can push this market around, like not other. Tomorrow we should see a continuation to the down side. But, Housing, Job's # and Big Ben speaking for the second day. We will have to see where this market takes us. Some more bigger tech names reported their earning after the bell and, it appears that were in a sell the earnings news phase of this market. I would prefer scalp and 1-2 swing trading to stay out of this mess. However, take what the markets give you, don't be greedy . . . . Would like to see this market trade downward to the 100-98 level for the SPY. Time will tell on this one.

SPY - Updated - 5 mins

Well, this was a day most of the retail investors were looking for, due to the institutional players running the markets up, after the July Holiday. SPY closed down -3.

Appears that we can see some more downward rally, as the EU Banks Stress Test results are due out.

5 min - Light Volume Day

Was this the World Cup Hangover? or the Fed Ben run and dump? Moreover, the market were looking forward to the start of this quarters earnings season and AA started it off at the close of the bell, today. INTC is the next one in line to report, busy week of Heavy Eco News . . . Plan the trade and watch the tape. This should be interest with the Shorts being hanged out to dry by the HFT, PPT and other market process . . . .

5 - min Chart - SPY

Appears to have been a nice chop/chop and sideways action in the SPY, as trader were still in the discussion mode of which way to take this market into the weekend. No much volume, so the machines took us into the close for a new high. It also appears we are going to make a bit out of earnings starting next week. Would you like the markets to have a paddling for 10K and below or a 10% drop or next week? Humm, also option ex is next week, mm, ppt, and hft will probably put the brakes and put the markets in sleep mode.

EcoNews - Ones To Watch

SPY - Updated

There was some late selling complete before the long 4th of July weekend, so do we see a continuation of this on Tuesday, hum . . Monday is a market holiday in the US Markets. The last time that the US markets were closed the world made a decision on credit swaps and defaults. China release on a US close holiday that the were letting the yuan float. So the proof in the pudding. Weekly downward rally is still intact. 18 MA on the weekly is being attacked at the time of this posting. 100-98 targets appear to be in insight or the 103-103.50 on the high side of this report. One week is last before the options expiration week for July, is should be fun!?!?!