SPY Chart (April 30, 2009)

It does help to know the key resistance levels above us. This market is quite ready to fly if the Stress Test final obstacle gets out of the way.

Targets like 90 - 91 on the SPY chart is quite possible. You can see how much wiggle room there is between 87 - 90. Personally, I would not enter shorts overnight...Why take that risk...?


Come OpEx...the suprise is for a retracement to about 85-86. But I doubt it considering the amount of put options we have on the SPY.....MMs will lose a lot of money if that happens.