This Morning

SPY is looking to gap up somewhere around the $110.40 resistance. If we do open right around that level, I am going to Short the Open and look for Gap Fill at around $110. If SPY looks like it can reverse to the upside, I will go Long here and look to touch $110.40 again. I will hold SPY here unless it bounces off to the downside at which time I will sell and then wait to see if SPY retests the $110.40-$110.50 resistance. If SPY confirms a move above $110.50, I will buy SPY and look for a swing trade target of $111.60.