Follow up

From today's post regarding targets for the SPY published here on Tuesday,

More Rumors and we hit Target 2-GLD may not be agreeing

The following chart and commentary are from the post linked above....

"The 3 SPY targets posted Tuesday of this week, we are at the second, the 3rd would be a break above recent highs which would not be all that unusual as head fake moves are seen about 4/5 times before a major reversal, that's why that specific target was added."

And now our current daily chart...

All 3 targets posted on Tuesday for the SPY have been hit, make sure to check out the bold from the chart and post above.

The $140 area would be a real solid head fake move, but I don't get the feeling we are headed there, especially as the news that the last would be rumor to take out all stops was just shot down by the ECB itself-the stops are still taken out.