Why I went long $SPY today

Price action in $SPY $QQQ $ES_F is conducive to start long positions, as a result we started building our core positions in  our online trading room  $SPY today between 140.70-141.20 region , stops at 138.

We had a nice 6% profitable core position $SPY  swing in July ,which was documented here http://dchsn6.wordpress.com/2012/08/16/spy-target-1-142-achieved/. The charts below show my analysis for the swing core.

 

If you would like to join us in our trading room, email: dcshn6@gmail.com.

For traders who are looking for HIGH LEVERAGE, LOW COMMISSIONS and RELIABLE PLATFORM, check out TRADER BENEFITS TAB for more info., earning season requires you to have enough buying power to be in trades and having a Power Day Trading account can help.

 

 

I personally trade by watching price action only, with no fancy indicators as such and with the current dips being bought last few days, it tells me market has a bid underneath it.

 

 

Follow me on twitter @dchsn6

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