$SPY gaping higher as I am happy to announce that my current theory of a bounce around the 135.14 level became a reality, and I am overwhelmed to the reaction of my followers on twitter, and on the chat rooms I participate. I want to thank everyone for your kid words, and support. I put a lot of work on these $SPY reads, and I always try to make it very simple for everyone to read and understand. And I promise to continue to give my best as always to demystify this market for all of you.
$SPY 1st support is 135.14 (4th Fibonacci Retracement), 2nd support 133.55, and 3rd is 131.77.
$SPY 1st target is 136.39, 2nd is 136.69 3rd is 137.06, and 4th one just for fun is 137.64.
Trade what you see not what you think.
Welcome to Swing Trading the Stock Market Podcast!
I want you to become a better trader, and you know what? You absolutely can!
Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
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The percentage amount for your stop-losses and where to put them at when trading the stock market can be very difficult to determine. In this podcast episode, Ryan talks about times when it works using tight stop-losses versus very wide stop-losses and the tricks that you can use to narrow the stop-loss even further.
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