Today is a perfect example of why there are days when you sit out and days when you take on risk. Most of the guys in  online free trading room are sitting on sidelines today.  Just by the view of $SPY chart, it can bee seen fake breakout above opening range highs and fake breakdowns below opening range lows.  Big Picture perspective $SPY is doing everything right for continuation of bull trend, most of the people in online free trading room  are long SPY from 133.50-134 region based on this post. http://dchsn6.wordpress.com/2012/07/18/thesis-on-spy-and-qqq-going-forward/

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