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Benefits of Trading the S&P

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Summary of the benefits of trading the S&P 500 by Steve Burns;

 

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    • Wall Street did indeed break our level.  We were just too hasty to put a trade on (by going long not only once but twice).  If you zoom out on the hourly chart you see it is in a downtrend, no need for a MA.  We went long because we thought we saw a support area being respected, but forgot that you need confirmation of a new high (and especially so when price has been moving down sharply).  Also the daily candles were not strong.  
    • Our second short on the Dax is working out 😘   RSI is not 'oversold yet', let it keep running!  
    • They are free to use it that way if they wish so, No problem. You are the one that is calling others hot-head.
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