Today’s Trade 9-28-11

We have been watching this market bounce in a large sideways channel for weeks now, and I don’t see anything that should cause that to change. For this reason I am eager to see price of the SPY rally back up to its recent highs. Once it hits these levels, I expect to see the Supply hold, and push prices back down, staying withing our trading range. Here is how the trade sets up:

— Short above $121.85
— Stop $123.70
— Target 112.50

To view this chart in real time, click here: http://fsc.bz/HSI