SPY closed flat off the support level but there were some drama during the day.
After days of grinding action we finally saw some volatility in Nasdaq. Quiet common in extended market as we have seen this type of move before. Buyers came back at support.
As active traders volatility is out friend for some short term trading action. Check out our TSLA short trade. We shorted this while market was fading hard and TSLA was still holding up. As soon it broke intraday trend line we shorted at 345.20. Idea was even though it was holding up, it won’t for long given how everything else flushed. It went down $20 fast, giving us a sweet short trade.
Price support still holding in indices. If breaks, 20 MA next. See where we go from here. Market/stocks could sure use some basing action to gain energy to push higher.
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