SPY short term support is Thursday's low, holding for now with 50 MA resistance.
SPY 243.70 needs to hold for now and get back over 50 MA for bulls to get some footings.
Small cap index IWM found support at 200 MA as expected .Do or die spot. TNA is the leverage ETF if you are interested in trading this. Watch list names SHOP, AAOI, gave decent bounce trades. Both holding support , breaks support could fade again. Bias is bearish until SPY gets back over 50 MA.
If you are struggling with your trading or learn how to trade you need to check out our trading courses. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.
Also if you are interested in our day trade alert services and chat room Check them out here.
Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman
Check out our newest Offering "Bulls Vision" ! A brand new screen share product! See through the eyes of
@kunal00 while he trades live everyday.