As I wrote in last post, “Usually market can not rally without leadership names…unless technology names firm up, market might get stuck in a range with some volatility again”. No surprise there, momentum tech names dived and finally, so did market. SPY back to lower range and holding 50 MA for now. A break again …
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Breakout trading is one of the most common styles of stock trading. It is a strategy where you buy a stock after it breaks over a resistance level, anticipating that it will head higher. But false breakouts occur all the time. It is never this simple. Many breakouts fail. Not necessarily because the general strategy …