Bounce day in the Market after SPY breaking down the long term trend line and 100 MA as we have been talking about in previous posts.
Even after the bounce today SPY found resistance right on that trend line and 100 SMA as previous support now became resistance.Bulls need to follow through with this momentum. A follow through here will find resistance at 50 MA and trend line. Downtrend will no change until SPY gets over 50 MA ans stays there. Weak bounces below 50 MA will only create a bear flag for nezt leg down. Day trader market out there as volatility rises, there are many plays both long short but you have to trade quick. If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. 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.
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