Indices ran into first resistance and top of the upper range.
As i wrote the last post, SPY could run into 206.50 area and it will still look like bear flag and here we are on top of that bear flag range. It should be an interesting weak , market could easily pull back here and continues next down trend or continues higher, squeezing shorts along the way. We also have end of the year, holiday shortened market. Most likely market will chop around the 206.50 and 202 range for the rest of the year giving us some nice range bound trades and a real move will come next year. I will be watching few strong stocks to see if they can catch an end of the year mark ups. Learn our way of trading by joining 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. You can also check out the testimonials from our students.
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