Range bound consolidation in the market after the big rally off a double bottom pattern.
SPY basically now in between 20 and 50 MA range with short term support at 20 MA and resistance at 193.30,194.60 and 196. Our green to red short ideas from last blog worked really well, giving some nice day trading action. AMZN, NFLX, FCX, GOOG gave some decent green to red short trades since Thursday. Range bound market, game plan will be buy low of the range and sell on the top of the range until otherwise. Watch list contains mostly range bound plays , watching to see if the can catch a bounce or fades.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. You can also check out the testimonials from our students.
Also if you are interested in our day trade alert services and chat room , take a free trial! Check them out here.
Follow me on Twitter @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.
