Pullback day in the market after slow grinding up action.
SPY closed above short term momentum indicator 8 EMA but a test to 20 MA might be coming up. Some strength in biotech names Thursday while commodity names took a breather. This market has been on a sector rotation mode, so i will be watching biotech names via etf’s like$IBB and $LABU for a continuation run, ideally on a red to green type of move. We finally saw some pull back on commodity names and we were day trading them by shorting stocks like FCX, TCK and NUGT. I will be watching hem again to see if they catch second day sell off run.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.
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