Range bound action on SPY.
Market seems to be in wait and see mode for this week’s big earnings and FOMC on Wednesday.Tight small range makes day trading a somewhat tricky as you need stay withing range and trade fast and absolutely no over trading. Sector rotation mode still in full force with money going into energy and commodity names and small caps while tech remains weak. SPY short term support now below 8 ema, 208 area followed by 20 MA 206.50 zone with resistance at 211.If you are struggling with your trading or learn how to trade you need to check out our trading courses. 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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