Big sell off in the market after spooked by Brexit news. Everyone , including market didn’t see it coming ,market was pricing that Brexit will not happen on Thursday after various poll numbers . Failed move usually equal to fast move and here we are.
SPY still in year long range with 200 MA sitting right below at 202 area. Question is what will happen now,will it hold the long term range or start a new down trend.This type of event does create some longer term uncertainty. So i would not expect a “V” move up right away. Expecting some volatile or choppy action for now. We also have quarter ending next week,so will be watching for any window dressing action in some high beta stocks. As a active trader, volatility is good for trading, increased volatility crates a big range for profitable day trades. This volatility gave us a big profitable day in our chat room Friday as we were long stocks at open after a big gap down, then added short after the initial morning bounce. Game plan still remain hit and run trading.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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