Wrote in last post a break below 200 in SPY could set off panic selling and here we are.
On Tuesday gap down below 200 , failed try to recover intraday and selling continues. Market hitting some oversold level now. A bounce soon is a possibility or a full blown crush mode. I have been mentioning that 195 gap fill on SPY for a while now, we finally filled that gap, now bulls need to push SPY over that 195 for some bounce action. If you follow me on Twitter or in this blog, i have been preaching to stay cautious for a while now, given the lack luster market action and weakness in leader stocks. Be careful out there and take gains fast as it comes to via round trip trade, long/short/long. This volatility and wide ranges are perfect for day traders with skills.Not so great if you are not nimble and manage risk well. Out trade room’s real time trade alert’s has been consistently profitable even with this market turbulence. Now more than ever , you need to learn how to be profitable trader in any Market 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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