Rally continues in the market. Relief rally turned into a “FOMO (Fear Of Missing Out) rally” . SPY over that 187 resistance caught some shorts off guard and help from all sectors propelled the rally even more.
SPY next resistance 194.60 followed by big one at 196. Needless to say all our long picks NFLX, GOOG,LABU, APC, KMI long alerts worked well and and so did NUGT short. At this stage of the rally,after 3 or more gap ups on most stocks, cant really find any long setups so i will be watching for some shorts/fade trades,ideally on another push higher at open.Watch list contains some of the names that are at or will be at some major resistance soon. After a up trend day like we had on Wednesday, i am not expecting another trend day up on Thursday, so i will be stalking for short trade with tight stop in place. 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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