Stairs up and elevator down type of ugly market action after SPY broke short term moving average support. Market now getting stretched to over sold territory outside of bollinger band. SPY next support 310/302 area. Expecting a bounce soon. Ideally on another gap down or on red to green type move.
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Here is the watch list and game plan:
I will be mostly watching ETF’s like TQQQ LABU, SSO and some highly liquid tech names for bounce play. They tend to bounce cleaner than individual stocks on a weak market.
Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman
Stock Trading Bootcamp Early-Bird Pricing Ends Soon!
Early-bird pricing for our next Live Trading Bootcamp ends March 1st. We are only offering the discount to the first 10 accepted applicants!
Click here to apply for our next trading boot camp!
