Trading Watch List 03.02.2020

Late day bounce attempt after indices hit some extreme oversold condition in years. SPY 285 line in the sand for now and 305(200MA) as resistance.Going forward there might a bounce but given the severity of this sell off,question is how far will it bounce before seller comes back in.

Given the uncertainty, I am expecting volatility to continue for a while. As far as trading, a red to green type move at open will be ideal for bounce continuation. Volatile market out, if you are not sure what are you doing, it’s better to stay put until market settles down. Business as usual for active day traders, buy support, red to green and sell the rips with defined risk/reward in mind.

QQQ Bouncing 200 MA with resistance at 210 area.

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Here is the watch list and game plan:

I will be mostly watching ETF’s like TQQQ LABU, SSO,JNUG and some highly liquid tech names for bounce play. They tend to bounce cleaner than individual stocks on a weak market.