SPY filled the gap at open but reaction bounce didn’t last as it closed almost back to low of the day and under short term momentum moving average 8 EMA.
Even though SPY closed down slightly , it is not showing the underlying weakness in many individual names and sectors.Not seeing many leadership stocks and sectors as market breadth( Number of advancing stocks vs. number of declining stocks) continues to deteriorate. Choppy. sloppy run in many names and getting fizzled fast. We are back to hit and run trading mode , take gains fast while we have them until market gets some footing again.
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.
Also if you are interested in our day trade alert services and chat room Check them out here.
Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman
Check out our newest Offering “Bulls Vision” ! A brand new screen share product! See through the eyes of
@kunal00 while he trades live everyday.