Rally continues in the market propelled by commodity, oil , financials and small caps.
SPY riding good old short term 8 EMA momentum moving averages. Next resistance at 206 zone. A break below 8 EMA area could change the momentum a bit as 200 test then comes into play. At this stage of the rally it is hard to find new longs. So i will be keeping an eye for any reversal action, given it’s a Friday, market might see some profit taking , also we have option expiration on Friday.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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