As usual bears have yet again failed to follow trough after failed break out type action on Wednesday.
SPY bounces 50 MA yet again.Line in the sand for now. Keep in mind,bounce attempt was weak for most stocks. In our chat room, we did some dip buying name like AAOI, LITE , LABU and sold them fast for quick gains as bounce didn’t look to convincing to hold them for swings.SPY back in squeezed between 20 MA resistance and 50 MA support. Big job report Friday before market opens, should be a market mover either way. Hit and run tactical trading for us, long and short same stocks for quick gains until market finds some direction. Watch list contains some bounce plays but they can be traded either direction depending on market direction.
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.