Sell off day on top the range as SPY gave up Wednesday gains and some.
This time around SPY closed below both 20 and 8 day moving averages. As i wrote in the last post, we might have a range bound market with 20 and 200 MA support and 207.14 as resistance. Earning season also nearing, so market might get stuck on range bound mode short term. Bulls want to see 20oMA holds otherwise bears might come into play since market made a lower high and faded. Some great action from watch list names. VRX ,CPXX AMZN FB, SM ,WLL all gave some decent long day trade opportunity. . DRWI, short idea , over 10 and under 10 short worked really well if you were able to locate shares.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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