Bulls managing to hold key support level on SPY but it also has that bear flag look below 20 and 50 MA.
Bulls need to close SPY over that 20 and 50 MA. Doable but lately the bounce had not much energy or momentum. My gut feeling we haven’t seen the lows yet and sooner or later that March low would be tested and/or might gets taken out. Hit and run tactical trading for us, long and short same stocks for in this choppy/sloppy trading environment. Earning season is here, so we will mostly focus on trading earning news related stocks in chat room . NFLX short and GNC long, couple of earning plays that we traded in chat room for some nice gains. So keep an eye on those earning related names. Slim pickings as far as watch list names. Not finding many interesting setups. So stay nimble out there.
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