Momentum fizzled again just when SPY had a promising look to get over 50 MA resistance.
Stuck in to congestion for almost two months. Neither bulls or bears just cant get any momentum going. It has been basically buy the dips and sell the rips in a narrow range. Market have some catalyst going into next week, specially French election result and Tax reform announcement by Trump. As a short term trader, we could really use some type volatility in either way . This range bound trading is very tricky and makes for poor trading action. Hit and run tactical trading for us, long and short same stocks for quick trades in this choppy/sloppy trading range. Earning season is here, so we are mostly focus on trading earning news related stocks in chat room .
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