Range bound action in SPY.
SPY sitting below that all important both 8 and 20 MA short term momentum moving averages. A break below 205.28 could test the 50 MA 203.75.204 area.Finally we saw some air off the oil,metal and commodities names. Our watch list short idea, NUGT, GPL, TCK ,TSLA worked really well as we had another awesome week in making in the chat so far, shorting commodities names. I will be watching some oil names for a bounce soon, ideally on gap down open. Many of them approaching short term area for a quick bounce.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.
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