Bounce day in the market.Not surprising after two days of massive drops.
SPY filled Monday’s gap and back over 200 MA and into the range again. Now that market had it’s bounce things gets a bit difficult. Mainly is it just a dead cat bounce before rolling over again or is this the beginning of next “V” shaped bounce that bulls have become accustomed too.There is no easy answer only time and price action will tell the story. Technical action was solid Tuesday as SPY closed at the high of the day. Market certainly has bit more room for upside but it is still too early to have faith in sustainable bounce continuation. But as long volatility remains , it is as always great for active traders. 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 @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.
.
