Make volatility great again! 3 days of big swings in the Market. Big dump on Tuesday, after a rally Wednesday even bigger dump on Thursday but late day bounce. Mostly due to some end of the quarter window dressing action.
SPY broke support briefly below 50 MA but closed right at trading range to the dot.
Nasdaq bounced support and closed back in trading range.
As far as trading,this volatility has been great for active traders like us. Watch list bounce idea from Tuesday night, NVDA, TSLA, AAOI worked great on Wednesday .
Thursday we were basically short all our long plays from Wednesday. NVDA, TSLA ,SHOP short all worked on open range breakdown. Action might slow down Friday,given long weekend coming and Monday is a half trading day. Friday also is the last of the quarter and market tends to do well ahead and during holiday weekend.So won’t be surprise to some fun and games with certain high beta and momentum stocks. Since Monday is half trading day, there won’t be a watch list this weekend.
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