No a good day for the market as SPY gapped down below the flag pattern. This is a hard market to do swing trading in. For swing traders its about less is more pick the markets when it gets oversold/overbought and play counter. This is a day traders paradise. You only get so many opportunities during the year for a volatile day trading environment. It leads to some more stress as the losses can be magnified but if your your day trading strategy is strong you can compensate and really get some amazing returns.
SPY still somewhat still in a choppy range. It needs to hold 190.70 area otherwise it might have some panic selling. Bulls will be in some control on a close back over 10 MA 194.28 area. Not the easiest trading environment out there. Some big tech name like AMZN, NFLX are in a do or die zone. I will be watching those for overall market direction.If your trading tool box only contains playing straight break outs, this is not market for you now. Breakout in this market most likely will fade.Be sure to have different trading technique and strategy where you can day trade or swing trade both ways. This volatile market providing big trading opportunities as we continue to have record daily gains in our chat room via trade alerts.
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