Finally, two month long range in the market was broken. Usually this type of long range break cuases a big move. Unfortunately that big move was to the downside with blood bath.
As I wrote in the last post, A move below duel 8/20 day moving average support ,218.15, might cause some weakness. SPY gapped down below that level , we went defensive after no sign of bounce attempt on first 15 minuets of trading. Just a nasty trend down day all day. Usually this type of sell off day has more downside follow through so watch list mostly contains some stock that could potentially bounce if we have more weakness at open on Monday. Volatility is finally here, which is 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.
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