Reversal day in the market after couple of days on indecision/digestion pattern.
SPY first support is at 50 MA 199 area. Below 199, that unfilled gap 195.40 comes into play. Great action from watch list names! We had our energy names pullback. BCEI,OAS,AREX ,FCX all had a nice follow through to the downside after I posted them on fade watch on Sunday blog. I kept on posting biotech $IBB is hanging on a thread and a move is likely soon. Nice fades on biotech names today. We were playing biotech fade via long Bio short etf $LABD. If you follow me on Twitter, posted live alert at 52.
Beauty move over 52 on trend line break and closing almost at day high. I will be watching for a continuation on Tuesday , ideally on a red to green type move. I will also be watching some oil names for a bounce soon, ideally on another flush at open. We finally having some volatility which is great for day trading.If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. 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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