Red day in the market but SPY manged to close back in range.
On previous blog,I wrote since many eyes were on SPY 112, it will likely break and overshot down before any bounce. That game plan worked out really well,market gapped down , broke 212 support, taking out stops,overshot down to low of 211.21 and bounced. We were buying longs at open, names like ACIA, LABU, NTNX, LN for some decent gains. SPY 212 needs to hold for now,if it breaks 212 again, it should bring more weakness. Hit and run trading as long market is below short and intermediate term moving averages.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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