Gap up day in the market and range bound action intraday and then SPY manged to closed above the upper range and 200 MA.
Indices printing kind of “indecision” candle on the top of range. Ideally i would like to see few days of side way action while indices rest and beaten up individual stocks and sectors makes the run and catches up with broader market bounce. Friday’s market run started to crate some decent setups specially in beaten up sectors like biotech. I will be watching few bio names again for bounce continuation. Oil names like SGY, BTE holding onto 50 MA so i will be watching those as well. Earning news stocks continue to be in play. We had decent short trade with P on Friday after earning miss.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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