SPY test of horizontal support 260 on Monday and nice reversal.
Needs to clear out trend line and 8 EMA for recovery process. As I mentioned , small cap led us down and it might be the first one to start bounce process. IWM outperformed Monday and Tuesday.
Needs to clear out 8 EMA for recovery process. Pretty much all charts has the same type of of look. Bouncing horizontal support and needs to clear out short term moving averages and trend line. Again we are mostly focusing on trading ETF’s. This type of volatile market they tend to act cleaner.
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.
Also if you are interested in our day trade alert services and chat room Check them out here.
Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman
Check out our newest Offering “Bulls Vision” ! A brand new screen share product! See through the eyes of
@kunal00 while he trades live everyday.