SPY bounced closed 200 MA and made a move higher intraday but with typical bear market action ,failed miserably at the end of the day, closing in red.
Given how oversold market was, condition was ripe for a bounce , at least even for the day but bulls just can’t get it going. We haven’t yet seen a big panic type capitulation move on indices. Maybe market needs parabolic flush before any sustainable bounce. Not sure when that will happen next week after or after the election on Monday. SPY breaks 208, next stop 207. Hit and run trading out there, no anticipatory or preemptive move yet, just trade the price action and what you see.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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