Fun times continues for SPY and mega cap stocks in DOW but technology index QQQ remains the ugly duckling.
Weak bounce for technology names after Wednesday’s mega sell off as money continues to rotate into biotech,financials retailers, oil, names. QQQ managed to hold 20 MA. Line in the sand for now. A break below could see some more selling, Bulls need to hold 20 MA and build here. SPY , DOW, IWM indices are getting extended, if they pull down and no rotation into QQQ, we might see some weak action across the board. Juts something to keep in mind but then again it has been a stock picker’s market, there are always something in play.
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.