Pull back and some volatility in the market after days off slow grind move. SPY holding 20 MA, Bulls can start bouncing the market here, if not SPY has support at 50 MA and gap fill trend line support.
I will be watching oil and oil stocks again for a bounce as crude oil managed to hold 52 level. Some oil stocks holding up well as crude makes fresh lows. I will be also watching some beaten up stocks like NQ,WB,WBAI,VJET,CMCM,JMEI to see if they can catch any bounce in the new year, now that most tax loss selling has subsided.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.
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