Cute bounce off SPY previous January low 181 area.
I do not think we have seen the bottom yet, however if 181 holds , market might have a short term relief rally. Technology stocks were strong, oil holding the low for now. Laggards are the banks and financial stocks, so keep an eye on financial stocks or ETF like XLF. They need to catch a bid for any bounce to happen. If SPY losses 181, next support is 179 area. Some great round trip day trading opportunity out there via (short/long/short) on high beta technology names. We are still “Buy the rip, sell the dip” trading theme until otherwise. Given it’s Friday before market holiday Monday, market might have some choppy , direction less action as well. 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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