Pull and recovery in the market after SPY hitting upper range of the Bollinger Band as we talked about in last post.
Bull’s still in control as long SPY stays above 20/50 MA and trend line. Biggest action last couple of days has been on biotech stocks as IBB broke down trend line on that last move to lower high yesterday and with continuation today as it broke the big trend line and 50 MA. We had some hot trade in chat shorting this biotech carnage by shorting ISIS,JUNO, KITE and AGEN.
After two big down days i will be looking for some sort of bounce on bio name. Ideally a weak open and red to green type.If you are struggling with your trading or learn how to trade like us 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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