Another gap up day in the market but unlike Thursday , market was able to follow through somewhat and stayed green .
Spy is holding 200 MA now and will most likely go for overhead 20/50/100 MA and trend line resistance. Chinese stock also had follow through bounce via gap up and most faded and or still stalling on resistance. China etf FXI had it’s oversold bounce and now we will see whether it fades back on build upon on this bounce. I will be watching those for directions.Slim pickings out there as far as daily setup is concerned, Not the easiest market environment , so do not over trade and chase longs, if you are not sure about a setup just sit out as there will be easier times to trade.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.
Also if you are interested in our trade alert services and chat room , take a free trial! Check them out here.
Follow me on Twitter @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.