Trend up and rally day in the Market as Bulls are still following through on a “V” shape rally. SPY still has some room on top to old 100 MA /50 MA and trend line resistance.
At this stage of the rally , it is very difficult to initiate new long position as risk/reward ratio is diminishing. I will be looking to initiate some short position intraday on if there is good risk/reward . Bulls had a great run so far , ideally a retest of 200 MA and gap fill would be healthier for a new base creation. Modest day in chat room with official alerts gaining $1674 for the days.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.
Also if you are interested in our trade alert services and chat roomcheck them out here.
Follow me on Twitter @szaman and on StockTwits @szaman