Wrote in last post a break below 200 in SPY could set off panic selling and here we are.
On Tuesday gap down below 200 , failed try to recover intraday and selling continues. Market hitting some oversold level now. A bounce soon is a possibility or a full blown crush mode. I have been mentioning that 195 gap fill on SPY for a while now, we finally filled that gap, now bulls need to push SPY over that 195 for some bounce action. If you follow me on Twitter or in this blog, i have been preaching to stay cautious for a while now, given the lack luster market action and weakness in leader stocks. Be careful out there and take gains fast as it comes to via round trip trade, long/short/long. This volatility and wide ranges are perfect for day traders with skills.Not so great if you are not nimble and manage risk well. Out trade room's real time trade alert's has been consistently profitable even with this market turbulence. Now more than ever , you need to learn how to be profitable trader in any Market by joining 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 day trade alert services and chat room , take a free trial! Check them out here.Follow me on Twitter @szaman and on StockTwits @szamanCheck out our newest Offering "Bulls Vision" ! A brand new screen share product! See through the eyes of @kunal00 while he trades live everyday.[caption id="attachment_37390" align="alignleft" width="800"]
AMZN If market continues to weaken next support 596 zone and then gap fill at 580. On the bullish side, needs to get over 20 EMA on 30 minute chart for some bounce.[/caption][caption id="attachment_37391" align="alignleft" width="800"]
CMG Beaten up stock. If Thursday’s low holds .this could be bounce trade over 419.[/caption][caption id="attachment_37392" align="alignleft" width="800"]
OAS Beaten up oil name. If Thursday’s low holds or can get over Thursday low after a weak open, could catch a bounce.[/caption][caption id="attachment_37393" align="alignleft" width="800"]
SCTY Has a gap to fill at 44.70 area. If market wakens again , 37.75 next support area.[/caption][caption id="attachment_37394" align="alignleft" width="800"]
TNA Complete blood bath in small cap Inverse ETF. If market catches a bounce, keep an eye.[/caption][caption id="attachment_37395" align="alignleft" width="800"]
TSLA Holding the support. If market weakens, could go to 205/200 area. On the bullish side,over 217 might catch a bounce.[/caption]
