Sell off day on top the range as SPY gave up Wednesday gains and some.
This time around SPY closed below both 20 and 8 day moving averages. As i wrote in the last post, we might have a range bound market with 20 and 200 MA support and 207.14 as resistance. Earning season also nearing, so market might get stuck on range bound mode short term. Bulls want to see 20oMA holds otherwise bears might come into play since market made a lower high and faded. Some great action from watch list names. VRX ,CPXX AMZN FB, SM ,WLL all gave some decent long day trade opportunity. . DRWI, short idea , over 10 and under 10 short worked really well if you were able to locate shares.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 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_38764" align="alignleft" width="800"]
ACAD Gap filled and 200 MA resistance. Watching for a follow through for quick short.[/caption][caption id="attachment_38765" align="alignleft" width="800"]
EDIT Double top potential . Watching for a short. Thin stock so small size and on a great intraday setup.[/caption][caption id="attachment_38766" align="alignleft" width="800"]
FB 20 MA has been support. Needs to hold or could get a fade.[/caption][caption id="attachment_38767" align="alignleft" width="800"]
LABD Biotech had a great run. This one is inverse biotech ETF. Will be watching if 36 or 37 area holds for quick long trade.[/caption][caption id="attachment_38768" align="alignleft" width="800"]
NFLX 200 MA has been tough resistance . Watching for a move either way.[/caption][caption id="attachment_38769" align="alignleft" width="800"]
OAS Oil name, range breakout watch but they are working better on intraday dip than chasing up.[/caption]
