Sell off in the market after SPY broke down both 8 and 20 MA short term momentum support.
SPY filled the gap, if doesn't hold , next support 50 MA 203 zone. However, market specially technology stocks are oversold. Sector rotation still in full force , specially parabolic type of rotation into gold/sliver names. I will be mostly watching for some pullback into gold/silver names and bounce in technology stocks.If you are struggling with your trading or learn how to trade you need to check out our trading courses. 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 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_39032" align="alignleft" width="800"]
GDX Gold weekly chart approaching some resistance. I will be watching for a sort via NUGT short.[/caption][caption id="attachment_39034" align="alignleft" width="800"]
GPL If gold/silver fades , this are type of names to watch for a short.[/caption][caption id="attachment_39037" align="alignleft" width="800"]
TCK Material name. Watching for a short.[/caption][caption id="attachment_39039" align="alignleft" width="800"]
X If commodity run continues, Looks good for a continuation run as long 20 MA holds.[/caption][caption id="attachment_39035" align="alignleft" width="800"]
LABU Biotech ETF, bottom of the range and on 50 MA. Watching for a bounce.[/caption][caption id="attachment_39036" align="alignleft" width="800"]
NFLX Oversold, watching for a bounce if Friday low holds or reclaims after another fade.[/caption][caption id="attachment_39033" align="alignleft" width="800"]
GOOG Oversold, watching for a bounce if Friday low holds or reclaims after another fade.[/caption][caption id="attachment_39038" align="alignleft" width="800"]
TSLA Cracked after 20 MA support gave away. Holding the range support before earning Thursday. If doesn’t hold 226 next.[/caption][caption id="attachment_39031" align="alignleft" width="800"]
EXPE Earning mover. Range break out watch.[/caption]
