Small red day in the market . Not surprising given how many stocks were stretched to the upside.
We also saw some parabolic run in low float names like OPTT ,OPGN, SPU etc, when that happens , usually means market might getting a bit frothy and some pullback might be on the way. If you follow me on Twitter, I posted this on Wednesday night.
No surprise , pull back came on cue. SPY still in consolation mode with support on 8 EMA, 215.40 area. If it breaks that then we might see some weakness as short term range will be broken. All in all market needs a breather to set some chart up for next run with energy.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 [caption id="attachment_40061" align="alignleft" width="800"]
FCX Bouncing at support. Keeping an eye.[/caption][caption id="attachment_40062" align="alignleft" width="800"]
NFLX Needs to hold this support else might have another flush.[/caption][caption id="attachment_40063" align="alignleft" width="800"]
REN Low volume consolidation so. See which way it breaks. Needs to hold 8 EMA for now else could flush.[/caption][caption id="attachment_40064" align="alignleft" width="800"]
SGY Watching for support bounce for a quick trade.[/caption][caption id="attachment_40065" align="alignleft" width="800"]
STRP Watching for a support bounce on 20c MA, 30 zone.[/caption][caption id="attachment_40060" align="alignleft" width="800"]
DRD Gold stock, watching to see if holds 20 MA here.[/caption][caption id="attachment_40066" align="alignleft" width="800"]
X Bouncing at support. Keeping an eye.[/caption]
