Pause day in the market as SPY basically closed at low of the day and below short term momentum moving average 8 EMA.
Nothing worrisome yet, next support is on 20 MA. 217.20 area. Many individual stocks can sure use some pullback and basing. I'll mostly watch for some continuation down move on few names. Picks from blogs, EBIO,OCUL, LN, TWLO, FIT gave some decent trading opportunity on Monday. Today we were mostly busy with shorting extended stocks for decent gains. So game plan also will be to watch for fade on extended names.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_40447" align="alignleft" width="800"]
ADXS Must hold 13.87 for a bounce . Will be looking for a short on green to red type move. Long watch over 14.20 on a red to green move.[/caption][caption id="attachment_40448" align="alignleft" width="800"]
CWEI Extended energy name. Watching for a short setup if stays below 62.50.[/caption][caption id="attachment_40449" align="alignleft" width="800"]
LABD Biotech short ETF. Higher low(1-2-3) bounce. Continuation watch ideally on small red to green type of move at open.[/caption][caption id="attachment_40450" align="alignleft" width="800"]
PBYI Bio name. Still flagging, keeping an eye.[/caption][caption id="attachment_40451" align="alignleft" width="800"]
REN Keep on squeezing but whole number 20 should be a resistance. Watching for a short on green to red type move under 19[/caption][caption id="attachment_40452" align="alignleft" width="800"]
WB Bearish candle on daily. Watching for green to red type move below 43.80 for a short.[/caption]
