Flat day in the Market with every spike was faded and every dip was bought.
SPY in the middle of the chart range with some resistance at round number 200. Tricky spot in terms of daily and middle of chart range but if we dig down to 30 minuet time frame you can see that SPY is holding that 20 EMA that was resistance earlier in the week.
So Bulls are still in control as long over that 20 MA but a break of that 20EMA/30 minute can cause some selling/profit taking. Ideally if market can base here few days that way we can see the how the bounce gets absorbed and should setup some new chart setups. Tricky trading out there unless you have a good strategy. Its important to learn trading technique and strategy where you can day trading or swing trade both ways. Learn to read the chart both ways use proper day trade tools and have your alerts set!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_35730" align="alignleft" width="800"]
EBIO Narrow range setting up here. Watching over 2.74 with volume for a spike up.[/caption][caption id="attachment_35731" align="alignleft" width="800"]
FB Closed at 50 MA resistance. Few day of basing here will set this up as a nice long but short term 90 area needs to hold or can get a quick short trade.[/caption][caption id="attachment_35732" align="alignleft" width="800"]
CLTX Narrow range setting up here. Watching over 2.56 with volume for a spike up.[/caption][caption id="attachment_35733" align="alignleft" width="800"]
MBLY Basing action below 50 MA. Could be a range break trade either way.[/caption][caption id="attachment_35734" align="alignleft" width="800"]
NFLX Closed below resistance. Few day basing here will set this up as a nice long but short term 116.50 area needs to hold or can get a quick short trade.[/caption][caption id="attachment_35735" align="alignleft" width="800"]
TSLA Approaching trend line resistance Few of day basing here will set this up as a nice long but short term watching for a quick short trade.[/caption][caption id="attachment_35736" align="alignleft" width="800"]
USO Big run in oil but approaching some resistance. Watching oil names for quick short setups.[/caption]
