Volatile roller coaster day in the market. SPY was up and then down and then bounced to almost Mondays close.
Clearly SPY has resistance at 20 and 50 MA. 100 MA acted as support so far but another tap might not hold the support. Bulls need to clear 20 and 50 MA , Bears need to break the 100 Ma.Until then we might get stuck in a range.Volatility is back, as a short term trader this is a blessing to us ! As always volatility creates opportunity. 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.Also if you are interested in our 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_32446" align="alignleft" width="800"]
ADXS We had a decent trade shorting the highs today In chat. Looking for more weakness if cracks 11.28.[/caption]
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BITA Getting oversold and in approaching bounce zone. Watching for a bounce, ideally a morning flush and bounce.[/caption][caption id="attachment_32448" align="alignleft" width="800"]
CLVS Watching for a breakout if biotech holds up.[/caption][caption id="attachment_32449" align="alignleft" width="800"]
GPRO Getting oversold and in a bounce zone. Watching for a bounce, ideally a red to green type of move.[/caption][caption id="attachment_32450" align="alignleft" width="800"]
KITE Watching for a fade just in case .No clean spot but will be eying below 82.70 area.[/caption][caption id="attachment_32451" align="alignleft" width="800"]
LOCO Watching for continuation up over 24.90.[/caption][caption id="attachment_32452" align="alignleft" width="800"]
UCO Oil bounce hasn’t had a follow through day in a while. No expecting it either but keep an eye just in case it does.[/caption]
