Healthy basing action in market as SPY bounced right on short term momentum 8 EMA.
As long Tuesday's low holds ,short term momentum will be alive and well. Decent action in individual stocks and sectors as sector rotation in full force. Money rotating from from sector to sector such as bio, energy, tech, small caps.China names. I will be focusing on China names, this group had big runs then orderly pull back to support and bounced hard today.Hopefully we will get a soft open so we can catch intraday setup. 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 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_33916" align="alignleft" width="800"]
ATHM China name, bouncing support. Continuation watch over 51.35.[/caption][caption id="attachment_33917" align="alignleft" width="800"]
BITA China name, bounced 20 MA and back over 50 MA resistance. Watching for continuation up.[/caption][caption id="attachment_33918" align="alignleft" width="800"]
CMCM China name, bouncing support.. Continuation watch over 23.[/caption][caption id="attachment_33919" align="alignleft" width="800"]
CYBR Holding 8 EMA support. Continuation watch over 58.92.[/caption][caption id="attachment_33920" align="alignleft" width="800"]
FEYE Bouncing 20/50 MA support. Continuation watch over 42.[/caption][caption id="attachment_33921" align="alignleft" width="800"]
WBAI China name,tight flag. Continuation watch over 16.93.[/caption][caption id="attachment_33922" align="alignleft" width="800"]
YY China name, bouncing support. Continuation watch over 61.76.[/caption]
