Market Bounce, Key Notes, Congratulations🥳 (Follow Up)
Market Bounce, Key Notes, Congratulations🥳 (Follow Up)
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Hey-I wanted to follow up and give a big congratulations to our exclusive readers for not only nailing the move to the upside today in the market but, also seeing big wins on our featured high growth stock, DGII 0.00%↑ yesterday.
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Yesterday, we were pretty blunt, that over $360 on the SPY 0.00%↑ we can be aggressive to the long side and the SPY has hit around $365.
As you know, the time frame for holding positions has decreased and profit taking has become quicker due to volatility and that is why we feature ‘Quick Guides’ in our reports now, to give our exclusive readers quicker access to what we are thinking in a simple downed version without all of the words.
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A Quick Note
The SPY 0.00%↑ is trading around 2% higher but, is trading off of the intra day highs.
3 quick notes:
As long as it trades over $360 it has potential to hit the top of the prior range around $368-370
The 9EMA could act as resistance
We have to be prepared to flip short if it breaks down below $360
The closing price will be key here. A strong close would be very encouraging but, if the market does give back todays gains in the closing minutes then that would be of great concern.
Once again, congratulations to our exclusive readers for the nailing this move today.
Lets see how we close then circle back this evening.
Stay safe, have a plan and manage risk and if you're not a part of the paid substack, consider doing so.
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