Amazing how fast the stock market sentiment went from bearish to bullish.
Four days ago our game plan had the stock market was falling off a cliff and ready to trade below major support at $188. Now we can’t find a seller in sight.
This tape is confusing a lot of traders. If this is you, the reasons are simple;
- You don’t have a clear image of price action that defines your trading strategy.
- You have a clear trading strategy and you are blindly ignoring it and you are short the market.
There comes a time as a trader where you realize your job is to trade what is probably going to happen. If your game plan doesn’t follow through, you simply manage risk and move onto the next trade.
Some traders never admit trading is about probabilities. They trade their ego and brilliant analysis.
Don’t let this be you. Watch today’s video and write down the quote I give you at the end.
Stock Trading Recap 10-5-15
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End of Day S&P 500 Map 10.5.15
SPY End of Day Chart 10.5.15