The back-and forth price action in the SPY today has many day traders scratching their head.
To be successful in this type of stock market, I recommend eliminating one side and ignoring any signal that isn’t perfect. I know that sounds obvious but it’s not. Trading one stock long and short the same day is tempting when the trend is not clear.
At some point we all succumb to the misguided thought process of trading both sides intra day. Flipping back-and-forth can wreak havoc on your confidence to hold good trades when there is a trend.
It’s very tough to trade trends then switch to scalping. Stick to one side, you will be glad you did.
Stock Trading Recap 11-11-15 | Wednesday Video
End of Day S&P 500 Map 11.11.15
S&P 500 heat map shows market leaders catching their breath.
SPY End of Day Chart 11.11.15
Tough day when utilities are the strongest sector.