Today’s price action is an interesting moment for day traders to journal.
The trade scenario for the day was clearly a sell-short, but there was not enough “room-to-go” to justify the risk.
The setup was a sucker-play for new traders who don’t understand setting up risk-reward. To move further down the trader path requires adding more distinctions to your game plan. Read today’s list of stocks to trade and note the level of detail needed. We go as far are forecasting the opening price action we want to see.
Stock Trading Recap 11-16-15 | Monday Video
End of Day S&P 500 Map 11.16.15
S&P 500 heat map shows the strong day of buying. The only weak spot is travel related stocks due to the terrorist attack in France.
SPY End of Day Chart 11.16.15
Oversold bounce near minor support leads to an obvious day of buying.