The SPY continues to move closer to 2015 highs.
As price action moves higher, this lowers the reward potential but that hasn’t stopped bullish day traders from continuing to bid the market higher. Friday’s heavy selling into the close appeared to be a necessary pause in a strong five week rally but it was short-lived.
Members of our live trading continue to be in day trading mode which means a focus on the most recent price action. The stock market, and many high-beta stocks continue to alternate days of buying and selling pressure. Our community is short-term trading right now.
You would be wise to do the same.
Stock Trading Recap 11-2-15 | Monday Video
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End of Day S&P 500 Map 11.2.15
S&P 500 heat map shows a well-bid day from start to finish. An interesting contrast from Friday’s selling on high volume.
SPY End of Day Chart 11.2.15
Green across the board. Healthcare stocks continue bullish momentum.