Get ahead for Friday August 20, 2021
Aug 19, 2021Big gap down and reversal higher to close green in the SPY and QQQ. They are both pinched between the 20ma and 50ma so we can expect even more choppy trading until this is resolved. This continues to be a very selective stock picker's market so we will continue trade smaller size and be quick to take profit or losses. If you find yourself being frustrated by this price action you are in the company of many veteran traders. Not trading in this chop is a great way to preserve both mental and literal capital. Tomorrow is option's expiration for the month so expect some more volatility.
Have a great Friday!