Simba Sana

Good morning! Theres your fade of the "peace deal" and the retrace back to 750 on $SPY A hold under 747.90 and Im expecting 745.80-->744.16. A reclaim of 750 takes us back to 755. Trade with purpose today!

$SPY/ BOTTOMS As you can see from the chart below ( you can go back further for reference) but each 10%+ dip has been met with a surge in volume near the bottom. During a 10%+ correction $SPY volume spikes to an average of 130 million to 140 million shares per day. To put this into perspective, Thursday November 5th traded at a daily volume of 125 million shares. A typical day in the market is around 40- 50 million. So, how can we identify a local bottom? Looking for a re-test of lows, to see whether we make new lows OR a higher low to mark a bottom, signaling seller exhaustion. With this we will also look for certain candlesticks, I.E- Hammer, Bullush engulfing, dragonfly doji. Most people get scared or capitulate in this type or drawdown, BUT make no mistake, THIS is where the money is made!

I WISH I would have known what I do now, 8 years ago when I started trading. Here are THREE of the biggest lessons ive learned in the past 8 years... 1. Waiting is a HUGE part of the game. Trading "bored" and letting a set up present itself, will not only get you to profitability, but will also build GOOD HABITS. 2. Buy the fear! Positioning yourself in high volatility environments and putting cash to work in companies YOU believe in when they are on "SALE", has bolstered my port year after year. The end case is the bullcase. 3. Be OK with being wrong. Managing risk is a MUST. The market will fake you out, its inevitable. Learn to pivot, dont be rigid, the best traders move with the market, not with their emotions. The stock market is the best wealth building machine in the world if you "use it right".