Let's Trade

8/12/21 - Riding market momentum


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All 3 markets close higher, with the SPY and DOW posting new record highs. Look for a pullback tomorrow as investors typically sell on Friday and we have seen quite a few days of gains this week.

SAVA worked out for a winning trade today on a nice breakout play at around 10:35 (breakout = consolidation in price near high of the day, buy when it breaks above the consolidation), however FLGT unfortunately went against us despite a ton of potential room to move up.

Bitcoin slid until around noon but has since recovered nicely to sit back around 44.4k. Again, as long as it does not pullback below 43k we should be in good shape still for Bitcoin and the crypto market.

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Let's TradeBy Derek Hutson