Market had a strong reversal day after heavy overnight decline, following Russian invasion of Ukraine.
It was quite a dramatic action during the entirety of the trading session.
Markets were down almost -3% in the premarket hours. Right after the open, there was little to no hesitation and then price started climbing, with the SPY (S&P 500) closing +1.5%, the IWM (Russell 2000) up +2.6% and the DJI (Dow Jones) up 0.28%.
The tech sector in particularly rallied strongly with the QQQ (Nasdaq 100) closing +3% up on the day.
In today's Trades of the Day video we go over the indices, some of the inverse ETFs we have been trading during the recent decline (SQQQ, SPXS, TZA...), and some other stocks that have the potential to do well, especially if market extends today recovery effort.
Make sure to watch this video to get the technical insights.
Good trading!
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