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Monday, November 17, 2008

S&P 500 a short term buy

Todays short term setup didnt get long because the S&P futures didnt open below 845. Lets see if we can get long tomorrow, November 18th.
The current price pattern in the S&P 500, and spike in treasury bond prices still set up a bullish short term ( 1-3 day) scenario for tomorrow November 18th, if the S&P futures open below todays low then buy at that low. See performance results of this pattern below.The intermediate term (1-7 day) S&P 500 model is already long at higher prices so this short term setup is a nice confirmation.

If Open <847.5 then Buy @ 847.5
Exit on 1st profitable open or 2% stop loss.

Click on image to enlarge. Results based on 1 contract trades since 1982.

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