The current price pattern in the S&P and sharp decline in the long bond set up a bearish short term scenario if tomorrows open in the S&P futures is above today’s high 859.5. This pattern has occurred 46 times and all 46 instances the S&P has declined when using the below entry and exit criteria. FYI our intermediate term (1-7 day) S&P model and intermediate term (1-7 day) NDX model both got short at the close today so this short term (1-3 day) pattern is a nice confirmation trade while those models are in a drawdown.
If open is greater than 859.5 then SS @ open minus 2 pts
Exit 1st profitable open or 2% stop loss
Out of the 4 short term trades that have hit since we started this blog, we made 15pts on the
Jan 15h long entry, lost 17.3 pts from
Jan 13th long entry, lost17 pts on
November 18th, but made 52 pts on the win
from October 28th Net, the short term system is up 32.7pts in 4 trades.
2 comments:
No Ripes this evening?
Nope.
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