The current price pattern in the S&P and spike in VIX set up a short term bullish scenario for the S&P if tomorrow February 24th the S&P futures open below 755. This pattern has occurred 48 times and 47 of the trades have been wins when using the below entry and exit criteria.
FYI our intermediate term S&P model and NDX model are long at higher prices from Feb 11th so this short term pattern is a nice confirmation trade while those intermediate term models are in a big drawdown.
If Open is less than 755 then Buy @ 755
Exit 1st profitable open or 2% stop loss
Below are the performance results of the current short term S&P setup based on 1 big contract trades since 1982. (click image to enlage)
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.
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