Bearish setup for Monday July 20th

We will give the same short setup a shot for Monday.

This is a short term trading system setup. The current price pattern, low relative VIX and decline in bond prices have bearish implications for the S&P near term if today July 20th the S&P futures open above 938.5 then declines 2 pts below the open. This setup criteria is based on the big S&P contract not the ES .Entry criteria is based on the big S&P futures price 9:30 EST time open. You can get quotes here. The performance results are based on 1 large contract trades since 1982

If open is greater than 938.5 then Sell Short @ open – 2 pts
Exit 1st profitable open or 2% stop loss

Performance results based on 1 contract trades since 1982.

Out of the 9 short term trades that have hit since we started this blog, we made 17 pts from the long on July 9th, made 14.8pts from the short on June 5th, made 9.5 pts from the May 7th short ,made 45.2 points on the long from April 1st , plus a 12pt win on the Feb 24th long entry, 15pt win on the Jan 15th long entry, lost 17.3 pts from Jan 13th long entry, lost 17 pts on November 18th, and made 52 pts on the win from October 28th Net, the short term system made money on 7 out of 9 trades for a total gain of 131.2 pts.