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*Please make sure you understand how to use the table above. The main purpose of this report is to provide information so contradictory signals are always presented.
*DTFMS = Dual Time Frame Momentum Strategy. The signal is given when both weekly and daily STO have the same buy/sell signals.
SEASONALITY: THE LAST TRADING WEEK OF MONTH WAS BEARISH SINCE AUG 2009
See 05/21 Market Recap for more details.
INTERMEDIATE-TERM: PULLBACK TARGET AROUND 1008 TO 1019, NEXT TIME WINDOW AROUND 06/06
See 05/21 Market Recap for more details.
WARNING: If you don’t understand the true meaning of overbought/oversold, please skip the session below. Generally, you should try your best not to trade against the trend. Trading purely based on overbought/oversold while against the trend is lethal to the health of your account. Before going further, please make sure you understand how to use the table above.
SHORT-TERM: COULD SEE SOME WEAKNESS TOMORROW MORNING
0.1.0 SPY Short-term Trading Signals, today is the SPY’s 3rd bullish reversal day, the previous 2 were failed, so will the 3rd time be the charm? I’m not sure, but at least the chances should be better than the previous 2 times. I’ll temporarily define this as a short-term rebound if we could see a follow through tomorrow. However since both SPY ST Model and Non-Stop Model are still in SELL mode so the strategy is still to sell the bounce.
1.0.0 S&P 500 SPDRs (SPY 60 min), ChiOsc is way too high. This is the catch for bulls tomorrow, most likely it means some weakness in the morning.