The bottom line, short-term trend is up, but I hold no long position overnight and cut short position trapped last Friday at close simply because I have to follow my short-term model strictly (even though I still think a top of some kind is very close now).
Don’t get confused by my short-term model with the SPY ST Model which long is still there but the stop loss has been adjusted several times, hope you’ve seen that. As I’ve mentioned several time before, the SPY ST Model is designed to hold the position as long as possible, so you have to find appropriate time to take partial profit by yourself, especially before tomorrow’s FOMC that may cause the market to move dramatically in nobody knows direction.
One trick today, when CPC <= 0.81, 44 out of 63 times (70%) a green day the next day.
I know someone will ask, see chart below, there’s no apparent edge for bears when both VIX and SPY closed in green on the same day.
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