THE SHORT-TERM TREND IS DOWN, I HOLD NO POSITION OVERNIGHT
The bottom line, the damage is done, so it takes time for the market to find a footing.
SPX down 7 days in a row, there are only 2 cases since 1991, both dropped again the next day.
Major Distribution Day (NYSE Down Volume : NYSE Up Volume >= 9) today, so 41 out of 64 times (64%) a green day tomorrow.
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM | ENTRY | STOP LOSS | Current 2*ATR(10) value: SSO=6%; SDS=6%; UPRO=9%;SPXU=8% | | Non-Stop | 08/02 S | N/A | Short is for aggressive traders only. | | Cobra Impulse | 08/01 L | 1.7*ATR(10) | | |
| DEMO ACCOUNT FOR SHORT-TERM MODEL (Attention: This is not part of Cobra Impulse System) |
| TICKER | Entry Date | Entry | Share | Stop Loss | Exit Date | Exit | Profit | Comment | | | | | | | | | | | LAST | | | | | | | 2248.50 | | | SUM | | | | | | | 2248.50 | | |
- $300 max loss allowed per trade. For fun only.
- LAST = Year to the last month balance. SUM = Year to date realized gains/losses.
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