SHORT-TERM MODEL THINKS THE TREND IS UP, HOLDING BOTH SHORT (TRAPPED) AND LONG OVERNIGHT
First of all, again, take sometime to vote HERE, now it’s getting interesting, how many of you really think the low was in?!
The bottom line, as I said in the last night report, nothing bearish works. I don’t know how long this would last, hopefully forever though, as I dreamed of my yacht again last night, it was really huge and beautiful...
TICK closed above 1,000 so chances are tomorrow won’t be another 1%+ up day if not red.
A short setup is triggered today: SPY up 3 days in a row while volume down 2 days, short at today’s close, seems worked pretty well recently.
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM | ENTRY | STOP LOSS | Current 2*ATR(10) value: SSO=12%; SDS=13%; UPRO=18%;SPXU=19% | | Non-Stop | 09/23 S | N/A | | | Cobra Impulse | | | *For SPY, put a GTC limit buy 15 cents above 10/04 low. Stop loss = 1.7*ATR(10). | |
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