Hello Everyone,
Quick Notes: Following yesterday's reversal candle (VIX Buy Signal), the major indices produced a big follow thru day back near their respective 20 day MAs. First thing here is to trim and trail up stops and keep an open mind with resistance levels still overhead. As always, we will respect the current trend until evidence changes. Follow YOUR plan and trade accordingly. It's worth noting that this year we have seen rallies for a few days following an FOMC announcement (Jan Mar April and June) which formed traps before selling off. Keep some hedges handy in case you see price reverse.
Please see trading community and emails for updates on the various SPY system trades. Some have exited at today's close with another on the open tomorrow leaving one system still long afterwards
Please take a moment to look at the trade ideas.
