UPDATE TO EARLIER ALERT:  The trigger price has changes from below $143.10 to now below $142.84.  Please note the change!

10/22/12:

The SPY Swing System will execute a new Long position today at the close if the SPY closes below $143.10.

Yes the system did just close a long on the open and yes it is looking to go back long.  This has happened before but it is not common. 

This Long trade will represent 100% position for the Single en try system and 40% for those following the Multi En try.  As always please trade as you see fit.  We will send another alertONLY if the trigger price changes.  Otherwise you should consider this alertthe official alert.  As always we will also be answering questions and making comments on the SPY section of the Trading Community.

Please trade as you see fit.

It is amazing that sometimes a chart looks like it needs to go lower, bam, news then comes out to help in that effort.  Moves pretty well through the 89 week SMA which is roughly the CYAN.  Obviouslynot at all to make light of the 5 potential deaths.

Chart Link

The SPY Swing System is in cash awaiting a new signal.

Good morning traders,

A quick look at the S&P 500 from Sunday night into this morning.

10/19/12:

The SPY Swing System will exit (sell) the current Long position and go to cash ON THE OPEN Monday (10/22/12).

I will leave all notices up until I get the official price on Monday's open and then I will update the SPY section and post in the community.  As for the Historical Trades section - that will be updated to reflect the closed trade within a few days from Monday (and likely Monday evening).

As always please trade as you see fit.

thomas@breakpointtrades.com, I will be checking all weekend!

hey peter,

The alert price is set below the level which we have deemed significant on the chart.  You would want to then refer back to the chart (or now also go into the new Trade Ideas list and play the audio) for notes on the expectation.  It is possible that there will be ideas meant for only a quick trade all the way out to longer swings depending on the formation and current market.  As steve mentioned as I was typing, if after reviewing you still need assistance please email in and we will schedule a time to help you further.

Depending on how the rest of the day plays out we may have a sell signal for Monday.  I will send an official note after the close when I have a concrete signal.

FYI I have the 150 Day MA on AAPL as $613.86 although it has a little more a flat slop instead of angled.

The market is helping this one go where technicals probably would have taken it anyway but still watching the 89 Week MA which is represented closely to that Cyan line at the bottom as a possibly shot long.

Chart Link

Not picture perfect but still seems to be working on a consolidation with the high at the 38 fib on weekly and low the 200 day SMA.  Still looking to see the daily MACD recycle.  Obviously this will be somewhat counter to the USD which would continue to press lower as eurusd moves higher due to correlations.

Best wishes and speedy recovery to your daughter!

A snap shot of this morning's trading as we are currently down $2.50 points pre-market.

Last look at the week with Existing Home sales at 10 am EST.

showing the 388 print

hey burk,

I think your using the calendar we posted and what they are showing for the 21st is just the Quarter which we don't track.  The next is a New Moon the 29th.  Its not perfect but I just think about every 2 weeks (since it is a 29.5 day cycle).

The 200 day MA (and 13 week MA) held as hoped and this rally of positive divergence on the Daily has been really straight forward.  Target remains in the 1.34 area with the confluence of fibs and the 89 week MA.

... and that will mark the top with the moon cycle  Way to ruin it!

I don't want to sound overly negative but today's move in AAPL for me so far just filled a gap at 652.59 and with the 20 and 50 day SMA's above I might like to see more personally before I say the coast is clear.

Don't forget to check for earnings on any stocks you might be trading/holding.  Here are some notable companies reporting after the bell include American Express (AXP), eBay (EBAY), Noble Corporation (NE), SLM Corp. (SLM), Stryker (SYK) and Xilinx (XLN).