FYI - guys the SPY Pro scaleout version just hit its initial
profit target of 1% - therefore the SPY system just sold 20% of its
position which leaves 80% on the table. The next scaleout
comes at 2.5% which won't be hit if the system exits tomorrow on
open.
---------------
Guys - as you know the market has spiked up here after the FOMC
however expect a lot of volatility here. If the market can
close up today then it's possible that the SPY systems could get an
exit signal.
- For the SPY Pro system, if SPY can close over the 8 day SMA,
which is currently at $179.31 (SPY is trading at 179.7 as I type
this), the system will receive an exit signal but would close out
the trade tomorrow morning on the open.
- For SPY Ver 2 system - the same condition applies
- For the SPY RSI 2 system, SPY needs to close over the 9 day
SMA which is at $179.49, the system would exit today at the close
not tomorrow.
You can monitor these on your own by making a daily chart of SPY
and placing the 8 day SMA and 9 day SMA on the chart, here's a
chart that you can monitor on your own with the 8 and 9 SMA on it
for you
Amazing how quiet it is on the blog tonight after the move
today, maybe people are shell shocked LOL.
Guys FYI - I noticed that the SPY Pro system is NOT going to
sell it's trade tomorrow on the open!! I guess my TS was
frozen and the indicator was not updating, I refreshed it and it's
green - so the system is going to hold!!
I have some ideas, but also one thing around FOMC days, you
always gotta give it another day because there have been many times
in the past when price reversed the next day.
But otherwise we are in that bullish time of yet and if this
move extends, then we simply go higher again in the 5th wave, some
targets to the upside would be the pivot at 1828, and there's also
one at 1876. Remember also per the tutorial method - for the
bull case price should not retrace more than 50% of today's candle
over the next couple of days as that would be bearish, but if it
holds above 50% of the candle then that's a positive.
OPEX is also on Friday and the market has a tendency to have
inflections around this time,
here's some simple charts
SPY system trade status and notification
Posted by matt on 18th of Dec 2013 at 02:22 pm
FYI - guys the SPY Pro scaleout version just hit its initial profit target of 1% - therefore the SPY system just sold 20% of its position which leaves 80% on the table. The next scaleout comes at 2.5% which won't be hit if the system exits tomorrow on open.
---------------
Guys - as you know the market has spiked up here after the FOMC however expect a lot of volatility here. If the market can close up today then it's possible that the SPY systems could get an exit signal.
- For the SPY Pro system, if SPY can close over the 8 day SMA, which is currently at $179.31 (SPY is trading at 179.7 as I type this), the system will receive an exit signal but would close out the trade tomorrow morning on the open.
- For SPY Ver 2 system - the same condition applies
- For the SPY RSI 2 system, SPY needs to close over the 9 day SMA which is at $179.49, the system would exit today at the close not tomorrow.
You can monitor these on your own by making a daily chart of SPY and placing the 8 day SMA and 9 day SMA on the chart, here's a chart that you can monitor on your own with the 8 and 9 SMA on it for you
SPY daily chart
Amazing how quiet it is
Posted by matt on 18th of Dec 2013 at 08:53 pm
Amazing how quiet it is on the blog tonight after the move today, maybe people are shell shocked LOL.
Guys FYI - I noticed that the SPY Pro system is NOT going to sell it's trade tomorrow on the open!! I guess my TS was frozen and the indicator was not updating, I refreshed it and it's green - so the system is going to hold!!
Can't wait to hear your
Posted by hirahara on 18th of Dec 2013 at 09:33 pm
Can't wait to hear your opinion on where we are heading next!
I have some ideas, but
Posted by matt on 18th of Dec 2013 at 09:54 pm
I have some ideas, but also one thing around FOMC days, you always gotta give it another day because there have been many times in the past when price reversed the next day.
But otherwise we are in that bullish time of yet and if this move extends, then we simply go higher again in the 5th wave, some targets to the upside would be the pivot at 1828, and there's also one at 1876. Remember also per the tutorial method - for the bull case price should not retrace more than 50% of today's candle over the next couple of days as that would be bearish, but if it holds above 50% of the candle then that's a positive.
OPEX is also on Friday and the market has a tendency to have inflections around this time, here's some simple charts
Trade stats updated http://breakpointtrades.com/basket/past_trades.php
Posted by matt on 18th of Dec 2013 at 04:21 pm
Trade stats updated
http://breakpointtrades.com/basket/past_trades.php