Hello everyone, as you know the market had a huge up day
yesterday and today is totally the opposite action as of right now
the market has given all of yesterday's gains back, however that
should not surprise anyone too much as the action in the tech area
such as the Nasdaq was not very positive and unable to clear major
resistance levels, and the S&P 500 closed right at a broken
trendline, which was resistance.
Anyway regarding the SPY systems, as you know the SPY Pro, SPY
Ver 2, SPY RSI 2 systems went long on Monday at the close and
yesterday the SPY Pro scaled out of 20% of its position for a 1%
gain, thus taking off some risk and making some profits.
However with today's action the SPY system is now receiving a
sell signal and if this holds, the SPY Pro system will exit its
remaining shares tomorrow morning at the open, not at the close.
Remember the SPY Pro system exits long positions at the open
of the next day,
CLICK HEREto read why. The same is also true for the SPY Ver 2
system.
System Trades to recap:
-
SPY Pro system-
will exit its remaining shares tomorrow morning on the open and
going to a cash position
-
SPY Ver 2 system-
the same applies, will exit tomorrow morning on the open and will
be going to a cash position
-
SPY RSI 2 system-
will not be exiting as it's momentum indicator has not flipped to
red yet.
As long as we don't get a big gap down tomorrow the SPY pro
system should make small profit since it did get in at the
low on Monday and it took some profits yesterday. Even the
SPY Ver 2 should come out slightly profitable or break even.
The SPY RSI 2 system however is up in the air.
even though the SPY Pro and Ver 2 system exited on the open,
since the marketed gapped down some I think it would have been
prudent to personally see if the market could bounce from the gap
to get a better price i..e see how the gap behaved vs just selling
i.e. did it attempt to hold or just sell off i.e. employ a 15 min
gap rule. Otherwise the system did exit of course, but
personally non system way that would have been a way to look at
it
15mingaprule:
Draw 2 horizontal lines; one at the
lows and one at the highs of the first
15 - 20
min. If the market can stay
above the
15min high candle bar, the
it is considered positive and the
gap could possibly hold
up for the day , however if the market falls below the
15min low, then the
likelihood of the
gap fading increases
greatly. Realize that this is just a technique only and
doesn't work all the time!
Update on the SPY Pro and other SPY systems
Posted by matt on 10th of Apr 2014 at 12:21 pm
Hello everyone, as you know the market had a huge up day yesterday and today is totally the opposite action as of right now the market has given all of yesterday's gains back, however that should not surprise anyone too much as the action in the tech area such as the Nasdaq was not very positive and unable to clear major resistance levels, and the S&P 500 closed right at a broken trendline, which was resistance.
Anyway regarding the SPY systems, as you know the SPY Pro, SPY Ver 2, SPY RSI 2 systems went long on Monday at the close and yesterday the SPY Pro scaled out of 20% of its position for a 1% gain, thus taking off some risk and making some profits. However with today's action the SPY system is now receiving a sell signal and if this holds, the SPY Pro system will exit its remaining shares tomorrow morning at the open, not at the close. Remember the SPY Pro system exits long positions at the open of the next day, CLICK HERE to read why. The same is also true for the SPY Ver 2 system.
System Trades to recap:
- SPY Pro system- will exit its remaining shares tomorrow morning on the open and going to a cash position
- SPY Ver 2 system- the same applies, will exit tomorrow morning on the open and will be going to a cash position
- SPY RSI 2 system- will not be exiting as it's momentum indicator has not flipped to red yet.
As long as we don't get a big gap down tomorrow the SPY pro system should make small profit since it did get in at the low on Monday and it took some profits yesterday. Even the SPY Ver 2 should come out slightly profitable or break even. The SPY RSI 2 system however is up in the air.
The DVY RSI 2 system of course remains in cash
even though the SPY Pro
Posted by matt on 11th of Apr 2014 at 09:41 am
even though the SPY Pro and Ver 2 system exited on the open, since the marketed gapped down some I think it would have been prudent to personally see if the market could bounce from the gap to get a better price i..e see how the gap behaved vs just selling i.e. did it attempt to hold or just sell off i.e. employ a 15 min gap rule. Otherwise the system did exit of course, but personally non system way that would have been a way to look at it
15 min gap rule:
Draw 2 horizontal lines; one at the lows and one at the highs of the first 15 - 20 min. If the market can stay above the 15 min high candle bar, the it is considered positive and the gap could possibly hold up for the day , however if the market falls below the 15 min low, then the likelihood of the gap fading increases greatly. Realize that this is just a technique only and doesn't work all the time!
Do we have a SPY
Posted by traderdavek on 10th of Apr 2014 at 03:46 pm
Do we have a SPY PRO at the close?
See Sticky above traderdavek
Posted by steve on 10th of Apr 2014 at 03:47 pm
See Sticky above traderdavek
Cannot get sticky to open
Posted by traderdavek on 10th of Apr 2014 at 03:53 pm
Cannot get sticky to open - with either right or left click!
Click on "click to show"
Posted by pjwhiteley on 11th of Apr 2014 at 08:59 am