yes frtaylor on your chart, testing that trendline.
again the 'bulls' needs to come in and defend this area very
soon, otherwise prices probably flush down to the Feb low on SPX.
Again Friday with this news overhang, people nervous going
into the weekend, not a good day.
that's also why I sent that SPY system alert out early this
morning because I thought many people might have elected to just
sell today vs waiting for Monday, or placing a stop at Wednesday's
large candle.
no - I already said it was closing out. The system could
enter a NEW trade on a really good sell off to new lows, from
another high probability sub system like the RSI Oversold, i.e. if
the SPY flushed down below the 200 MA for example on to the Feb
lows. The current system could not trigger again because it
does not take longs below the 200 MA
SPX 2-hr BPT SPX 2-hr chart:
Posted by frtaylor on 6th of Apr 2018 at 02:48 pm
SPX 2-hr
BPT SPX 2-hr chart: testing the wedge upper trend line.
yes frtaylor on your chart,
Posted by matt on 6th of Apr 2018 at 02:54 pm
yes frtaylor on your chart, testing that trendline.
again the 'bulls' needs to come in and defend this area very soon, otherwise prices probably flush down to the Feb low on SPX. Again Friday with this news overhang, people nervous going into the weekend, not a good day.
that's also why I sent that SPY system alert out early this morning because I thought many people might have elected to just sell today vs waiting for Monday, or placing a stop at Wednesday's large candle.
if the market sells off
Posted by alvinjm27 on 6th of Apr 2018 at 03:10 pm
if the market sells off more say, closer to the recent lows/Feb lows, will SPY re-enter long or take 2nd entry?
no - I already said
Posted by matt on 6th of Apr 2018 at 03:12 pm
no - I already said it was closing out. The system could enter a NEW trade on a really good sell off to new lows, from another high probability sub system like the RSI Oversold, i.e. if the SPY flushed down below the 200 MA for example on to the Feb lows. The current system could not trigger again because it does not take longs below the 200 MA
Agreed! Does NOT look good
Posted by frtaylor on 6th of Apr 2018 at 02:54 pm
Agreed! Does NOT look good right now! And thanks for your pm earlier.