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Here's that daily channel chart, as you know price tested the
uptrend line of the channel on Friday and held it. Also price had
spiked slightly through the 50 day MA, only 0.5%. On the previous
test it was very similar at 0.59%.
The second image shows the daily SPX KISS, the system drew a new
DVT there (see magenta color). The 2hr had went long on the
open. Funny how the cycle buy on the daily and 195 min worked out.
On the 2hr time frame the the 60 Stochastic is now testing the
underside of 50%
that said as you know on Friday the DVT at 3795 was hit but only
by 6 points and was for only about 5 or 10 min that morning.
If you exited at the DVT that's fine. If you didn't as I
commented on the weekend Friday's lows would be a good DVT now.
that said - I've talked about a few filters one could possibly
use: That statistic I show on the first image where the SPX
basically undercut the 50 day MA by only 0.5% then closed back
above it, just like last time. One rule going forward could be if
the DVT happens to be right near the 50 day MA, can give some
slight wiggle room just below the 50 day. Like I said before this
isn't exact science, but the general rule is one that kind of makes
otherwise big rally today, typical if this market. we'll see now
if that was it and we go back to highs or a lower high still gets
Matt Is there a set of rules we can develop for consistency
around the kiss? Maybe it gets even better if we use some of
these other indicators you mentioned to accompany. Thanks for
keeping us updated!
IWM daily BPT MA is green again, we'll see if it closes
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