Trading Plans for MON. 10/21/24 – Earnings Season In Full Swing
Last week’s CPI and PPI seem to give investors the visions of the macro economic Goldilocks scenario to continue. Whether Q3 earnings that earnestly kicked off on Fri. 10/11 are going to bolster this view would depend on what the earnings numbers AND the outlook are going to look like, and how the geopolitical situations evolve.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 5901 5883 5870 5857 5850 5823 5811 5801 with respective trailing stop of 7 points except for 5901 which has a 9-point trail, and going short on a break below 5793 5800 with respective trailing stops of 7 8 points, and 5809 5821 5831 5848 5856 5868 5877 5899 with a 9-point trailing stop.
Models indicate explicit long exits at 5880 5840 5814 (if touched), and explicit short exits at 5880 5842 5833 5815 5795 (if touched). Models also indicate instituting a break-even stop (which would trigger on an if-touched from above/below basis when in effect) once a position hits a 3-point profit level. Models indicate taking these signals from 11:01am ET.
By definition the intraday models do not hold any positions overnight (unless otherwise stated explicitly) – the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform’s bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) – depending on your risk tolerance and trading style – to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check our latest Results posting to see for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES – HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker’s execution, any slippages, your trading commissions and many other factors.
(iii) For the execution of our models trading plans, a “break above/below” is deemed to have occurred when the index closes above/below (if you are trading by bar close) a specified trading level.
(iv) For the trades to trigger, the breaks should occur during the regular session hours starting at 9:30am ET. By design, they carry only one open position at any given time.
(v) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance – USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
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