Current Positions and Biases of our S&P 500 Index Trading Models:
Based on the Trading plans published last night (click here to read the full Forecast), our models are monitoring the market action around the 2810 level (medium-term models), and the 2785-2795 band (intraday, aggressive, short-term models). Currently, both term models are in long positions (bought).
Medium-term models triggered a long position on the break above of 2810 and are currently long.
Intra-day/aggressive/short-term models triggered a long position on the break above of 2895 (the index opened at 2789.34 and then has been steadily climging up).
Current/Updated Trading Plans:
Medium-term/long-term Investors
Medium-term models are currently long – bought at 2810.50. As published last night, “If long and the index touches 2814, place a 10-point trailing stop and let the position run or let the stop hit”. Accordingly, medium-term models would be placing a trailing-stop IF the index trouches 2814 with the stop anchored 10-points lower (@2804 to start with).
(click here to read on the conceptual workings of a trailing-stop)
Aggressive, Short-term, Intraday, or Professional Traders
These models are currently long – bought at 2795.50. As published last night, “If long and the index touches 2805, place a 10-point trailing stop and let the position run or let the stop hit.”. Accordingly, the models already have a trailing stop placed on the break above of 2805, with the initial stop trigger at 2795.
With the market’s high registered at 2811.42, this stop’s trigger is currently (as of this writing, @ 12:50pm EDT) at 2801.42 (for locking in a profit of about 6 points on the entry of 2795.50).
IMPORTANT NOTICES & DISCLAIMERS – READ CAREFULLY:
(i) This article contains personal opinions of the author and is NOT representative of any organization(s) he may be affiliated with. This article is solely intended for informational and educational purposes only. It is NOT any specific advice or recommendation or solicitation to purchase or sell or cause any transaction in any specific investment instruments at any specific price levels, but it is a generic analysis of the instruments mentioned.
(ii) Do NOT make your financial investment or trading decisions based on this article; anyone doing so shall do so solely at their own risk. The author will NOT be responsible for any losses or loss of potential gains arising from any investments/trades made based on the opinions, forecasts or other information contained in this article.
(iii) Risk Warning: Investing, trading in S&P 500 Index – spot, futures, or options or in any other synthetic form – or its component stocks carries inherent risk of loss. Trading in leveraged instruments such as futures carries much higher risk of significant losses and you may lose more than you invested in them. Carefully consider your individual financial situation and investment objectives before investing in any financial instruments. If you are not a professional trader, consult a professional investment advisor before making your investment decisions.
(iv) Past performance: This article may contain references to past performance of hypothetical trades or past forecasts, which should NOT be taken as any representation or promise or guarantee of potential future profits. Past performance is not indicative of future performance.
(v) The author makes no representations whatsoever and assumes no responsibility as to the suitability, accuracy, completeness or validity of the information or the forecasts provided.
(vi) All opinions expressed herein are subject to change at any time, without any notice to anyone.