MODELS LIKELY TO CARRY THE OPEN SHORT POSITION INTO THE WEEKEND
You read in our Intraday Alert published this afternoon (click here for the full report) that our models opened a short position, after closing one with profit, and placed a stop-loss at 2766.
It looks like this 2766 stop-loss (on the S&P 500 Index level) is not likely to be hit before the session closes today and for the week. Models are flashing a little weaker bulls and speculate another leg below 2760 into the Monday session, the movement of which would hold further clues on the next week’s directional bias.
With such anticipation of the weakness, Models to continue holding the short position into the weekend (typically not done by the short term models). The stop loss continues to be at 2766.
It was a great week for the models. And, wish you all a wonderful weekend ahead!
It looks like this 2766 stop-loss (on the S&P 500 Index level) is not likely to be hit before the session closes today and for the week. Models are flashing a little weaker bulls and speculate another leg below 2760 into the Monday session, the movement of which would hold further clues on the next week’s directional bias.
With such anticipation of the weakness, Models to continue holding the short position into the weekend (typically not done by the short term models). The stop loss continues to be at 2766.
It was a great week for the models. And, wish you all a wonderful weekend ahead!