Model Positions – Friday, 07/27/18
Based on the S&P 500 Index Models’ outlook, forecast, and trading plans for Friday – published Thursday night – here are the current positions of the models. (click here to read/verify the full report and the quoted trading plans’ details)
Medium-term/long-term Models
Published Trading Plan: “For Friday, the medium term models have changed the trailing stop to a simple stop-loss at 2834. If the stop is hit, the medium term models indicate staying flat for the rest of the session.“.
==> Market Action: Today, the market hit the 2834 at 10:31am EDT. Consequently, the trailing stop triggered and the long position was sold by the medium-term models at 2834 for a 6-point loss. As published, the models will stay flat and there won’t be any new positions opened today for the rest of the session (click here to read on the conceptual workings of a trailing-stop)
Aggressive, Short-term, Intraday Models
Published Trading Plan: “A break below 2830 will trigger the models to go short, with an initial target of 2817, with a trailing stop of 8 points“.
==> Market Action: Friday morning, the index closed at 2829.45 at 11:16am EDT and triggered the models to go short, which was indicated to have been filled at 2830 level on the index (the next few minutes saw a trend up with the index reaching as high as 2832 before retracing).
As of the writing of this alert, @12:30pm, the session registered a low of 2824.55, and consequently, the trigger of the initial 8-point trailing is anchored at 2832.55. If the index reaches this level later in the day, the models will close the position at that price and stay flat for the rest of the day (click here to read on the conceptual workings of a trailing-stop)
As of the writing of this alert, @12:30pm, the session registered a low of 2824.55, and consequently, the trigger of the initial 8-point trailing is anchored at 2832.55. If the index reaches this level later in the day, the models will close the position at that price and stay flat for the rest of the day (click here to read on the conceptual workings of a trailing-stop)
NOTE @ 12:47pm EDT: Since originally publishing this update to now (about 15 minutes time period), the S&P 500 Index already hit the profit target of 2817 – and the models closed the trade for about 13 points profit and are currently flat (no positions) now! The models would NOT have any new positions opened for today and would remain flat for the rest of the session.
For the followers of the models, it has been another great week! Happy weekend, everyone!
For the followers of the models, it has been another great week! Happy weekend, everyone!