INTRADAY ALERT – THU – MODEL POSITIONS
Based on the S&P 500 Outlook/forecast published last night, here are the current positions held by our models:
Medium-term/long-term Models
FORECAST: “For Thursday, medium-term models indicate an indeterminate bias between 2760 and 2795. Above 2795, bulish bias, and bearish bias below 2760. Tight stops indicated in both the directions.” (click here to read the full forecast published last night)
ACTION: Today, the medium-term models initiated a long position (bought) at the index level 2795.50, with a trailing stop of 8. With the session high registered at 2798.52 as of now (2:05pm EDT), the stop trigger is currently set at 2790.52.
Aggressive, Short-term, Intraday, or Professional Traders
FORECAST: “For Thursday, the models indicate an indeterminate bias between 2765 and 2785. Above 2785, bullish bias, and below 2765 bearish bias. Models to stay flat between these levels. Indications are to use very tight stops on both sides (around 10 points, depending on your trading style and risk appetite).” (click here to read the full forecast published last night)
ACTION: Today, the intraday/agressive/short-term models have opened a long position (bought) at the index level 2785.50, with a trailing stop of 8 points. With the session high registered at 2798.52 as of now (2:05pm EDT), the stop trigger is currently set at 2790.52.
Happy trading/investing!