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), the positions of our models are:
Medium-term/long-term Models
The forecast mentioned using the daily close for any new positions by the medium-term models. Hence, there would be no positions initiated by these models until after the close of the regular session today and depending on the close.
Aggressive, Short-term, Intraday Models
The forecast mentioned: “For Tuesday, these models indicate 2808-2804 as the pivot band. A cross above 2808 during the regular session would trigger the models to go long (buy), while a cross below 2804 during the regular session would trigger the models to go short (short-sell). “
In the first five minutes of the regular session’s open, the models indicated getting filled at 2820.75 (the index level) on the planned long position (since it crossed the 2808 level at the open). Also, the models placed a trailing stop of 6 points on the position, which as of this writing (10:55am EDT) is to trigger at 2823.99 (the session high for now is at 2899.99).
(click here to read on the conceptual workings of a trailing-stop)
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.