Markets Struggling to Gain Some Traction – Day 2
Despite the initial downward momentum post-PMI release this morning, markets still seem stuck in the tug-of-war between the “Inflation peaked” optimism and the “recession onset” concerns, and the earnings season so far has failed to give either the bulls or the bears any real traction. Whether the earnings next week will help the markets gain momentum in either direction remains to be seen. Our positional models continue to be in an indeterminate state until further notice.
Positional Trading Models: Our positional models indicate no trading plans until otherwise published.
By definition, positional trading models may carry the positions overnight and over multiple days, and hence assume trading an instrument that trades beyond the regular session, with the trailing stops – if any – being active in the overnight session.
Intraday/Aggressive Models: Our aggressive, intraday models indicate the trading plans below for today.
Trading Plans for FRI. 04/21:
Aggressive Intraday Models: For today, our aggressive intraday models indicate going long on a break above 4150, 4134, or 4123 with an 8-point trailing stop, and going short on a break below 4146, 4129, or 4120 with a 9-point trailing stop.
Models indicate no explicit exits for today. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 11:01 am ET or later.
By definition the intraday models do not hold any positions overnight – the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform’s bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) – depending on your risk tolerance and trading style – to determine the signals.
NOTES – HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker’s execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance – USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
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