S&P 500 INDEX MODEL TRADING PLANS for FRI. 11/03
After testing low 4100’s, the index has rebounded this week in the midst of an influx of macro economic news which culminated into the FOMC as of yesterday. Yesterday’s Initial Jobless Claims is supporting the momentum so far. This morning’s Non Farm Payrolls release seems to be adding to the momentum of the “relief rally”.
We have been publishing since early October the following: “Our models indicate 4310 as the level to close above for the current bearish bias to be negated”. On Thu. 10/19, we wrote: “The market tested this level briefly yesterday, Wed. 10/18, but bounced right back up to close a few points above it. Subsequently, our models adapted a bearish bias and will continue to sport that bias while the index is below 4310. Yesterday, Thu. 11/02, the index closed above this level and our models have now negated the bearish bias and adapted a neutral bias, waiting to see the close today and on Monday, 11/06.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4358, 4333, 4320, 4302, or 4292 with a 9-point trailing stop, and going short on a break below 4348, 4327, 4316, 4298, or 4287 with a 9-point trailing stop.
Models indicate explicit long exits on a break below 4356, and explicit short exits on a break above 4351. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 09:35am EST.
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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