S&P 500 INDEX MODEL TRADING PLANS for FRI. 11/10

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 last week. Last week’s flurry of macro economic releases added to the upside momentum in an apparently “relief rally”. This week to test if it is sustainable or not.

As we have been publishing for the last few days: “Our models indicate 4385 as the immediate resistance, followed by 4415 as the main resistance for the bulls to overcome”. The index has tested the 4385 level and got rejected swiftly. It remains to be seen if it can re-test that level and break through it. Our models indicate no immediate downside risk while the index is above 4343 on a daily close basis.

Aggressive, Intraday Trading Plans:

For today, our aggressive intraday models indicate going long on a break above 4393, 4374, 4363, 4355, or 4345 with a 7-point trailing stop, and going short on a break below 4390, 4371, 4360, 4352, or 4342 with a 9-point trailing stop. 

Models indicate explicit long exits on a break below 4383, and explicit short exits on a break above 4386. Models also indicate a break-even hard stop once a trade gets into a 7-point profit level. Models indicate taking these signals from 11:06am 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.

(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please click here to see for yourself how our pre-published model trades have performed so far! Seeing is believing!) 

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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