S&P 500 INDEX MODEL TRADING PLANS for FRI. 3/8/24

As we have been publishing for the last few days: “Bears need to be patient and not jump the gun, as any hasty shorts could prove to be choking in another bear trap”. This morning’s NFP numbers show that Powell’s unexpected dovish tone yesterday could be prescient and indicative of the “rate cut” regime coming closer. This could push the index to newer records, albeit with some choppy action surrounding potential concerns about softening economy and, yes, “valuation”. The risk continues to be upside than downside, so bears – if any still out there – need to be cautious.

Aggressive, Intraday Trading Plans:

For today, our aggressive intraday models indicate going long on a break above 5183, 5168, 5158, 5150, or 5132 with an 8-point trailing stop, and going short on a break below 5148 or 5129 with a 6-point trailing stop.

Models indicate explicit long exits on a break below 5180, 5165, or 5155.  

Models indicate explicit exits for today. Models indicate taking these signals from 09:46am 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) For the execution of our models trading plans, a “break above/below” is deemed to have occurred when the index closes above/below (if you are trading by bar close) a specified trading level.
(iv) For the trades to trigger, the breaks should occur during the regular session hours starting at 9:30am ET. By design, they carry only one open position at any given time.
(v) 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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