S&P 500 INDEX MODEL TRADING PLANS for FRI. 4/26/24
The index closed at 4123 two Fridays ago, and, after inflation-concerns related gyrations the index is likely springing back to test that level again. Our trading plans into that week stated: “A daily close below 5170 is needed for the current bullish bias to be negated. This level appears poised to be tested this week sometime, and whether it rebounds from there or not would determine the next leg of the index”. With some whipsaw around this level, the index finally broke below it and tested sub-5000 levels before springing back up.
As of our last trading plan, our models were sporting bearish bias and indicated to stay so while the index is below 5056 on a daily close basis. This level is back in play today, but it takes a daily close above 5116 for our models to turn bullish again. Between 5056 and 5116, our models stay indeterminate.
Aggressive, Intraday Trading Plans:
Our aggressive intraday models indicate sitting on the sidelines, while monitoring the market action around the key levels mentioned above. No trading plans until otherwise published.
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.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #softlanding, #higher4longer, #higherforlonger, #softlanding, #consolidation, #newbullmarket, #earnings, #recordhigh, #sp5000, #sp5k, #alltimehigh, #nonfarmpayrolls, #nfp, #jobs, #cpi, #iran, #israel, #geopoliticaltensions, #middleeast