Trading Plans for MON. 9/9/24 – Soft Landing or Not ?
The non-farm payrolls data last Friday ramped up the hopes of Goldilocks scenario to continue on until otherwise burst. Markets to focus on the inflation numbers to be released later this week to (re)assess their odds of the Fed’s ability to orchestrate a soft landing. Till those releases, markets could go through some consolidation.
On Wed. 9/4/24, we published: “With the SPX close of 5528.93 our models have negated the bullish bias (for a 200+ points gain since flipping to the bullish bias) but, considering how far away the close is from the flip level of 5575, the models did NOT flip to a short but are flat and indicate waiting for a better entry for a positional short – with an open order to enter short at 5545 with a 10 point trailing stop”.
That order got filled on Wednesday and our positional models are short at 5545. They stay short while the index is below 5475 on an hourly close basis – will close out the short on an hourly close above at or above 5475.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 5471 5455 5440 5431 5419 5403 with an 8-point trailing stop, and going short on a break below 5390 5402 5439 5454 5469 with a 10-point trailing stop.
Models indicate explicit long exits on a break below 5418 5430, and explicit short exits on a break above 5392. Models also indicate instituting a break-even stop (which would trigger on a break above/below any entry level in the same direction) once a position hits a 3-point profit level. Models indicate taking these signals from 09:42am 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), unless otherwise specified.
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 check our latest Results posting 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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