S&P 500 INDEX MODEL TRADING PLANS for THU. 08/31

As we wrote in our trading plans published Mon. 08/28: “If we get a daily close above 4415 today then our models will flip to a moderately bullish bias. If not, they will continue to sport their bearish bias”. We got this confirmation with Monday’s close, and our models have turned cautiously bullish on Tue. 08/29.

There are mixed signals about the viability of this push up, hence the cautiousness. Critical levels of 4520 and 4500 are now in play. With the NFP coming up tomorrow, Friday, there is a risk of volatile spikes in either direction. If you are entering into a positional trade, make sure you have enough bandwidth to sustain wide swings.

Aggressive, Intraday Trading Plans:

For today, our aggressive intraday models indicate going long on a break above 4531, 4522, 4504 or 4491 with a 9-point trailing stop, and going short on a break below 4488, 4500, 4518, or 4528 with a 9-point trailing stop. 

Models do not indicate explicit exits today. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 09:36am EST or later.

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.