S&P 500 INDEX MODEL TRADING PLANS for WED. 4/3/24

With the Fed’s inflation fight practically in the rear-view mirror, rate-cuts on the horizon, and new all-time highs being slapped on the indexes week after week, is there going to be a “buy the rumor, sell the news” settling in, or is the break-neck bull run since November going to continue? That is the question some are pondering, with no obvious answer anywhere, of course.

Until otherwise noted, our models continue to indicate that the bias continues to be markets pushing to the upside than to the downside, so, bears – if any still left out there – need to be cautious about jumping the gun and taking on premature shorts. A daily close below 5170 is needed for the current bullish bias to be negated. This level appears poised to be tested today sometime, and whether it rebounds from there or closes below that would determine the next leg of the index.

Aggressive, Intraday Trading Plans:

For today, our aggressive intraday models indicate no trading plans but sitting on the sideline as they are anticipating a test of the key 5170 level and how the index behaves around that level into the daily close. 

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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