Current SPX Position: Long at 1661.82
Next Action: Stop and go short at 1640.61
System Score: 3=Bearish=Trend Score + Turn Score=5-2
Proposed New Score: 40%=Bearish=Trend Score + Turn Score=24+24
The System was whipsawed Friday stopping out of its long position opened at 1648 and going short around
16541651 and then reversing long again at 1662. You might be wondering why the System went long again if the Score is bearish. The issue is that 1662 is above the 20dSMA which improved the Score at that time but then SPX closed back below the 20dSMA. SPX needs to close an hour above 1663 to raise the stop-n-go-short level to 1654. Good fortune.
S2,
ReplyDeleteI'm confused. Shouldn't the system have gone short on Friday at 1651 and not 1654? I believe the close in the first hour on Friday wasn't high enough to raise the stop and go short level to 1654. Am I correct?
trading account, you are not confused. you are astute. the Friday opening hour reversed quickly enough to avoid closing at a new hourly high and thus the stop-n-go-short level should have remained at 1651, instead of 1654. I will correct my commentary. I have not updated the trading history in a couple weeks. thx
ReplyDeletethanks for the clarification! I wanted to make sure I understand the system.
ReplyDelete