Thursday, March 3, 2016

System Long from 1967, Reversal Level Now 1987/1990

SPX Swing System Trading
Trade Date:2016-03-01
Trade Position:Long
Trade Entry:1967
Trade Stop/Reversal:1987 intra-day (or any gap down below 1990)
Trade Profit Areas:1986-2004 gap resistance, 100SMA 2000 and 200SMA 2020
Indicator Divergences:Neutral
Indicator Extremes:Very Negative
SMA Setup:Very Negative
Sentiment:Short-term Negative, Medium-term Neutral
Important Events:FOMC decision Wed March 16th
Trade Notes:
The System remains long. All short-term divergences I follow are gone, but multi-month indicator extremes are near alarming levels. A strong pullback remains imminent. Perhaps SPX will drop next week and retest/retrace into the FOMC meeting. Regardless, the stop and reversal level is 1987 intra-day or a gap to 1990 or below. Good fortune.



SPX/SPY Trade History
Trade history only includes the initial entry and final exit prices, not any profit-taking and reloading in between, so mileage may vary.
PositionOpenPriceClosePricePtsTotal
Long2016-03-011967????
Short2016-02-2319382016-03-011967-29+62
Long2016-02-1218472016-02-231938+91+91


Chart from Monday

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