Update 2016-05-23 10:45AM EST: Technical indicators have become mixed. Near-term indicators have turned positive while short-to-intermediate term indicators still skew negative. The MA setup is mixed-to-negative since there is near-term overhead resistance with the 20SMA and 50SMA turning over while the intermediate-term continues to try to roll over and the long-term MAs are converging and look poised to provide a decision point. The System stays in the current trade in such mixed technical circumstances so I am leaving the trade as is for now. There is unlikely to be a change until at least SPX closes above recent closing highs/lows at 2085 and 2040. Good fortune.
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| SPX Swing System Trading |
| Trade Date: | 2016-05-12 |
| Trade Position: | Short |
| Trade Entry: | 2058 |
| Trade Stop/Reversal: | 2091 |
| Trade Profit Areas: | 2040ish pivot support, 1995-2012 various SMA support, 1930-1960 50-62% Fib support and 1950 pivots |
| Indicator Divergences: | Extremely Negative |
| Indicator Extremes: | Neutral |
| SMA Setup: | Slightly Bullish |
| Important Events: | June 15th FOMC Decision |
| Trade Notes: |
| The System went short at 2058. SPX could hover around 2050-2060 +/- max pain this week but it is due for another runaway month and a bearish setup is there for a strong drop near the 1950s once 2034/2039 is broken. 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. |
| Position | Open | Price | Close | Price | Pts | Total |
| Short | 2016-05-12 | 2058 | ? | ? | ? | ? |
| Long | 2016-05-10 | 2083 | 2016-05-12 | 2058 | -25 | -73 |
| Short | 2016-04-21 | 2096 | 2016-05-10 | 2083 | +13 | -48 |
| Long | 2016-04-20 | 2109 | 2016-04-21 | 2096 | -13 | -61 |
| Long | 2016-03-23 | 2041 | 2016-04-20 | 2109 | -68 | -48 |
| Long | 2016-03-18 | 2050 | 2016-03-23 | 2041 | -9 | +20 |
| Short | 2016-03-08 | 1992 | 2016-03-18 | 2050 | -58 | +29 |
| Long | 2016-03-01 | 1967 | 2016-03-08 | 1992 | +25 | +87 |
| Short | 2016-02-23 | 1938 | 2016-03-01 | 1967 | -29 | +62 |
| Long | 2016-02-12 | 1847 | 2016-02-23 | 1938 | +91 | +91 |
S2, I know you're not an EW-guy but would love to hear your thoughts on this choppiness in the market. Are we in some sort of triangle? Thanks.
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