THE SHORT-TERM TREND IS DOWN, I HOLD SHORT POSITION OVERNIGHT
A little bullish biased toward tomorrow and still hard to say if the real bear attack has started, definitely need a follow-through tomorrow. I’ll explain this in tonight’s report.
Two TradingMarkets long setups were triggered today both claimed to have over 80% winning rate.
Due to SPY data error on StockCharts, Cobra Impulse System issued a “cover” signal today and a potential buy setup is pending. I don’t know how to handle this kind of situation, so decide for yourself. Officially, unless the data error could be corrected in the following days, otherwise I’d have to report the false signals from now on, i.e. cover today at close and in the next 11 trading days if SPY drops to around $131.59 + 0.15 (today’s low), it’s a strong buy with 100% winning rate!
MECHANICAL TRADING SIGNALS:
|Long-term||2 of 2 BUY|
|Intermediate||5 of 5 SELL||5 of 5 NEUTRAL||Cobra Impulse in SELL mode; Non-Stop in SELL mode.|
|Short-term||6 of 6 NEUTRAL|
|SPY SYSTEM||ENTRY||STOP LOSS||INSTRUCTION: back test is HERE, signals are HERE.|
|Non-Stop||05/10 S||N/A||Short is for aggressive traders only.|
|CI Buy & Hold||05/17 S||N/A|
|CI Swing||05/17 S||*Breakeven||*Adjust stop loss.
*Due to data error, cover signal is issued. If you use the error data then within the next 11 trading days, any time SPY drops to $131.59 + 0.15 area (05/23 low), it’s a long setup with 100% winning rate!
DEMO ACCOUNT FOR SHORT-TERM MODEL: