THE SHORT-TERM TREND IS UP, I HOLD BOTH LONG AND SHORT (TRAPPED) OVERNIGHT
I think pretty much everyone on Earth knows that the very 1st trading day of each month is very very (insert 100 very here) bullish, so guess the market is ready for another bull banquet tomorrow. I, however, has a little doubt, not necessarily tomorrow would be red, but chances are whatever upside we see tomorrow will be eliminated very soon. As usual, I’ll present my witness in tonight’s report which basically maintains my call in the weekend report – up but not without a fight.
For Cobra Impulse System, tomorrow is the key day – breaks above today’s high and closes in green, it’s long, while breaks down below today’s low and closes in red, it’s short.
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||*Short if breakdown below 05/31 low and closes in red tomorrow. The stop loss will be 2*ATR(10).
*Long if breakout above 05/31 high and closes in green tomorrow. The stop loss will be 1.7*ATR(10).
DEMO ACCOUNT FOR SHORT-TERM MODEL: