THE SHORT-TERM TREND IS UP, I HOLD NO POSITION OVERNIGHT
Mixed signals for tomorrow. On one hand, FOMC usually is bullish but on the other hand the NYADV is way too high which had a little bearish edge.
The short position held by Cobra Impulse System was stopped out today but there’s a potential short setup for tomorrow, see table below.
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.|
|Cobra Impulse||*Stopped out on 06/21 with gains.
*Sell short if SPY drops below 06/21 low and close in red tomorrow. The stop loss will be 2*ATR(10).
DEMO ACCOUNT FOR SHORT-TERM MODEL: