Stepping back and reviewing the bigger picture, our attached SPY chart has been long from around 110. Only a close below the 115.75 level would put this uptrend in jeopardy. Did you notice the low on the SPY today? It was around 116. That was a hair away from our 115.75 level. Coincidence? As mentioned, our software was designed by some of the best institutional traders out there, so a test of that level is not surprising to us as we know the big players are watching this number as key support. Today was a great day with plenty of volatility and money making opportunities on our day trading and swing trading charts.
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That's pretty accurate Rampage. I love it.
ReplyDeleteSPY had a 90% down volume day, today ...and while it's not unusual to get a bounce after that - personally, I don't think what we saw today is over. (In after-hours, the dollar is still on the make.)
ReplyDeleteSo market risk is highest for long positions. I'm inclined to get flat and patiently wait for a new signal from Mr. Rampage. The software has already taught me that it's dangerous to think, too much!
Today's signals were excellent decision support - especially given the degree of volatility.