- The MKT has a firm tone and as long as the integrity of the previous session low remains intact, look for excuses to get long. On the SELL side UP FADE strategies are valid but profit targets and risk management should be tight. REVERSAL strategies should be applied only at the UP and +c after an exhaustive signal. Use DP BREAKOUT strategies as a signal to FADE a positive reaction against the DIR. Only until the MKT breaks the positive structure are sell signals an opportunity.
- On the BUY side BREAKOUT, FADE and REVERSAL are recommended as the MKT is bid and all buy signals are valid opportunity. If stopped out at or near the low tic of a reaction and the MKT is not following through to the downside, look to re-enter using the recent squeeze low as a stop. If the MKT breaks structure, de-leverage and be more selective as the likelihood of a sideways trade is high.
Today's PRICE MAP Performance for SP
- Today in the S&P 500 INDEX market, JS Services helped its traders position themselves on the correct side of the market to capture profits from the emotional rally that came from the Fed announcement. An MC value of +7 and a BULL TREND Market State provided the framework for today's trading...BUY! After a dull digestive period to start the day, the market began to rally just after 11:30 A.M. From here, our market commentary suggests a BUY UP BREAKOUT trade with the expectation that the market will produce a move higher. The market rallied violently up to the UT1, took a breath, and then continued up to our profit target, the UT2, just after 12:30. Although we recommend realizing profits at the 2nd major price map level from the order entry point, a trader who'd held on to their position would have been rewarded handsomely, as the market traded all the way up to, and through, our 2nd minor level at 1455.00. Trading with the JS Services Strategy Based Trading approach would have positioned you on the correct side of the market and led to SERIOUS profits today.
