Today's MARKET STATE S&P 500 **BULL TREND**
- 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
Wrap Up
Today played host to an enormous sell off in US indices and real opportunity for profit in the S&P 500 market. The R Level at the DP in a UPT market state signals the "breaking point" for the + sentiment. The market opened up below the DP R voiding both the UPT signal as well as the positive sentiment. Below the R Level, the opportunity for the session is to the downside, and boy did it pay off! As the 21 period SMA crossed below the 55 period SMA creating a "sell" signal, the market began to breakdown from the DT1. From here it stabilized for a brief moment at the DT2 before plummeting down through the DT3 and eventually ending the day at our extreme -c level. Notice how the directional move maintained negative structure throughout the entire session, and found resistance at moving average "band" created by the 21 and 55 period moving averages. These types of moves don't present themselves very often, but when they do it is essential to execute your game plan and capitalize on the opportunity.
Today played host to an enormous sell off in US indices and real opportunity for profit in the S&P 500 market. The R Level at the DP in a UPT market state signals the "breaking point" for the + sentiment. The market opened up below the DP R voiding both the UPT signal as well as the positive sentiment. Below the R Level, the opportunity for the session is to the downside, and boy did it pay off! As the 21 period SMA crossed below the 55 period SMA creating a "sell" signal, the market began to breakdown from the DT1. From here it stabilized for a brief moment at the DT2 before plummeting down through the DT3 and eventually ending the day at our extreme -c level. Notice how the directional move maintained negative structure throughout the entire session, and found resistance at moving average "band" created by the 21 and 55 period moving averages. These types of moves don't present themselves very often, but when they do it is essential to execute your game plan and capitalize on the opportunity.
