Trading Plans for THU. 08/17 - Key Support Level Being Tested
S&P 500 INDEX MODEL TRADING PLANS for THU. 08/17
Our trading plans published on Monday, 08/14, stated: "The level of 4495-4505 is now the immediate key level for both Support and Resistance. 4445-4452 is the next support level, a daily close below which will turn our models cautiously bearish". Yesterday, this level was breached.
We also wrote in that trading plan: "This support level is being approached as of this morning. Any sustained breach of this support could open 4400 level as the next support level". The index is approaching the 4400 level this morning. If it breaks down, then 4385 will be the next support.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4438, 4430, 4420, 4407, 4402, or 4383 with a 9-point trailing stop, and going short on a break below 4435, 4417, 4398, 4390, or 4380 with a 9-point trailing stop.
Models indicate explicit long exits on a break below 4427 or 4405, and explicit short exits on a break above 4392. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 11:30am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #earnings, #usdebt, #cpi, #ppi, #fitch, #fomcminutes
Our trading plans published on Monday, 08/14, stated: "The level of 4495-4505 is now the immediate key level for both Support and Resistance. 4445-4452 is the next support level, a daily close below which will turn our models cautiously bearish". Yesterday, this level was breached.
We also wrote in that trading plan: "This support level is being approached as of this morning. Any sustained breach of this support could open 4400 level as the next support level". The index is approaching the 4400 level this morning. If it breaks down, then 4385 will be the next support.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4438, 4430, 4420, 4407, 4402, or 4383 with a 9-point trailing stop, and going short on a break below 4435, 4417, 4398, 4390, or 4380 with a 9-point trailing stop.
Models indicate explicit long exits on a break below 4427 or 4405, and explicit short exits on a break above 4392. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 11:30am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #earnings, #usdebt, #cpi, #ppi, #fitch, #fomcminutes
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tradersai.com/14625-2/
blogs.cfainstitute.org/investor/2022/12/15/what-can-ai-do-for-investment-portfolios-a-case-study/
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From The CFA Institute:
tradersai.com/14625-2/
blogs.cfainstitute.org/investor/2022/12/15/what-can-ai-do-for-investment-portfolios-a-case-study/
Join our substack: tradersai.substack.com/
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