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SPDR S&P 500 ETF Message Board

  • cash_wins cash_wins Sep 20, 2010 3:30 PM Flag

    Cash Neurals triggered SELL signal here at 1143.40 spx (1138.75 es)

    Hello short term traders,

    Is there any better way to start off the week than with gourmet coffee and a profitable trade?

    Love the smell of profits as our last trade netted us 14 es handles of long profit.

    Just stopping by again to give you the Cash Trade Of the Day for Monday.



    Update for SEP 20:


    Hourly Trading Notes:

    Cash Neurals triggered an intra-day SELL signal here at 1137 es. Our previous targets of 1132.50 and 1135 both hit earlier and so closed out our long position.

    Cash Neurals now confirm the current price level to be UNSUTAINABLE and extended outside of our value area. Expecting
    this price area (1132-1136 es) to get rejected before end of session.

    HOD has likely printed.

    We expect responsive sellers to arrive as our time/volume indicators signal major imbalance on the hourly.

    Watch for a delayed reaction to the discontinuation of Bush tax cuts for the $250k+. Much of this ramp is QE2 frontrunning and so we expect the next two sessions to be volatile. We are also on high alert for any announcement concerning the possible default of international debt.


    CASH TRADE OF THE DAY:
    -----------------------

    Shorted 12 es @ 1138.50

    Trade Type: Swing/Fade (overnight hold)

    Current S/L: 1141.50 es (tight)


    Conservative target: 1127 es

    Expected target: 1121-1122 es

    Current Risk: 1.5%





    CASH NEURALS TREND:
    -----------------------

    Hourly futures: Bearish

    Daily futures: Bullish

    Weekly futures: Bearish






    Trade safe,

    Cash



    ************************************************************

    "To be conscious that you are ignorant is a great step to knowledge."
    - Richard Feynman

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