3:50p: It's coming down to the wire. A short signal (which means to sell remainder of long position and go 100% short) is confirmed if SPY closes 136.88 or higher.
Otherwise, sell longs and head to sidelines....
That's all for today. Good luck!
I'm sure someone will be asking, so here is what I've got today. :)
The system is posting a sell signal, but not a short at this point. Due to the extremely large losses suffered yesterday and the model's tendency to sell these large one-day rallies when the market is unhealthy, it appears we are unfortunately heading to the sidelines with a large loss. I can only hope for an extremely strong close today.
Because it's not a short signal, it might be indicating there is more upside the next 1-2 days. Certainly, a multi-day rally back up to 1380-1400 is not out of the question, but if you're following the model verbatim like me, it appears time to head to the sidelines and wait for the next signal.