Similar set-up to March 6th, although not as powerful since the CCI (white line) has not been above zero for 2 consecutive months.
Two ways to get a sell signal. 1) If red line drops below zero, all it takes is for CCI(white) to move above Zero line. 2) If red line stays above zero, then the sell signal occurs when CCI(white) moves above the green line.
Winning rate with this trade is over 90% holding the position until 1 of the above sell signals is met.
Good chance we will bounce off the 20day MA and a trend line support going back to late Nov2011 on the S&P.
ReplyDelete20day MA currently 1388.53 or 138.73 SPY
Your CCI trading model is independent of the market health or any conditions of your main model, correct?
ReplyDeleteGood stuff.
J,
ReplyDeleteI'm a little confused. your title is "CCI buy signal", but you explain the two ways to get a sell signal. is it looking like an additional buy signal today?
jaws and berline, yes, this CCI business is just something I've been messing with this year. It is totally independent and unrelated to my main system.
ReplyDeleteJust wanted to add some confidence to this trade we are in by pointing out a long trade today has a 90% chance of winning according to very simple and effective CCI rules.
thanks
ReplyDelete