Our ST model has been in 'buy' mode since early June. With the Sigma Trend Index (STI) at 41 (clearly above the key 34 level), the first required condition for a short position is in place. Now, we need either the Swing or the Power Level to decline below '3' within the next 3 sessions on order to activate the 'sell' signal. (if you want more details, have a look at our methodology by clicking on the link in the right column).
The ST model uplifted its stop on the SPX:
Short Term Trading Book:
- SPX: 1 long at 1654.12 (stop @ 1623, 3pts below the ST model to take into account bid/ask spread)
- NDX: 1 long at 2868.65 (stop @ 3016, 5pts below the ST model to take into account bid/ask spread)
Medium Term Trading Book:
- SPX: 2 shorts at 1682.84 (stop @ 1724, 3pts above the MT model to take into account bid/ask spread)
For those of you interested in our trades or in our methodology, you can visit our site. A full description of our ST model and MT model is available on our site. You can also subscribe to our twitter account (@SigmaTradingOsc), it is free and you are updated on our latest view/trades.