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SPX – very short term model

SPX – very short term model: UPDATED

Courtesy of Allan  

Below the SPX 30 minute trend model along with the False Bar Stochastic:

What I see here is:

First, an excellent bevy of short-term timing signals generated by this 30 minute trend model;  

Second, the False Bar Stochastic is in "Down Trend" mode, meaning that the apparent Buy signals on the stochastic are ignored, but the Sell signals are very actionable; and 

Finally, that 1177 is a key resistance level, at least for the short term and if and when prices approach that level, assuming the FBS confirms,  it may present an opportunity to add to existing positions, or enter, Short. 

******

For non-chartists like me, I asked Allan what the FBS was and how to know whether it "confirms."  Here’s his response:

"FBS is a False Bar Stochastic and it identifies trending prices so as not to trade against the trend.  When you see a horizontal black bar on the stochastic chart, it means not to take those trades, instead await for the next stochastic signal (crossing of lines either above 80 or below 20) without a black bar.

The only two ways of knowing if there is a new stochastic signal is to own Advance GET software or look for an update on my published charts."

So if the black bar is on the bottom, it’s a don’t buy, and if the black bar is on the top, it’s a don’t sell.

Allan’s newly launched newsletter, “Trend Following Trading Model,” goes with his trend-following trading system. Most trades last for weeks to months. Allan’s offering PSW readers a special 25% discount. Click here.  For more details, read this introductory article.


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Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!