All trends remain short.
SPXU
Update on trend model, via Allan:
Here is a 240 minute chart of the SPXU, a triple-leveraged inverse ETF for the S&P 500:
SPXU 240 minute Trend Model
Below, the Elliott Wave projections for this move:
SPXU – EW projections
There are two ways to play these leveraged ETF’s. First, you can simply trade off of their charts, being LONG when prices are above the trend line and SHORT when prices are below the trend line.
Alternatively, you can base trades on the underlying unleveraged index, i.e. SPX and simply trade the SPXU based on the SPX chart:
SPX 240 minute Trend Model
Disclaimer: There are many ways to skin a cat, but it is recommend that you declaw them first.
Allan’s newly launched newsletter, “Trend Following Trading Model,” is based on his trend-following trading system for buying and selling stocks and ETFs. Most trades last for weeks to months. Allan’s offering PSW readers a special 25% discount. Click here. For a more detailed introduction, read this introductory article.
