Yellow Light

Fed is cutting back so the markets are wild.  I recommend sitting on the side for swing accounts until after the new year.  We were taken out out with a small profit after the last wild move in the market.  We need to see what the market is going to do and trade starting the new year.  By that time the market will have a plan and a direction.

I will be out of the office until Jan 2.  Have a great holiday.

Green Light

Move your stop to entry on your SPY.  Don't forget to take profits at 177.13 or if it closed above the PP for that day.  Take half off and let the rest run.

Daily chart we broke the neck line and looks like we may continue to go lower.  But for those of you who missed the short we may get at Half Back Short at the 179.72ish in the next few days.  The large player that did not get short want to get short and may push the market up to get the fill.  So get ready for that.

Option players move your stop 6.67 and take half off when you get 90% of your entry, then let the rest run Long on the Put short.

I will be out of the office until Tuesday.

Green Light!

Got a short today at 180.56 with a stop at 181.07.  We broke our extensions long so I think we will have some down side here.  We got a lower low off of yesterdays low.  A little strange but still a valid short. Stick to the rules. Trade what you see not what you think.  The large traders are hedging there portfolios for the Feb meeting next week.  If Fed stops tapering the volume will come back into the market.  If the Feb keep tapering then we will be in a grind up.

Option traders we got a March put Long, at 6.29 with a stop at 5.87

Yellow Light

No trade Monday.  Two day above the PP but never got a pull back in the main trading hours with conviction to go long.

No trade Tuesday.  We closed below the PP.

Still waiting for a stet up.  Its going to be slow till the end of the year.  Fed Meeting next week and everyone is hedging their positions in case the fed slows the taper.

15 Min on Monday looking like a double top so be careful of a pull back.

Yellow Light!

Move your option stop to entry!  Taken out of the SPY with a small profit on this reactionary trade off good news on jobs claims. Could be a trap be careful today!  Sit on the side if your new!

Green Light lower!

We closed below the PP today and are looking to go lower.  Move your stop to 180.07 and lock in a small profit.

We took a 179 Jan Put call long to day at 2.65 with a stop at 2.42.

Green light lower.

Still in a short trade.  Move your stop to 180.83.  Market is in a battle over trend.  Keep moving stops down.  We closed below the PP on the day so we are still looking for a lower low tomorrow.  We hit the target of 178.56 today.  Should have taken half off your trade for a + 1.64.  We will let the second half ride.

Green light!

Short at 180.20 with stop at 180.93.

We did close below the PP today.  We will have to confirm lower tomorrow to go lower.  For you more conservative traders you can take the bounce lower off the PP.

Yellow light!

Hope everyone had a happy Thanksgiving.

No Trades today.  We closed below the PP on the day and now we must wait until we get a back test of the Primary Pivot tomorrow before we can go short.  This helps us keep out of the chop and giving back money to the markets.