Last week’s (February 3rd, 2013) Trading Plan for the S&P500 (English Language)

Hello traders,

I am sharing the trading plan for the S&P500 I have sent last week, on February the 3rd, to my newsletter subscribers. I updated this plan in my Mid-Week Updates and will keep doing so based on what I anticipate in the index going forward using the Program and Algorithmic Trading rules, part of in my Trading Method. Hereunder is the analysis shared on Sunday, February 3rd:

‘During last week the S&P500 index price kept moving higher according to the plan provided on Jan 27th, 2013. On Thursday, Jan 31st I have proposed a new plan which is still valid. The S&P500 price is in a grind higher where professionals and funds of Wall St will be selling to Mom’n’Pops, and this can last for weeks and months, we know that these kind of moves invariably end in a quick crash in which months of gains are destroyed in the the matter of days. The never ending story is  once again being played. Please read my article on the Bandwagon Theory. We will eventually get a retrace and we have identified a threshold for it: it’s the 1487 level.

These are the two updated scenarios I see going forward (refer to the below picture):

Trading plan scenarios for the S&P500 index moving forward - February 3rd 2013

Trading plan scenarios for the S&P500 index moving forward – February 3rd 2013 (click to enlarge)

Scenario 1. Price keeps moving higher never falling below the 1487 level, into the close area at 1513 (1st target) and then 1525 (2nd target). Although this targets have been already confirmed there is still a possibility for an inversion downwards towards the 1476 next area of support (scenario 2 below).

Scenario 2. Should price move below 1487, we could see a larger retrace into the 1476 area. There should be long interest located in that area so a swing long could be played with stops below the 1468-9 level. If such scenario plays out price could keep climbing higher into the 1st target in the 1520 area.’

I send a free Newsletter on Sundays and mid-week updates on Wednesdays along with other information. Yesterday I set my last the mid-week update  (see what I have shared with subscribers). The newsletter typically includes: a weekly review for the Euro-Dollar cross, my FibStalker View on Currencies focusing on Forex pairs, articles on my trading method, market commentaries and HFT/Program Trading. Please, register here to receive the free weekly newsletter.

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Should you decide to operate based on this information you are invited to do your own due diligence, consult a registered trading professional, as well as, understand the risks involved. This information is for educational purpose only. Please read the Disclaimer and accept all involved risks.

Have a great evening.

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Filed under English language, Futures, S&P mini futures setups and trades, Trading Plan, Weekly review

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