Past week’s (February 13th, 2013) Trading Plan for the S&P500 (English Language)

Hello traders,

I am sharing the trading plan for the S&P500 I have sent on February the 13th, to my newsletter subscribers in the last mid-week update (see an example here) . I will update this plan with what I expect in the S&P500 going forward using the Program and Algorithmic Trading rules found in my Trading Method. In the last weeks price behaved according to Scenario 2 below:

‘The S&P500 price is in a grind higher. While, unfortunately, professionals and funds of Wall St, keep selling to Mom’n’Pops, we know that these kind of moves – which can last for weeks and months – 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 but when don’t know when. A shallow retrace would bring price into the 1507 area.

S&P500 e-mini futures contract, daily chart - February 13th, 2013

S&P500 e-mini futures contract, daily chart – February 13th, 2013 (click to enlarge)

The following scenarios were identified (please, refer to above picture):

Scenario 1. If price does not continue higher a shallow retrace into the 1507 could hold with a stop below 1502.

Scenario 2. If price moves below 1502 we could witness a deeper retrace into the 1485 area with targets in the 1539 area (1st target) and 1568 area (2nd target)..

I send a free Newsletter on Sundays and mid-week updates on Wednesdays along with other information. This week I will send the mid-week update on Thursday (tonight) and you are still in time to subscribe. 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 Articles, English language, S&P mini futures setups and trades, Trading Plan

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