Does the new high foretell more highs?

S&P made a new high today at end of day in what looks like a consolidation pattern so most likely more upward movement tomorrow. However the system added a short signal for the 60 min interval on top of the 120 min short signal so if no strong movement tomorrow we may have a short opportunity.

2013-04-30-TOS_CHARTS

Battle Plan for the 5/1/2013

Go short under 158.8 and 158.6 for spy

 I would love to hear what you think about where the market is headed, you can comment either on Facebook or on this post.

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It’s not a bug it’s a feature

There is an old joke told in the software development circles that when a client complains that the software no longer works as usual, the answer he should get in return is that it is not a bug but a new feature. It seems that is exactly what happened to me this weekend, Think or Swim, released a new version of their trading software that included a feature which de-facto changed the way the hours are presented and with them all the calculations of the indicators. By itself this is not necessarily a bad thing, but TOS had this feature enabled by default and did not think to tell anyone about it, including their customer support desk, which from the emails I exchanged with them, were totally unaware of the change and thought it was a technical issue. Today after chatting with their technical support I became aware of this new feature and am now able to continue providing the system signals.

On a different note, my short position got stopped today at 159.13 with a loss, but the 120 min short signal is still live and kicking and currently under 158.03

Battle Plan for the 4/30/2013

I believe we have another high ahead of us before a correction comes but plan on going short under 158.03 on spy

 I would love to hear what you think about where the market is headed, you can comment either on Facebook or on this post.

If you want to stay updated in real time follow me on Twitter

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Unable to update signals due to TOS bug

Following the system short signal I reported on Wednesday and Thursday I entered a short position on Friday on the 60 min interval at 158.14 on spy. The market closed a little bit above my entry point but it looks like we should have another leg down which will allow me to exit the trade with profit.

Due to a Major BUG in think or swim’s last night release I am unable to determine the updated stop and entry points on SPY and will refrain from giving signals until problem is resolved