SPY 2 Hr CCI tlb SHORT

13 CCI (black) has three lower highs (triple divergence) and a signal short with a cross down thru an Up-trendline.

When the 100 period CCI (light gray) crosses below +100 on CCI, the uptrend will have a confirmed stall or end.

Shorting from the early 13 CCI signal requires only a small stop, with Price =315 and recent high 315.78 Dec 2 a multiyear high. I don't mind kissing a frog or two (small SL) even if it is just practice for a real prince of a drop, or even for a drop to 312 or 308

If the 100 period CCI short signal appears, it is quite reliable at that time (meaning, nothing lasts forever)

Bình luận:

Daily chart is not yet showing weakness. It may not weaken now. That's fine. I aim for nimble awareness

Bình luận:

A likely spot for a turn off highs would be after the FOMC announcement 12/13. Move up into that would require a bigger stop for any short than one just above the 315.78 from 12/2/19

Bình luận:

Gap close would be down to ~ 312.25. Now gap is about 2/3 closed at 312.79. Because there is possibility of another run up before FOMC tomorrow, it would be wise to protect some profit, esp. since the 100CCI has not yet crossed below +100.
TP1/3 312.79 (315-312.79 = 2.21 on 1/3)
and moving SL to b/e on remainder

Bình luận:

moving SL on remainder 2/3 to 214.27

Bình luận:

error. SL to 314.27

Bình luận:

TP 2 of 3 off at gap close 312. (315-312 = 3.0)

Bình luận:

Last TP 3 of 3 off at SL 214.27 (315-314.27 = 0.73)
Total 2.21 + 3.0 + 0.73 = 5.94
Plan to re-short after FOMC tomorrow is signal is there. No question if 100 CCI drops below +100.