In the name of Allah the most Gracious, most Merciful
Last night Understand, Survive and Thrive provided a comprehensive market analysis from every possible angle, and wrote: "1220 level possesses strong support for the market."
Lets see what happened:
Subscribers were told to keep stops at 1207 in the last Trading Algorithm Update. Since the stop was not hit, they are still in the trade with SP500 futures up more than 16 points right now. If the market holds its gains today, it would suggest that we have started wave 3 of 3. This pattern means that we are off to the races to at least high 1200s in the near term.
It seems like "8/4 Trend Reversal Test" was successful in identifying the trend change. Moreover, we have been working on a Trade Probability Calculator, to justify whether a trade should be undertaken or not. Probability Calculator's output will be shared with subscribers and blog readers in November -suffice to say, it has brought numerical clarity in our trading.
Current IPM turn window has resulted in a significant market bottom, marking the start of 3 of 3 (the strongest rally phase). Next IPM turn date has been calculated, and Subscribers will be informed about it next week. Subscribers will also receive updated detailed stop levels by Friday. Right now bring the stop up to 1221 (SP500).
If interested in this kind of Analysis, register now for Subscription Info.