Trying the BOT Short Signal at 1266 on the sp500

I am trying the BOT Short Signal as of 1266 on the sp500.  In my previous post I talked about the need for some type of bottoming tail on a multitude of time frames.  We may start to create that bottoming tail by sometime this week.

Caution is advised on the long side for now.  If I am wrong on this BOT Short signal then a close above yesterday’s high of 1276.17 will be the defining line.  A close below 1251.48 would be a much better short signal, but I want to try to catch it a bit earlier.

But again if I am wrong then a close above 1276 may switch me back to the long signal again.

Posted in BOT Short Signal
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3 comments on “Trying the BOT Short Signal at 1266 on the sp500
  1. Arsen says:

    Hey, I’m there with you, Tom! Only I went short earlier and a bit more aggressive – right below the 1st 5min bar, because the market felt very tired yesterday and couldn’t penetrate the top bar on close yesterday and on open today.

    Closed half position already after 480ema recross. The plan is to make a position of the rest and to load up the other half if the market retraces back to the top.

    It’s been a very long time since shorts were working so well like today.

  2. Tom Tom says:

    Nice call Arsen. seems like it could work, but market still reluctant to give back too much.

    Will have to see how this week closes.

    I was thinking 1300 area was ideal turning point.

    Will just have to see if market can take out yesterday’s high or not…

  3. ed says:

    Still looking for the market to hit the upper limitof the rising wedge on the daily SPX, before we make it back down

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