Hey Guys,
The market today is at the "reverse" of our normal trading strategy. Here's the chart:
My trading strategy is to look for trades where the stock price has been in the upper channel and coming downward toward the blue line. Right now, the market is in the bottom channel, and coming upward toward the blue line.
Back tests suggest that there isn't a historical edge (long or short) to taking a trade at that point when a stock shows the "reverse" of my trading strategy. Still, I think it will be interesting to see how the market responds at this price point.
There haven't been any new trades yet today, although WPM from the watch list is getting closer into range. There are also a couple other tickers that showed up on the watch list, which suggests more potential trades are starting to fill the pipeline.
If you have any questions or feedback, I'd love to hear from you.