Trading Rules for SPX/ES/Index ETFs..
I wrote this before as a comment in another post.. thought it should be a standalone post... the trading rules we follow are in essence these 4 statements below. No other condition can exist...
NYHL buy + Micro1 buy = Go long.
NYHL buy + Micro1 sell = Go flat. ::: This is where we are RIGHT now.
NYHL sell + Micro1 buy = Go long.
NYHL sell + Micro1 sell = Go short. :: This is the ONLY condition where we short.
This is NYHL below...as you can see, it is a long way away from a sell... so buy the dip is the correct strategy until it turns... even though dips can be as much as 200 points and not turn the NYHL signal at all.. which is why we use the micro1 to time the buys within the context of the NYHL signal as outlined above...