The week began with an uptrending day on the daily cash S&P500 chart. The stop (Wilder’s Parabolic SAR) on the system’s theoretical short is at 1362.17. I must correct a statement from my last post. The price pulse model never triggers a “buy” in the y-pulse after the x-pulse has made a new low. Therefore the trading model under development can not go long until at least the z-pulse concludes.Another interesting item to watch today: Yesterday’s high was at a Fibonacci retracement of the x-pulse. It was also at a Fibonacci five trading days from the last low.
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