TradersThinkTank Market Gauge Changes for $SPX

Hello Traders,

For the first time in weeks (not even sure how long its been) that my market strength strategy I run on the SPY to gage market tends has shifted from long entries the past several weeks to a short entry today.

What does this mean? Well, I run a strength strategy to help me gauge risk in the side of the trades that trigger. It helps me figure out position sizing,  how many stocks to run at any one time on one side of the market, and just how many trades to take if triggered in a series of days.

Basically, for the first time in a long while, I just now got an entry short in the SPY. I won’t trade it, I only use it a a gauge. But its interesting to note that the trends, especially mid-term weekly) are changing tides.

Happy Trading,

Nick Pirraglia

TraderThinkTank

Follow me live on http://www.marketfy.com herehttp://www.marketfy.com/store/item/use-technical-analysis-to-capitalize-on-trends/preview/

About Nickolas Pirraglia

Nick Pirraglia started his career in trading in 1991 after returning to the US as an Army Officer deployed in Iraq. He began as a bond broker and worked his way into trading. Expert mentoring, hard work and a disciplined approach to the markets has allowed Nick the ability to maintain a very successful career in Capital Markets and Trading for over 20 years as a professional OTC Market Maker and independent trader. Nick has also managed the trading desks for a two Dallas based capital management companies and traded equities for a Dallas based hedge fund. Nick has trained and mentored thousands of customers in the rigors of trading, technical analysis and risk controls. Recently, Nick had broadened his market experience through the design and product management of two automated trading platforms. He has the pleasure of working with some of the brightest minds in the trading community and has collaborated with experts in data, design, engineering and trading psychology. An avid long distance runner, Nick completed several marathon events, qualified for the Boston marathon, completed several long distance Triathlons to include finishing a full Ironman triathlon.
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