The SPY reached the ML1 Level @ 361.63. This was not of the IDMM-HP variety. The SPY closed below the ML1 Level.
In the original articles that were published on The Intra-Day Momentum Method Levels in 2013 (Articles – Dettermining Daily Intra-Day Direction, Is it Possible? and How the Intra-Day Momentum Method can Help You Make Better Trading Decisions), the idea was to discover how to trade the levels. Should you ‘Fade’ or ‘Trade’ a move to the level. Over the past 5 years, we have been tracking the levels and cataloging this information. It appears at first glance, that the non-HP version of the levels would indicate a ‘Fade’ would be better than a ‘Directional Trade’. While this is a very recent discovery, our goal is for constant and never-ending improvement.
The QQQ and DIA did not reach any level during today’s trading session.
