SPY reaches ML1

Posted on January 6, 2021

The SPY has reached the ML1 at 371.29. The downside limit is 3368.92. The strongest markets do not tend to pull back all that much.

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During a brief career as a trader, Todd Hudson discovered that the analysis techniques used my most traders were inherently flawed. Oftentimes, the analysis resulted in guesswork. This often led to more questions than answers. After studying numerous methodologies and technical indicators, Todd decided to create a more scientific approach. This scientific approach would be based on risk management and historical patterns. This would allow traders to place trades using historical analysis of these patterns to determine future probable outcomes. The initial goal was to get a sense of the daily direction for intra-day trading.