SPY reaches ML1

Posted on December 3, 2020

The SPY has reached the ML1 at 368.03. The downside limit is 366. It’s not likely to get a move to an extended level, without some driving force or news related event, this late in the trading day.

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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.